Plan Your Next Financial Fixer-Upper... Together

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What do laying drywall and managing money have in common? A lot more than you might think.

Several years ago, a survey from Great Neck Saw Manufacturers caught my eye. The hand-tool maker asked couples about tackling home-improvement projects, and the results were eye-opening:  Fifty-four percent of these handy couples said they enjoyed the collaboration, and – get this – 9% said that fixing up their homes together was actually romantic.

Twosomes could learn a few things about tackling money issues from this very unlikely source. Think about it: Managing money and big projects have a lot in common. Both have the opportunity for big payoffs. Both have the potential to be fraught with frustrations. Both undertakings are designed to increase comfort, livability, and in some instances a lovely southern view. Neither is free from a certain amount of drudgery, anxiety, opportunity, and the risk of a few paper cuts or trips to the emergency room.

But in matters of money and small construction, four hands are always better than two. The old saw about measuring twice and cutting once can get dull if you're the one doing all the measuring and cutting.

The Blueprint for Financial Dreams

Remember, just because there are black-and-white numbers in your checkbook doesn't mean there are black-and-white answers to the issues here. Consensus is key if you want your union to last 'til death do you part.

To avoid coming to blows, consider treating your finances as you would a fixer-upper. Come up with a master plan for your family's future -- together. Tackle big projects (saving for retirement) and small ones (cutting down the entertainment budget) -- together. When you keep the ultimate payoff in mind (and perhaps a few snapshots of your retirement manse on the fridge), developing a shared vision of what could be is that much sweeter.

Do the prep work. Before any renovation project -- whether it's retiring at age 50 or paying off the house early -- there's a certain amount of prep work to be done. So come up with a clear financial goal that makes you both excited.

Brainstorm ways to align your finances with your life goals. As you lay out your project, play to your strengths. Who's better at bargain shopping? Which one of you has a knack for researching things online? Answer these questions and you've started to form your plan of attack.

Treat each other like partners, not underlings.  According to the Great Neck survey, 6% of couples say they fought like cats and dogs during their home renovations. Their main complaints? Twenty percent think that their partner can be too bossy, and 16 percent said that their partner is too much of a perfectionist. When things get heated and nerves frazzled, take a break and approach the project with fresh eyes and a full night's rest. Oh, and try not to be a bossy perfectionist.

Lean on your partner. Couples said that one of the most satisfying parts about working together on home-improvement projects was proving that they could work together, according to the Great Neck Saw survey. And while wielding sharp objects, no less. Ah, togetherness.

Finally, divide and conquer. This is the old "I'll cook if you do the dishes" rule at play. Even if one of you is giddy with excitement over balancing the checkbook or reviewing your insurance needs once a year, it takes two to make your financial whoopee work. That may mean that one person does most of the heavy lifting when it comes to money matters while the other picks up the slack in other areas of household management.

Don't be shy about calling for backup. Asking for reinforcements is not a sign of failure. But before you cede any financial decisions to others, do your homework. You wouldn't hire an electrician without calling his references. Same goes for your financial pros.

Now don your grubby clothes and get to work -- together.

Fool.com columnist Dayana Yochim has a fully-stocked tool box and mad skills with power tools.