Getting married is a life-changing event with lots of financial decisions along the way. Even after the wedding, good communication about money is important throughout your lives together.
Create Mutual Financial Goals
It’s easy to assume that the person you married naturally has the same financial goals as you. After all, you share everything else, right? Make sure to set aside time to actually discuss these goals together – list them, prioritize them, and make real plans to get there. And don’t be surprised if there are areas you both see differently along the way!
For more information about budgeting and saving, visit our Calculators & Tools section.
Joint or Separate?
Today there are many different ways for couples to manage finances. Don’t assume there is only one right way to do this. While many couples still prefer a joint account, others maintain separate accounts or a combination of joint and separate accounts.
After you decide your preferred method of handling money, you’ll also need to determine if and when you will also merge other accounts, like credit cards. Finally, discuss how you will divide living expenses and who will take care of paying bills when they’re due.
If you have questions about merging your accounts at CCU or establishing a joint account, we’re here to help! Contact us for more information or stop by at any branch location.
Compare Benefit Plans
If you each have your own benefit plan, you should carefully compare them to choose the right mix of products. The plans you should consider include health insurance, retirement, and 401(k) plans.
Get the Right Insurance
Chances are, you each have separate insurance policies on your assets. Consolidating coverage of your assets into fewer policies can save you both a significant amount of money. In addition, you may wish to make changes to existing insurance policies (including updating your beneficiaries or increasing coverage) or get new policies. The CCU Insurance Agency can help answer all of your insurance questions. Contact us for more information.