Financial Focus: Financial steps to take before and after your wedding day

Getting married is a huge decision. And it comes with a financial to-do list that’s arguably more important than choosing a venue or a cake.

Here are three financial steps to take before your wedding:

• First, share your income, spending habits, savings and any debts, like student loans or credit cards. Remember, your partner’s debt can become yours after marriage.
• Next, decide if you’ll combine all your accounts, keep everything separate or land somewhere in between.
• Finally, discuss your financial goals. Make lists of your short, medium and long-term dreams and find common ground.

After you’re married, here are three more actions:

• One: Update your employer benefits, like health insurance, usually required within 30 days of getting married.
• Two: Review and possibly change the beneficiaries on checking, savings and investment accounts as well as your retirement plans and insurance policies.
• And three: Update your tax withholding to reflect your new status.

Honest conversations and careful planning can help you build a financial foundation as strong as your relationship.

Jacob Anderson / Financial Advisor / 28200 HWY 189 Suite 03-160 / Lake Arrowhead, CA 92352 PH:(909) 337-8188. This content was provided by Edward Jones for use by your local Edward Jones Financial Advisor. Edward Jones, Member SIPC.