Consolidating money after marriage

But it might be worth it for the following reasons: Women May Have Greater Security Other research shows that women have greater security when they combine finances with their spouses.

That might seem counterintuitive, but remember, women are typically more prone to income interruptions, as they may take time off to start families.

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Two separate individuals decide to join together to form a new institution – the married couple.

Each person brings the totality of his or her self into this new entity; all the good and not-so-good qualities they possess are part of the deal.

I am about to get married and we will be combining finances, so please base your suggestions off of the assumption that our finances will be fully combined.

I currently have 3 credit cards of which 1 I have not used in years. Her 2 credit cards are from the same banks as the 2 or 3 credit cards that I am currently using.

By Abby Hayes/For years, the standard financial advice for couples was to combine their finances.

All income, debts and expenditures belong to both parties, so why not put them together?

It helps to be financially compatible before you get married, but if you work together and communicate about your finances, you should be able to make things work.

Remember that talking can prevent you from making financial mistakes when you are first married.

This is a time when you list all of your current debts, mistakes that you have made in paying on time, savings and other financial situations that you may have.

When you get married you are taking on each other’s debt and assets.

What would be the best way to approach combining our credit cards?