Congratulations on your marriage! Now comes the less romantic part: merging your financial lives. Here's how to do it right.
The Post-Wedding Financial Checklist
- Update your W-4 tax withholding
- Add spouse to insurance policies
- Update beneficiaries on retirement accounts
- Decide on joint vs. separate bank accounts
- Set up a system to track expenses together
Three Ways Couples Handle Money
1. Fully Combined
All money goes into joint accounts. Simple but requires full trust and similar spending habits.
2. Fully Separate
Each maintains their own accounts. Split shared bills. Keep financial independence.
3. Hybrid (Most Popular)
Joint account for shared expenses, personal accounts for individual spending. Best of both worlds.
Setting Up Partner Mode
Whatever structure you choose, Pocket Clear helps you track it:
- Link with your spouse's account using a code
- Mark expenses as "Mine," "Partner," or "Shared"
- View combined totals anytime
- Each maintain privacy on personal expenses if desired
First Year Financial Goals
- Emergency fund: 3-6 months of expenses
- Pay off high-interest debt: Credit cards first
- Start retirement contributions: At least get employer match
- Build savings habits: Automate monthly transfers
The Weekly Money Date
Schedule 15 minutes weekly to:
- Review the week's spending
- Discuss upcoming expenses
- Celebrate savings wins
- Adjust budget if needed
Pocket Clear makes this easy with at-a-glance summaries.
Start Tracking Together
Download Pocket Clear free. Simple expense tracking for couples and expats.