{"id":3479,"date":"2016-04-06T16:08:05","date_gmt":"2016-04-06T20:08:05","guid":{"rendered":"https:\/\/goday.ca\/blog\/?p=3479"},"modified":"2021-09-30T11:05:36","modified_gmt":"2021-09-30T15:05:36","slug":"tying-the-knot-and-merging-your-money","status":"publish","type":"post","link":"https:\/\/goday.ca\/blog\/tying-the-knot-and-merging-your-money\/","title":{"rendered":"Tying the Knot and Merging Your Money"},"content":{"rendered":"<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-3475 size-medium\" title=\"Tying the Knot and Merging Your Money\" src=\"https:\/\/goday.ca\/blog\/wp-content\/uploads\/2016\/04\/4-6-2016-3-46-31-PM-300x188.jpg\" alt=\"Tying the Knot and Merging Your Money\" width=\"300\" height=\"188\" \/><\/p>\n<p>Congratulations, you\u2019re getting married. And one of the last things people think about once they tie the knot is how to spend and save money as a couple, especially once you\u2019ve merged your funds. That\u2019s why we\u2019ve created a step by step guide of what to do when it comes to merging your financials.<\/p>\n<p><strong>Choose the Right Bank<\/strong><\/p>\n<p>As of right now, you and your spouse may bank with different financial institutions and sometimes people can bank with more than one. But finding the right bank that fits both your needs is key when it comes to saving and merging your financials. Talk about what you\u2019re both looking for out of a joint account and the pros and cons of who you bank with at the moment. Establish what the joint account will be used for and where the funds are coming from. Merging your money forces you to be more considerate of the funds that are constantly going in and out as it is not just your money contributing anymore. Merging financials can make things a lot simpler when you have the right bank working with you and your financial needs.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-3477 size-medium\" title=\"Choose the Right Bank\" src=\"https:\/\/goday.ca\/blog\/wp-content\/uploads\/2016\/04\/4-6-2016-4-01-09-PM-300x200.jpg\" alt=\"Choose the Right Bank\" width=\"300\" height=\"200\" \/><\/p>\n<p>Photograph via <a href=\"https:\/\/www.flickr.com\/photos\/morbokat\/15853636044\">Flickr<\/a><\/p>\n<p><strong>Communication<\/strong><\/p>\n<p>We\u2019ve already touched on it and when it comes to merging your money, communication is a huge factor. Knowing about your spouse\u2019s financial history, credit scores, any outstanding debts and credit cards, there is nothing to hide when it comes to joining funds. Not to mention with both partners having access to the account there is no room for error as everyone can see the transactions being made. Discussing <a href=\"https:\/\/goday.ca\/blog\/five-reasons-youre-unsuccessful-at-saving\/\">savings goals<\/a> and <a href=\"https:\/\/goday.ca\/blog\/understanding-the-tfsa-withdrawal-rule\/\">investments<\/a> is another conversation that needs to be had and worked on together as one person cannot be doing all the saving and one doing all the spending. When it comes to merging your financials there are many factors included which requires the expertise of a financial advisor and knowing what your financial goals are.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-3478 size-medium\" title=\"Communication\" src=\"https:\/\/goday.ca\/blog\/wp-content\/uploads\/2016\/04\/4-6-2016-4-04-08-PM-300x199.jpg\" alt=\"Communication\" width=\"300\" height=\"199\" \/><\/p>\n<p>Photograph via Pixabay<\/p>\n<p><strong>Lifestyle Expenses<\/strong><\/p>\n<p>When you get married your lifestyle habits come with it! Is your next step to buy a house? What about vacations, expensive dinners, events and the ways we like to treat ourselves such as getting our nails done or going out for a drink are only a few of the fun things that are now a part of having the conversation of setting your financial limits and goals. And your lifestyle habits include more than just money, but it\u2019s what\u2019s paying for those habits that you now need to share with a merged bank account. What about the serious conversations such as starting a mutual <a href=\"https:\/\/goday.ca\/blog\/how-to-financially-plan-for-the-unexpected\/\">emergency fund<\/a> or preparing for child education funds? There may have to be adjustments made here and there, but once you are in routine with your budget you will start to work as a couple with your money. \u00a0It\u2019s many of these financial decisions that will affect your lifestyle and any changes that need to be made.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-3476 size-medium\" title=\"Lifestyle Expenses\" src=\"https:\/\/goday.ca\/blog\/wp-content\/uploads\/2016\/04\/4-6-2016-3-59-15-PM-300x223.jpg\" alt=\"Lifestyle Expenses\" width=\"300\" height=\"223\" \/><\/p>\n<p>Photograph via Pixabay<\/p>\n<p>What is your advice when it comes to merging financials? We want to hear your tips in the comment section below.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Congratulations, you\u2019re getting married. And one of the last things people think about once they tie the knot is how to spend and save money as a couple, especially once you\u2019ve merged your funds. That\u2019s why we\u2019ve created a step by step guide of what to do when it comes to merging your financials. Choose [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":3475,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[7,9,10,11],"tags":[808,1112,1148,1594,1757],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v20.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Tying the Knot and Merging Your Money<\/title>\r\n<meta name=\"description\" content=\"Before tying the Knot we created a step by step guide of what to do when it comes to merging your financials. Read the steps now!\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/goday.ca\/blog\/tying-the-knot-and-merging-your-money\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Tying the Knot and Merging Your Money\" \/>\r\n<meta property=\"og:description\" content=\"Before tying the Knot we created a step by step guide of what to do when it comes to merging your financials. Read the steps now!\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/goday.ca\/blog\/tying-the-knot-and-merging-your-money\/\" \/>\r\n<meta property=\"og:site_name\" content=\"GoDay Cafe\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/GoDay.ca\" \/>\r\n<meta property=\"article:published_time\" content=\"2016-04-06T20:08:05+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2021-09-30T15:05:36+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/goday.ca\/blog\/wp-content\/uploads\/2016\/04\/4-6-2016-3-46-31-PM-e1459973137264.jpg\" \/>\r\n\t<meta property=\"og:image:width\" content=\"799\" \/>\r\n\t<meta property=\"og:image:height\" content=\"499\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\r\n<meta name=\"author\" content=\"GoDay.ca Customer Education Team\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@GODAYca\" \/>\r\n<meta name=\"twitter:site\" content=\"@GODAYca\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"GoDay.ca Customer Education Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/goday.ca\/blog\/tying-the-knot-and-merging-your-money\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/goday.ca\/blog\/tying-the-knot-and-merging-your-money\/\"},\"author\":{\"name\":\"GoDay.ca Customer Education Team\",\"@id\":\"https:\/\/goday.ca\/blog\/#\/schema\/person\/5dd4477e7fa335c98b4ab9e4af1a2c3d\"},\"headline\":\"Tying the Knot and Merging Your Money\",\"datePublished\":\"2016-04-06T20:08:05+00:00\",\"dateModified\":\"2021-09-30T15:05:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/goday.ca\/blog\/tying-the-knot-and-merging-your-money\/\"},\"wordCount\":531,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/goday.ca\/blog\/#organization\"},\"keywords\":[\"Financials\",\"Marriage\",\"Money\",\"Savings\",\"Wedding\"],\"articleSection\":[\"Holiday's &amp; Events\",\"Life\",\"Money\",\"Saving\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/goday.ca\/blog\/tying-the-knot-and-merging-your-money\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/goday.ca\/blog\/tying-the-knot-and-merging-your-money\/\",\"url\":\"https:\/\/goday.ca\/blog\/tying-the-knot-and-merging-your-money\/\",\"name\":\"Tying the Knot and Merging Your Money\",\"isPartOf\":{\"@id\":\"https:\/\/goday.ca\/blog\/#website\"},\"datePublished\":\"2016-04-06T20:08:05+00:00\",\"dateModified\":\"2021-09-30T15:05:36+00:00\",\"description\":\"Before tying the Knot we created a step by step guide of what to do when it comes to merging your financials. 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