Getting

Married

Mawwage! Mawwage is what bwings us togeva today.

Congratulations! You and your partner are about to enter this new phase of your lives, and it is such an exciting new chapter. In between practicing your new signature and bonding with the in-laws, there are a few things to consider before you officially tie the knot.

I know, it can be a lot to handle. Balancing saving for things like buying a home, paying down your debt, or preparing for the cost of childcare—but two areas to start with are ensuring that you have the right protection to support your new family, and saving for the future.

Income Protection

As a married couple, you may have dual incomes and dual debt. It’s wise to protect your spouse in the event that something happens to you. A term life policy can help with short-term needs. While whole life- the Rolls of life insurance, has multiple uses; in addition to permanent insurance protection, it can help you prepare for the future by accruing cash value over time that you can either borrow against or simply use for any reason.

Saving for the Future

You may already have retirement funds, but it’s important to have savings that are not retirement specific as well; in layman’s terms, investments. Mutual funds, ETFs, and other investment vehicles have a potential to generate returns from the market and grow your assets over time, while not penalizing you if you use them prior to retirement. Due to market fluctuations, each vehicle has its own risk and rewards. Many of our investment options can be accessible in the short term- while still giving you exposure to the markets, and allowing your money to grow for your future needs.

Tips for your finances as newly weds

1Banks always assess both of your credit score

You should know in advance how you appear as a couple on applications. This is just as important as knowing their stance on pineapple on pizza... There’s only one right answer.

2Emergency funds are more important than ever

Have at least 6 months worth of income set aside. You’ll thank yourselves later.

3Balance both short- and long-term financial goals

Things can change, so it’s important that you have flexibility throughout your life. Set yourselves up with financial products that meet your short term and long term goals.

4Work together to track your combined earning and spending

A joint checking account can help organize your expenses; use this in conjunction with an excel spreadsheet or online tracker.

5Take advantage of family plans to cut costs

You’re officially a family! So consolidate your accounts and subscriptions. You’ll be able to save a ridiculous amount of money by splitting everything you can down the middle. Also, if they have a separate Netflix subscription, that’s shady. I don’t know what to tell you... They’re probably hiding something.