8 Tips for Protecting Your Finances Before You Get Married

If you’ve found the one and you're planning to get married, your head is probably filled with visions of wedding dresses and what your life will look like together; money probably doesn’t come into it unless you're pricing up the various parts of your upcoming wedding, right? 

While this is totally understandable, the fact of the matter is, when two people come together in marriage, they combine not only their lives, but also their finances, and that is why you do need to think about your finances, and what you can do to protect them when you get married.

That being the case, here are a few things you can do to protect your money when before you say “ I do!”

Have “The Talk” About Money (Yes, It’s Awkward)

It’s obvious, but before you marry, you need to talk about money. This does not mean simply having a quick chat about who’s going to pay for your next date either. You need to be totally honest and upfront with each other and get right down to the nitty-gritty about what you have, what you spend, what your credit score and salary look like and a few things that will probably embarrass you or make you feel uncomfortable. It’s the only way to ensure you both know what you are singing up for and avoid any embarrassing situations down the line.

How do you each handle money? Are you a saver while they’re a spender? Do you have any lingering student loans or credit card debt that need addressing? It’s better to figure this out before combining your lives (and your bank accounts).

Consider a Prenup (It’s Not Just for the Super-Rich)

Let’s be real: prenups get a bad rap. For some reason, they’re often seen as a sign that you don’t trust your partner or that you’re already planning for divorce. But here’s the thing: a prenup isn’t about predicting the end of your marriage—it’s about protecting yourself financially, no matter what the future holds.

Think of a prenup as financial insurance. You hope you never need it, but it’s good to have just in case. A prenup attorney can help you and your partner create a fair agreement that outlines what happens with your assets and debts if things don’t work out. This is especially important if one of you is coming into the marriage with significant assets, like a house, a business, or investments.

The good news? A prenup can actually make your marriage stronger because it forces you to have important conversations about money upfront. It’s not the most romantic topic, but it’s definitely one that can save you from a lot of stress later on.

Decide How You’ll Handle Bank Accounts

Are you going to combine your bank accounts, or keep them separate? There’s no right or wrong answer here—it’s all about what works best for you and your partner. Some couples prefer to pool all their money into a joint account, while others like to keep things separate to maintain some financial independence. Or, you can go for a hybrid approach, where you have a joint account for shared expenses (like rent, bills, and groceries) and keep individual accounts for personal spending.

Whichever route you choose, the key is to agree on a system that works for both of you. Make sure you’re on the same page about how much money goes into the joint account, who’s responsible for paying what bills, and how much you’ll both contribute to savings. Trust me, getting this sorted before the wedding will save you from some major headaches later on.

Budget for Your Wedding and Your Future

Weddings are expensive. Like, really expensive. But here’s the thing: it’s easy to get caught up in the excitement of planning your dream wedding and forget that you’ve got a whole life to pay for after the big day. So, it’s important to set a realistic budget for your wedding and stick to it.

Sit down with your partner and figure out how much you can comfortably spend on the wedding without going into debt. It’s tempting to splurge on every little detail, but remember that the wedding is just one day, while your marriage is (hopefully) forever. Plus, the last thing you want is to start your married life with a pile of wedding-related debt hanging over your head.

While you’re at it, start budgeting for your life after the wedding, too. Do you want to buy a house? Travel the world? Start a family? Having a plan for your future financial goals will help you stay on track and avoid those “where did all our money go?” moments.

Don’t Forget About Insurance

You’ve probably already thought about health insurance and car insurance, but what about life insurance? Once you’re married, you’ll want to make sure your partner is taken care of if something happens to you. Life insurance might sound morbid, but it’s actually a responsible step to protect your spouse (and any future kids) from financial hardship.

You should also check out disability insurance. No one likes to think about it, but if you’re ever unable to work due to injury or illness, disability insurance can help replace lost income and keep your finances stable. Think of it as one more layer of protection for your new family.

Update Your Beneficiaries

Once you’re married, you’ll need to update the beneficiaries on your retirement accounts, life insurance policies, and any other financial accounts you have. You’d be surprised how many people forget to do this, which can lead to all sorts of complications later on. If you want your spouse to inherit your assets, make sure your accounts reflect that. It’s a quick and easy step that can save a lot of confusion in the future.

Talk About Debt (And Come Up With a Plan)

If one or both of you are bringing debt into the marriage, whether it’s student loans, credit card debt, or a car loan, you need to have an honest conversation about how you’re going to handle that debt together. Will you pay it off jointly, or will each person be responsible for their own debt? Will you prioritize paying down debt before making big purchases, like buying a house?

Having a plan for tackling debt will help you avoid any surprises or resentment down the road. Plus, getting on the same page about debt repayment will make your financial future much smoother.

Build an Emergency Fund Together

Life has a funny way of throwing curveballs when you least expect them—whether it's a job loss, a medical emergency, or an unexpected car repair. That’s why having an emergency fund is absolutely crucial. Before you tie the knot, sit down with your partner and decide how much you want to save for those "just in case" moments.

Experts recommend setting aside 3 to 6 months' worth of living expenses but don’t stress if you’re not there yet. The key is to start small and contribute regularly, so you’re both protected when life decides to throw you a financial plot twist.

This isn’t just about preparing for the worst—it’s about giving yourselves the peace of mind that, no matter what happens, you’ve got each other’s backs. Plus, knowing you have a financial safety net can make those first few years of marriage a lot less stressful. So, before you worry about the honeymoon destination, make sure your emergency fund is growing strong.

When you’re planning to get married, it’s easy to focus on the romantic stuff—saying your vows, picking out the perfect dress, and planning your honeymoon. But taking the time to protect your finances before you tie the knot is just as important. From having that initial money talk to considering a prenup, to budgeting for your future, these steps will help set you up for a financially strong marriage.

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