After all, marriage is a significant economic transaction with its own balance sheet.
Couples with disparate incomes often find themselves in a lower tax bracket together than they would be separately.
Healthcare savings
Nothing says romance like discounted health insurance premiums.
Many employers offer family coverage that costs less than two individual plans.
Why maintain two half-empty refrigerators when you could maintain one completely full one?
Social security advantages
Marriage offers a built-in retirement safety net.
Surviving spouses can claim their deceased partner’s Social Security benefits if they exceed their own.
It’s the government’s way of saying, “Sorry for your losshere’s some money.”
Hey, not all of my wordplay is perfect, OK?
The marriage penalty
This is the flip side of the marriage bonus.
Some dual-income couples with similar earnings find themselves payingmorein taxes together than separatelythe infamous “marriage penalty.”
Nothing strengthens a relationship like realizing you’re paying thousands more annually for the privilege of filing jointly.
Here’s thatcalculator again.
Benefit complications
Some income-based government benefits may decrease or disappear entirely when household income is calculated jointly.
Marriage can inadvertently disqualify individuals from financial aid, assistance programs, or income-based repayment plans for student loans.
And what else can you do to protect your finances in your marriage?
Despite its unromantic reputation, a prenuptial agreement provides clarity and protection for both parties.
Prioritize financial transparency
Before marriage,schedule a judgment-free financial disclosure session.
Reveal credit scores, debt loads, assets, spending habits, and financial goals.
Determine who pays for what, how savings will be allocated, and how major purchases will be decided.
This prevents the “I thought you were paying the electric bill” conversation in the dark.
