Unfortunately, your honeymoon has to come to an end at some point. When you get back home, the party is over, but you still have plenty of things to do. Being a newlywed isn’t all about cuddling on the couch and watching romantic comedies.
Merge Your Money
Don’t assume that you have to merge all of your money into one account. Many couples keep more than one account for a variety of reasons. Having a central account that you both contribute to can take care of bills, household expenses, vacations, and other items. When you have an account separate from that central account, though, you get to decide what you do with your own money.
That’s not as unromantic as it sounds. One of the best reasons to keep a separate account is so you can buy your spouse presents without letting him or her know. If you share every account, there goes the surprise!
Fill Out Insurance Forms
Once you’re married, you can take advantage of each other’s health insurance options. If one of you gets a drastically better plan from work than the other, then it’s a no-brainer. You switch to that insurance coverage.
Sometimes it’s a bit trickier, though. Family plans can cost significantly more than individual plans. Also, your company might pay for your health insurance, but it probably won’t pay for your spouse’s. Getting on the same plan, therefore, could actually cost you more money.
Explore your options to decide which one makes sense for your new family.
And Don’t Forget the Life Insurance
If you don’t already have life insurance, now is a good time to get it. Eventually, you and your spouse will probably buy real estate together. That almost always means taking out a mortgage that requires two incomes to pay. Getting life insurance protects each of you from the financial loss that would occur if one of you died.
No, it’s not pleasant to think about, especially right now at the beginning of your life together. But it’s even less pleasant to think that the surviving spouse, not to mention kids, won’t have enough money to keep their home.
If you already have life insurance policies, don’t forget to list your spouse as the beneficiary. It’s a small but very important chore.
Write Thank You Notes
Technically, you have a whole year to write thank you notes to all the people who gave you wedding gifts. Don’t fool yourself, though. If you don’t get it done within a month or so, you probably won’t do it at all.
Even if you do manage to send out those thank yous at the end of the year, you will feel pretty embarrassed about it. Plus, you have to waste time writing “sorry for the late thank you, but…” It’s always best to get it over with as soon as you can.