Getting married changes your financial life in profound ways. It’s not just that you’re living together or sharing expenses—you don’t need marriage to do that. It’s that your legal and tax statuses change. And while your credit score remains individual, your future choices could be changed by what your spouse brings into the financial picture.
Whether you’re getting hitched for the first time or remarrying after a divorce or death, it’s smart to sit down with your partner well before the wedding to talk about these issues and do some financial planning. Granted, it’s not the most thrilling premarital activity. But the decisions that you and your future spouse make about how to handle money will have long-term repercussions for you—not just as individuals, but as a couple, whether you choose to combine your finances completely or keep certain things separate.
Your choices will have not only financial implications but also emotional and legal ones. A little preparation now will pay off handsomely later.