INDIANAPOLIS (WISH) — February may be the month of love, but it can also be one fraught with financial peril: Holiday bills threaten to go past-due, new spending mounts, and tax season rolls on.

It can be a tough task to manage alone, and the challenges multiply if you’re navigating it with a partner. But a local financial expert who joined WISH-TV’s Daybreak on Thursday says tackling the tasks in tandem brings opportunities, too.

“Couples actually have kind of a leg up, in my opinion,” said Adam Young, area manager for Everwise Credit Union. “They have an accountability partner when it comes to how they’re managing their money and kind of the pathway that they’re going on their financial journey.”

Young laid out a full strategy for partners to follow to a healthier and happier bottom line.

He shared his own experiences and suggestions.

• Collaborate: “It’s exciting because really in a couple relationship or really any kind of partner relationship, you’re allowed to share your dreams.”
• Identify Strengths and Weaknesses: “When it comes to money management, it’s not always equal. Sometimes you have that person that more takes the lead.
• Put Conversations on the Calendar: “Ours is the 15th (of each month). So we’ve identified a day and this has been ongoing for the last five years when we really started our journey.”
• Set Goals Together: “This isn’t ‘my’ goals and ‘her’ goals. Absolutely, they meet somewhere!”
• Celebrate the Wins: “You’ll run into rocky roads at times, but to celebrate the wins… that’s the reminder of saying, ‘Hey, all that sacrifice that we put into play really made a difference!’, and then going out and celebrating.”

Young says couples should start their journey with a net worth assessment to see exactly where assets and liabilities stand before the important conversations start.