Getting Married Resource Center
 

You're planning to get married or you recently did. Welcome to the world of merged finances - where spouses may have joint debts and household expenses, bills and investment decisions, and income tax returns. They also may have value conflicts. The key to financial harmony: planning and communication. These online resources will help!

You're planning to get married or you recently did. Welcome to the world of merged finances - where spouses may have joint debts and household expenses, bills and investment decisions, and income tax returns. They also may have value conflicts. The key to financial harmony: planning and communication. These online resources will help!

     
 

Determine Your Wedding Costs

Weddings are big business. According to theknot.com, somewhere around 2.4 million couples marry each year, spending anywhere from hundreds to tens of thousands of dollars on each ceremony. As you begin to make your plans, you'll quickly find out how costs can add up. A budget should be one of your first priorities, because determining your bottom line will help you decide what style of wedding you'll have-informal, formal, large, small, etc.

Use the following basic budget planner to get an idea of what your expenses will be. How-to books or bridal magazines will help you think of every possible expense that could come up. Be as complete as possible in figuring your budget, and you'll avoid last-minute unexpected costs.

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Source: MetLife

Adjust your Tax Withholding

You should try to have your withholding match your actual tax liability. If not enough tax is withheld, you will owe tax at penalty. If too much tax is withheld, you will lose the use of that money until you get your refund.

Now that you've experienced a life event, you should find out if you should change the amount withheld from your paycheck.  To calculate your withholding, you can either use the worksheet on IRS Form W-4, or use the IRS Online Withholding Calculator.  

If you find that you need to change your withholding, be sure to submit an updated IRS Form W-4 to your employer.

Source: IRS

Online Budget Tool

Need help creating and managing your family's budget? Check out this no-cost online budget tool. To use the personalized budget tool, you just need to create a no-cost user web account.

Fill in as many questions as you can so your budget will be realistic. If you don't know the answer, just fill in as much as you know or leave the question blank. If you need to stop at any point, your entry will be saved and you can come back to finish your budget later.

The site will not ask for your social security number or bank account numbers. Your personal information will not be shared with anyone unless you're working with a professional on your budget. Everything you write on this site is for your eyes only.

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Source: The Beehive

Pre-nuptual Agreements

A prenuptial agreement, commonly abbreviated to prenup or prenupt, is a contract entered into by two people prior to marriage or civil union. The content of a prenuptial agreement can vary widely, but commonly includes provisions for the division of property should the couple divorce and any rights to spousal support during or after the dissolution of marriage.



Source: Wikipedia.org

Learn More About Filing Status

Generally, your marital status on the last day of the year determines your status for the entire year.

If you are unmarried, or if you are legally separated from your spouse under a divorce or separate maintenance decree according to your state law, and you do not qualify for another filing status, your filing status is single.

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Source: The Internal Revenue Service