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5 Money To-Do’s For Newly-Married Couples

Believe it or not, there are still a lot of couples who got married in June this year. Many of them are still on their honeymoon bliss while the rest are starting to realize and are beginning to ask themselves what in the world did they enter into. It’s just not so like a single’s kinda life. 😀

So for those who just got hitched whether extravagantly or frugally, I’m pretty sure most of you are very excited for your new baby to arrive. You just could not explain the immense joy, hope, and love that new gift from heaven would bring to your new life.


But knowing the financial impact of having a baby could be really burdensome, planning for this early in your marriage should also be on top of your immediate concerns. Being a new parent is not about chillin’ and relaxin’ like it was before you tied the knot. You have to consider the high costs of having an adorable baby and raising a beautiful child.

These 5 money strategies should help you get started.

1) Re-examine your budget. A couple of months ago, your paycheck went to your daily allowances, expenses at home with your siblings and parents, and probably weekend dates with your (ex) fiancé/fiancée. Well, time’s up. You have to retool your budgeting sheet and include your wife and future child in your list.

Review your expenses and see that you weed out those unnecessary ones for the meantime (or permanently) such as gimiks, expensive dinners, and vices like cigarette-smoking and too much drinking.

Use that freed up cash as savings for upcoming expenses for your future baby.

And don’t forget to pay all your debts you both incurred individually and jointly prior to the wedding. Make use of your cash wedding gifts to address the unpaid bills and ‘forgotten’ friends.

2) Invest for your future child’s college education. You must be wondering how the prices of baby diapers and formula milk and even milk bottles have gone up so crazy in the last few years. What more if we talk about the college education of your future baby?

Save at least a portion of your monthly salary in an educational plan or invest it directly in a mutual fund as early as now.

While many will think that it is too early to consider that for your budgeting, always remember that the earlier you prepare the earlier you will achieve your goals. And you can have even more.


3) Buy a health and life insurance. Starting a family means you will not be thinking about yourself only any longer. You have your partner in life.

And soon you will be having another young man or woman who will ask you how much you love them. One way of showing this love to your future children and your better half is by getting health and life insurance.

The premiums may be a “expensive” for your current budget but an in force or actively in good standing insurance policy can replace your income and the needs of your loved ones will still be taken cared of should you get sick or you pass away. But pray that it won’t happen too soon.

You just got married, ano ba?!


4) Have a weekly money talk with your spouse. Discuss about money issues and concerns regularly with your spouse. Making this as a habit with your better half is a sure-fire way to keep everything open and transparent between the two of you.

If you have money problems, don’t keep them to yourself. Talk it out with your spouse and seek her “advise” and practical suggestions. Asking your spouse for some sound advise and support will even strengthen your marriage. This should also avoid disagreements and misunderstandings in the future.

You should also be talking about your individual priorities and financial goals. If your goals complement with each other (like buying a house, preparing for retirement, etc.), agree with each other on how to achieve those goals together.

If financial goals don’t match, check which ones you can just let go and work out the rest with your spouse.


5) Increase your income but increase your time for each other as well. Preparing and accomplishing the first 4 strategies mentioned may not be a walk in the park for many newly-married couples. Especially if you have parents and siblings who rely on you financially prior to your marriage.

While dealing with this kind of situation may be very difficult for newly-married couples, the best thing to do is to find ways to increase the cash flow. Some of the best suggestions to increase your income can be found here.

But regardless of your financial situation, for richer or poorer, you as husband and wife should not only think about increasing your income. Finding creative ways to be together joyfully on a daily basis is the ultimate key to a successful marriage.

Sabi nga ng Eraserheads sa kanilang awiting Toyang,

Mahal ko si Toyang
Pagkat siya’y simple lamang
Kahit namomroblema
Basta’t kami ay magkasama.
Madalas man kaming walang pera
Makita lang ang kislap ng kanyang mga mata
Ako ay busog na
At nakatambay kami sa Tandang Sora.

But don’t be satisfied by being a Toyang or by being Toyang’s husband forever. You need to look back, review, act on these 5 money strategies mentioned in this article for you to have a happier new life as couples and future parents.

May #forever kung susundin mo ang mga ito. 😉

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Rock your way to abundance!



One thought on “5 Money To-Do’s For Newly-Married Couples”

  1. I’ve read that money problems are the most common reasons why couples fight.

    For that one, I think the “weekly money talk” is most important. Find out what money means to each other and find a compromise. (This is T. Harv Eker’s lesson in “Secrets of the Millionaire Mind”)

    For me, as an investor and one who read a dozen personal finance books, money is freedom. I want enough money to never need to work again and be free to pursue our life’s goals. Every peso spent is a step backward from that dream.

    That might make me incompatible with someone who thinks “spending money = fun and enjoyment” or “money = evil so we shouldn’t have a lot of it.”

    Anyway, have a weekly talk with your spouse about your finances so you can find a compromise that works for both of you, and hopefully develop a more positive way of handling things.

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