Marriage is a union of love between two people who wish to spend their lives together. It is also the merging of their finances and debts.

While money is not the most romantic of topics for a newlywed couple to discuss, it is necessary to start your marriage with no financial surprises and a plan for the future. If either of you has applied for personal loans, it might be necessary to create a plan on how to settle these loans. If you need assistance from a financial advisor to manage personal finances, reading reviews on these services on review sites can be useful in finding the best service. Click on the links to be redirected to a review site that uses previous customer feedback to rate a company’s performance.

Finance tips for newlyweds

Opposites attract, and this is true too with spending habits. In a marriage, you often find that one is a saver, while the other is a spender. You can manage your finances better using our top tips:

Tip #1: Be open about your finances

Discuss salaries, debts, savings, and spending habits. Decide if you want to have a joint bank account or if you would prefer to keep your money separate and share all costs. The number one argument in any relationship is about money. Being open about your financial situation is the best way to come up with a plan and work together.

Tip #2: Set a budget

Your budget can include household costs such as bills and groceries, and can also extend to short- and long-term savings. Set a budget and only spend within your means. Stick to your budget as closely as possible to ensure that you manage your finances well. Don’t forget to create an entertainment budget for those well-needed date nights.

Tip #3: Set financial goals

Setting financial goals helps you plan for your future. Short-term goals are those that you wish to meet in the next two years, such as buying a home, traveling, or starting a family. Long-term goals can include college funds, retirement plans, and all-important life insurance. Look at ways to prepare and invest in your future goals.

Tip #4: Deal with debt

It is important to remember that any debt is now household debt and should be settled together using both incomes. Make a list of your debts and pay the one with the highest interest rates first. Don’t plow all your funds into debts, as you need to save for your long-term financial goals too.

Tip #5: Invest 

You can invest funds in retirement annuities, stock markets, and other funds to build up your wealth. Don’t over-prepare for your retirement while neglecting your short-term goals, like starting a family and buying your first home together.


Marriage is more than just a union of two people and can bring about significant change to your personal financial situation. Marriage comes with perks and tax benefits that can help you save money and prepare for your life together. Pool your resources, change your spending habits and start saving for your golden years together.