How Will Your Finances Change When You Get Married?

During the life span, there are some key milestones, and one among them is undoubtedly marriage. It is not just by uniting the two opposite sex through matrimony but also by aligning them financially. Significantly, most of the changes that will come after the marriage are positive though it depends on the circumstances of the concerned persons. In some cases, marriage could lead them to a struggling phase.

Monetary Reasons

At no point of time, marriage should be considered for monetary reasons just to buck the hassles and the hope that the partner could bring in a bright future. There is no doubt that marriage changes the personal finances of the concerned person. For instance, there are advantages attached while filing taxes with a spouse. This will enable them to get a higher standard deduction apart from the capacity to integrate itemizations and additional exemptions. This will become a big factor especially if there is a disparity of income among the partners.

In short, a spouse can help save taxes as well as one qualifies for special deductions. The most immediate tax exemptions which come to mind are with regard to property, and gift. Apart from that, taxes are exempt in case of inheritance, when a spouse leaves the partner or passes away. The possibility of couples having their own separate account and managing them though they might agree to share monthly household expenses.

Costs Reduced

Married couples might be required to shell out less for home and auto insurance relative to singles. That is because couples could integrate policies to cut expenses apart from having access to lower rates as insurance firms might consider them as responsible. There is also gain to be derived from the health insurance coverage with a family plan especially any one of the partners have access for a better health care plan.

The biggest gain from marriage is the transfer of gains between the partners like disability, and Medicare. Also, there is an additional option for the couple during the retirement period for getting social security gains. Married couples could get 50 percent of the gain based on their past earnings. Also, there are survivor gains in case the spouse passes away.


At the same time, there is also some negativity attached to marriages. For instance, marriage could lead to the disqualification of the Affordable Care Act subsidies for health. That is because of income being integrated with a spouse. At the same time, one should be ready to spend more for a family plan as the deductible will increase.

As far as credit is concerned, there is no change in individual credit even after marriage. However, changes could be seen in individual credit reports in case the spouse, or partner name is included. Similarly, credit repair service could be considered if the credit rating of an individual is not all that great. There is also an option to retain credit accounts individually.


It is always better for couples to discuss their finances and draw a line in order to avoid conflicts in future.