June is known as the wedding month, and most couples are so busy planning the wedding ,they don't think about starting a household on solid ground financially.

For newlyweds, the first big financial decisions go beyond how to pay for the honeymoon, and how to invest all of those checks. They also involve starting a new household on solid ground financially. financial incompatibility is a primary reason for a significant number of failed marriages.

Here are a few things to think about:

Before exchanging wedding vows, have a candid discussion about your finances. Be open and honest about matters that could be a source of friction in the future. Some experts suggest that both of you order your latest credit reports and then, together, sit down and review them to avoid major surprises.

Set short-term and long-term financial goals. Figure out how much money each of you should be able to spend for "fun" and how much you should set aside for important goals -- perhaps to buy a home. Financial advisors suggest that young couples prepare and follow a monthly budget.

Understand the risks and responsibilities of jointly held accounts. If a husband and wife are co-owners of a credit card and one of them goes on a spending spree, the other spouse may be held responsible for paying the bill. Irresponsible use of a jointly owned credit card by one spouse would be reported on both of their credit histories, and that could damage the "innocent" partner's chances of getting a good loan or credit card in the future. When two people use the same checking account, they should share one checkbook and record all transactions, because, otherwise, they risk losing track of their balance and paying charges for insufficient funds.