In the midst of wedding plans? There are a lot of details to discuss, but don’t overlook the most important discussion of all – how you’ll handle finances after you’re husband and wife.

  1. How do you want to handle expenses? You could contribute equal amounts to a joint checking account that pays the bills or an equal percentage based upon income. One person might pay for everything or you might split the bills. You could even completely merge your finances so all of your income goes into one account.
  2. Review all of your finances including statements, credit card bills, account books, loans, and investments. Decide which accounts you will be joint on. This could be as easy as getting a joint credit card or it could be a longer process like adding one another to your investments.
  3. Make a list of all accounts you hold together and separately so that if anything were to happen to one of you the other knows what they needed to cover.
  4. Change the names on your accounts. If you change your name or join names make sure to change the names on your accounts as well.
  5. Consider your credit scores. While your scores won’t merge, your partner’s score does affect yours. Each score is considered when purchasing joint assets so it can affect the decision.

Newlywed happiness should last a long time so have the finances discussion to ensure you’re ready to enjoy your honeymoon phase!