Congratulations on tying the knot! As if planning a wedding wasn’t enough work, newlyweds have a whole new set of responsibilities. You’ve entered into a lifelong partnership with your significant other, and it’s worth taking some time to plan ahead for your lives together. Here are some things you may want to look into after getting married:
It’d be nice if all the wedding work ended the day of the wedding, but your duties are far from over. Be sure to write, address and send out thank-you cards to everyone who attended or contributed to your gift registry. It may seem like a lot to take on, but most people come to look back fondly on the work they put in both before and after the wedding.
Updating your information at work
Once you’re done being congratulated by your boss and colleagues, take the opportunity to update your personal information on any pertinent forms at your job. This is particularly important if you’re changing your name or hope to be included in your partner’s workplace insurance plan.
Where you want to live
Just after getting married is a good time to discuss where you’d like to spend the rest of your lives together. Talk to each other about your plans for the future and where you’d like to end up, as well as any places you may have dreamed of living along the way. You might have contrasting visions for the future, but you’re a team: talk to each other and figure out what you’d both love. Once you’re on the same page, you can more easily figure out a plan to make those dreams happen.
Whether to combine your finances
Now’s the time to decide whether your partnership extends to the fiscal sphere as well. Be sure to communicate your expectations clearly with each other regarding budgets and spending. Many marital struggles begin with secret bank accounts being discovered, so skip all that and take the time to discuss any accounts you’ll open jointly, as well as ones you’ll keep separate. You don’t have to keep each other constantly apprised of everything you do (that would make planning surprises impossible), but take steps to cultivate openness and trust between each other.
Now that you’re married, you may also want to decide how you’ll file your taxes. You can speak to your accountant or use an online worksheet to figure out whether declaring your income jointly is worthwhile, or if you should file separately.
Any good plan for the future should account for contingencies. As tough as it is to think about, you should plan for how your spouse will be provided for in the event of your death (or vice versa). Life insurance can provide financial security if one spouse passes away unexpectedly. There are many kinds of life insurance, from affordable term life insurance to permanent life insurance policies that offer additional perks like a cash value component. Choosing the right policy will depend on your specific needs and financial situation. Their differences aside, life insurance can give you the peace of mind that comes with knowing your loved ones will be taken care of if you pass away unexpectedly.
Appreciating the small things
With the planning out of the way, you’ll be able to relax and enjoy being with each other. The wedding may be over, but this is only the beginning of the best times of your life, so try not to get too tangled up in day-to-day tasks and appreciate what you both have. No matter what comes, you can both rest easy knowing you’ll be facing the future together.
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