Congrats! You exchanged vows, tossed the bouquet (who knew Aunt Vera had moves?), and probably came back from the honeymoon with a nice glow.
Now the real work begins. Whether you like it or not, money matters are a big piece of married life. According to Dave Ramsey, 86% of couples who married within the past five years started out carrying debt.
Don’t worry. Breathe easy. We’ve collected some of the most important financial tips every pair should know.
Ready to begin? Say “I do.”
1. Protect Your Spouse with $1.5M in Coverage
Have you considered how your family would manage if your income suddenly disappeared? Who would cover the household bills? How would the kids’ education be funded?
Now’s the time to prepare by exploring term life insurance.
You might be thinking: I can’t afford $1.5M in life insurance. But policies can be surprisingly affordable — some plans at Bestow start around $10 a month.*
The application only takes a few minutes, and the reassurance that your loved ones are covered is invaluable.
If you’re under 54 and want a quick life insurance estimate without a medical exam or leaving the couch, get a free quote from Bestow.
2. Let This Service Settle Your Credit Card Debt This Month
No, really — the entire balance.
While you’re stressing about mounting credit card balances, issuers are profiting from high interest. A company called AmOne offers a possible solution.
If your total credit card debt is $50,000 or less, AmOne can connect you with a low-interest personal loan to consolidate and pay off your cards.
The upside? You’ll have a single monthly payment. Since personal loans generally carry lower rates (AmOne’s offers can start at 2.49% APR), you can become debt-free faster. Plus: no credit card payment this billing cycle.
You don’t need flawless credit to be considered — and checking options won’t ding your score. AmOne also protects your information, which helps explain why it’s maintained an A+ Better Business Bureau rating after two decades.
It’s quick: less than a minute and about 10 questions reveals what loans you might qualify for — no Social Security number needed. You will need to provide a valid phone number, but they won’t inundate you with calls.
3. Reevaluate Your Car Insurance
When did you last shop around for auto insurance? Odds are your current plan is costing you more than necessary.
If it’s been over six months since your last comparison, give it another look.
Using a digital marketplace like SmartFinancial could uncover premiums as low as $22 per month — potentially saving you over $700 annually.
Getting quotes from multiple insurers takes about a minute, letting you compare top rates side-by-side. In just one minute you might save around $715 this year — that’s meaningful money back in your wallet.
Take Lourdes Robles-Velazquez, for instance. As a single mom on a strict budget, she was paying $205 monthly to insure two Toyota Priuses — her own and her daughter’s. By comparing offers, she trimmed $80 off her monthly premium, nearly $1,000 saved annually.
If you haven’t reviewed car insurance prices lately, see how much a new policy could cut from your costs.
4. Build a Household Budget
No matter your income, the first step as a married couple is to set up a dependable budget. Know where your money is going, create a plan, and commit to it.
We get it — budgeting isn’t thrilling. But you don’t need to spend endless hours on complex spreadsheets. The 50/20/30 rule simplifies things. It’s straightforward and adaptable.
Here’s the breakdown:
- 50% of income for essentials.
- 20% toward financial priorities.
- 30% for personal spending.
As you get comfortable, adjust the splits to suit your circumstances. Some couples funnel more into savings; others need extra for everyday costs. Experiment until you find a balance that supports your goals.
5. Add as Many as 300 Points to Your Credit Score
You might not pay much attention to your credit score — until you need to buy a car or a home. Those three digits heavily influence your ability to make big purchases.
And if there’s an error on your credit report — which happens on about one in five reports — it could create a major obstacle.
A service called Credit Sesame can help you spot mistakes — for free. It explains why your score is what it is and offers tailored guidance to improve it.
Salome Buitureria, a working mother in Louisiana, discovered a significant error this way. With Credit Sesame’s help she corrected the problem and took steps that raised her score from 524 to nearly 700.
Now she and her partner feel more prepared to pursue their biggest goal: buying a home. Signing up takes roughly 90 seconds.
1 Borrow & Grow Plan loans for first-time borrowers range from $1,200 to $7,000 with $300 to $4,000 accessible immediately and the rest of the loan locked in a savings account until you repay in full. Repayment periods range from 8 months to 44 months, and APRs range from 6.95% to 29.99% Advertised rates and terms will be subject to change without notice. Your actual APR and other loan terms will be shown to you as part of the online application process.
*Bestow: Policies are issued by Bestow Life Insurance Company, Dallas, TX on policy form series BLI-ITPOL. Bestow Life Insurance products may not be available in all states. Policy limitations or restrictions may apply. Not available in New York. Our application asks lifestyle and health questions to determine eligibility in order to avoid requiring a medical exam. Prices start at $10/month based on an 18-year-old male rated Preferred Plus NT for a $100k policy for a 10-year term. Rates will vary based on underwriting review.
