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Marriage and Money

Money management checklist for newlyweds

For many, getting married is a dream come true, but there is a business side to your new married life as well. From updating accounts to figuring out your joint finances, married life impacts it all. For those who’ve just tied the knot, Protective presents practical money management for newlyweds.

Getting married is a huge life and financial change. It will take some work and planning to move in with your spouse and get your new house in order. To make sure you're both ready, review this pre-marriage financial checklist.

Pre-marriage financial checklist

Small White Check IconUpdate your accounts

If you're moving into a new home after your marriage, be sure to update the address and contact information on your bills and other accounts. For women, if you're taking your husband's last name, update your name information as well to avoid confusion.

Small White Check IconDecide how to pay the bills

When you move in with your spouse, how do you plan to handle the household bills? Do you want to put both your names on each account and pay for everything together or do you prefer to divide the bills with your spouse? For example, you pay the cable while they handle the electricity.

Small White Check IconReview your credit

You and your spouse should order a copy of your credit reports. This will let you see if either of you is having credit problems that need to be repaired. It's important to figure this out before you apply for a mortgage, credit card, or other loan together.

Small White Check IconSet a budget

How do you and your spouse plan on sharing your income once you're married? Sit down and make a list of all your household expenses and see how they match up against your income. Start to plan how you will pay for everything as a married couple.

Small White Check IconPlan your insurance

Review both your health insurance policies. Once you're married, you might be able to join your spouse's plan so see if one is better than the other. Make sure you also have the right car and home insurance in place for any property you both own. It might also be a good time to look into life insurance, especially if you're planning on buying a house together or having children in the future.

Small White Check IconFigure out your new tax situation

Filing taxes is a little different when you're married. It might be a good idea to meet with an accountant before filing as a married couple for the first time.

Small White Check IconDecide on a joint bank account

Do you want to open up a joint bank account with your spouse? This would make it easier to share money. On the other hand, a joint account may make it harder to track how much you each spend.

Small White Check IconSet up a will

When you died, would you want your spouse to inherit all your property? Now would be a good time to write a will explaining exactly how you'd want your assets to be divided. Be sure to update the beneficiary information on your retirement plans and insurance policies as well.

Small White Check IconPlan for retirement

Have you and your spouse started saving money for retirement? Do either of you have a retirement plan at work like a 401(k) that you could invest in? See if you can start putting some money away each month for your shared retirement goals.



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All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Learning Center articles may describe services and financial products not offered by Protective Life or its subsidiaries. Descriptions of financial products contained in Learning Center articles are not intended to represent those offered by Protective Life or its subsidiaries.

Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax-related decisions. For information about Protective Life and its products and services, visit

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