Consolidating money after marriage
It seems excessive for us to keep 5 credit cards, 2 cards seems more appropriate.
We always pay the full balance of our cards every month so there are no complications there.
Two separate individuals decide to join together to form a new institution – the married couple.
Financial problems, including debt, increase stress and marital discord.
You should not do this until you are actually married since there are laws protecting you when you are married.
Before you get married you should keep your finances separate.
And yet seven out of ten American men and women enter into matrimony with some amount of debt – primarily credit card debt and student loan debt.
And the bottom line is this: In most cases, once you are joined in marriage, the debt of your partner becomes shared debt, not just in the moral sense, but legally, as well.Combining finances makes sense for many reasons, but not everyone wants to take this direction.