The married life gets underway when the couple exchanges vows. Sound marriage advice can help newlyweds establish and maintain a strong bond with each other. When a couple first starts off, most advice will be geared towards how to love each other despite differences, how to talk and be understanding, and how to compromise where needed. But finance is one important subject that married couples cannot afford to ignore.

Have you ever noticed that books and other publications distinguish between personal finance and family finance? Finances can get especially tricky when multiple people are involved. In this article, we are going to take a look at a few powerful money tips for married couples.

Create a Written List of Money Rules

Household budgets and family goals will have a direct impact on the marriage, so it is important for you and your spouse to create a written list of money rules. These rules will help you both stay disciplined when it comes to saving money, spending money, and taking care of expenses. The list of money rules will help you and your spouse stick with realistic guidelines that will govern the household income properly.

Eliminate Debt

Marriage advice is not sound if it does not address debt. Debt is notorious for causing problems for married couples. Unfortunately, many people accumulate debt and bring their debts into their marriage. It is not unusual for one to have an outstanding student loan and outstanding credit card debt when entering a marriage.

You and your spouse should create a solid plan that will help eliminate debt surrounding your marriage. Start by transferring balances from high interest credit cards to credit cards with a lower interest rate. If the balance cannot be transferred, pay off the credit card with the highest balance or highest interest rate first. In the meantime, be sure to pay the minimum on the other credit cards.

Cutting down on unnecessary expenses can free up money that can be used toward debt. Personal finance and family finance can be mastered if couples learn how to keep their priorities in order. The beauty of being a couple is that you have each other for credibility and to keep the other in check.

Live on One Salary

Married life is not fun if you and your spouse are facing stressful money issues related to future plans. A few money issues that plague married couples are college tuition for children, retirement savings, and capital for the dream home.

Is a dual income supporting your household? If so, you and your spouse should consider living on one salary. This will help you and your mate save a tremendous amount of money for future goals.

Emergency Funds Account

An emergency can take place at any time. Creating a budget that involves putting money into an emergency funds account can help you and your spouse prepare for unexpected expenses. Many leading personal finance and family finance experts encourage married couples to deposit at least $100 into their emergency funds account every month.

Insurance Coverage

As newlyweds, you need solid protection against massive medical expenses and a long-term disability. Your employer may offer disability insurance, but make sure that it is enough to cover you and your spouse’s primary needs if you get sick or injured. There is a possibility that your illness or injury may hinder you from working for several months.

Other Income

Passive income is one route that should be examined by you and your mate. Passive income can come from assets that generate monthly revenue, or you can also get extra income from less consistent jobs. Freelance work allows people to use their skills (like writing, art or website design, or furniture-making) to make income on the side. Day trading or trading stocks can give a big return on investment in just a few hours a day when done properly. Rental properties can generate dependable monthly income for your family if you decide to invest in real estate this way. Whatever it is that you choose, remember that the decision should be made together!


When taken, sound marriage advice can help strengthen the bond of a couple. Though it’s not a light topic for the honeymoon, personal and family finances should be discussed to ensure the stability of the household—both currently and in the future. A little bit of organization and the right about of conversation can help any couple master their finances with ease.