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Starting Your Marriage on the Right Foot

After the stress of the wedding, it is time to think about your new life together. After you get used to sharing the bathroom, splitting the chores and those annoying habits you wish they would have told you before the wedding, it is time to decide how you will finance your new life.

Setting the ground rules
Decide whether you will have joint bank accounts or separate. You may even want to have your own accounts and a third joint account. If they are separate, who will pay which bills? Deciding this stuff before you start spending money can save you the frustration of trying to figure it out when you are already drowning in bills.

This is also the time to start a savings account, if you don’t already have one. Emergencies happen, especially when you are just getting used to each other. If one of you finds out that the budget you’ve set up isn’t working, you’ll want to have some emergency cash to cover any bills. You have to remember, you are now a unit. Whether you share your money or not, you are in this together.

Savings are even more important if you have children. Accidents involving children are unpredictable and scary. You will want to be prepared for any situation that may come up. Not to mention, it isn’t a bad idea to start a college fund for them while they are still young.

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