Are you planning a second marriage? You've got company.

According to the 2012 U.S. Statistical Abstract, there were more than 2 million marriages in 2009. And, with one divorce for every two marriages, that means a lot of those 2 million marriages were second marriages.

Consider these components to make your second marriage's finances run smoothly:

1. Keep a personal account. If you've been single for a while, you're used to being on your own. Having a personal checking account and a debit card will allow you to transition into a financial partnership without feeling like you've disappeared.

2. Use a joint account for household expenses. To pay for things like mortgages, utilities, and food. If the house belongs to both of you so should the bills.

3. Don't keep too much separate. Having one person responsible for the water bill and the other taking care of the electricity is a recipe for trouble. Unless you have total control over incurring the expense, sooner or later you'll argue over the size of the bill.

4. Gradually blend your finances together. As time goes by, put more expenses into the "joint" category. Working together will strengthen your marriage.

5. Plan for a joint account shortage. Decide now what you'll do if there's not enough money in the joint account to cover the bills. Will you borrow the money? Will you each contribute to the shortage? Will attempts be made to reduce future bills? By knowing what your plan is, you'll focus on it instead of playing the blame game.

6. Plan for windfalls. Discuss what you would do with any windfall money. Save it? Spend it? On what?

7. Set up spending rules. Determine levels where a purchase needs to be discussed with your spouse. You'll probably have one figure for joint expenses and another higher one for your personal money.

See the original post here:
18 Financial Tools to Make Your Second Marriage a Success