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The Great Hunt: Top money tips for newlyweds

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  • forzaitalia
    forzaitalia Posts: 61 Forumite
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    We have been married 26 years, and despite an age difference of 20 yrs we are still going strong. Our secret? Be open and honest at all times and share your feelings. Try not to hold a grudge for days on end, like some people do, such a waste of time and energy. Try to support each other wherever possible - hearing some of my friends moan about their other halves is heartbreaking. It should not be a battle ground. We have always had a joint bank account and share our money. Who earns more is irrelevant - you are a partnership. Weddings are fun, but can be a huge expense for just one day. Better to save the money for a deposit on a home (can be difficult now I know) or the best holiday ever, or to furnish your home. Or best of all just LOVE each other!

    Just my opinion!
  • gloriouslyhappy
    gloriouslyhappy Posts: 597 Forumite
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    Have a joint account into which all income is paid, have a regular savings account set to mature when something big comes up, like the car stuff (insurance, MOT, tax, roadside service etc) xmas, or similar, and divide what's left equally into your own personal accounts for spending or saving as you wish on a 'no-questions asked' basis. Additionally, you should each have an ISA, try and pop something from your personal money into it each month, and if there's any extra money left over or a windfall comes in, divvy it up into the ISAs.

    This works for us, but whatever system you use, just make sure you start it immediately, have it all out in the open, stick to it, and review it on a regular basis. That way, the finances are sorted, and you can get on with enjoying your life while securing your future.
  • picklekin
    picklekin Posts: 889 Forumite
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    Plan for the marriage NOT for the wedding, if you can afford a big fancy do fair enough, but don't put yourself into debt just for one day (it will be such a blur you might not remember a lot of it anyway!)

    For us everything goes into one pot, my OH earns a bucket more than me but its all just "our money" at the end of the day. We agree on all large spends (anything over £100 usually counts) I think this is mostly because we'd like each others input on a big purchase rather than having to check though.
  • minerva_windsong
    minerva_windsong Posts: 3,808 Forumite
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    Do what works for YOU on your money - whether that's a joint account that everything goes into, a bills pot (split depending who earns what) paid into from your own accounts and then the rest left over, or keeping things totally separate. I have friends who swear they will never get joint accounts with a partner because one of their parents had financial difficulties, which only came out after the parents got divorced and the other parent lost out through the financial link, and whilst that's something of a sad reason to do it if it works for them then fine.


    However, I do agree with the person who said whatever you decide be completely clear about it from the off.
    "A mind needs books as a sword needs a whetstone, if it is to keep its edge." - Tyrion Lannister
    Married my best friend 1st November 2014
    Loose = the opposite of tight (eg "These trousers feel a little loose")
    Lose = the opposite of find/gain (eg "I'm going to lose weight this year")
  • gt568
    gt568 Posts: 2,502 Forumite
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    1. Don't do it.
    2. Still don't do it.

    I thank you.
    {Signature removed by Forum Team}
  • burnoutbabe
    burnoutbabe Posts: 1,338 Forumite
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    I can't see any of the advice changes from "moving in with your other half" over actually marry them? My financial affairs/money management won't change when I marry my OH particularly, we won't suddenly get joint accounts as no reason to.

    The though that as a 40something lady i'd have to "keep £2 for myself" or agree any spending over £100 just makes me go "you what?"
  • pawsies
    pawsies Posts: 1,957 Forumite
    First Anniversary First Post Combo Breaker I've been Money Tipped!
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    Shouldn't this be on the weddings board? :/
  • 74jax
    74jax Posts: 7,929 Forumite
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    pawsies wrote: »
    Shouldn't this be on the weddings board? :/

    I'm not sure why it's just newly weds, surely there's moneysaving tips for anyone moving in together. Seems strange to make it just for newly weds.
    Forty and fabulous, well that's what my cards say....
  • JIreland
    JIreland Posts: 45 Forumite
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    after witnessing what my brothers ex wife did to him; get a post nuptual agreement drawn up before the big day and signed as soon as you get home from the honeymoon
  • macloud
    macloud Posts: 13 Forumite
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    Use a joint bank account (only !). If you feel unable to do that, I think you need to ask yourselves : where is the trust in your marriage ?


    Macloud (married 42 years - same girl !)
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