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Financial Tips for Newlyweds

Bank accounts and finances are not necessarily top of mind of newly weds. This can have serious consequences because a marriage is a financial partnership just as much as it is a romantic partnership.

The essential elements of the marriage process are covered in detail on the website of the NSW Registry of Births Deaths and Marriages, as applicable for NSW residents

The most common form of joint account is for husband and wife and again the structure and style of your banking accounts is a matter that you need to discuss and then ensure that your accounts reflect your wishes.

Your lawyer will also advise in relation to any pre marriage assets protection and also in relation to your wills and the impact of marriage on your assets.

Review Your Finances Before Your Marriage

The best way to avoid any uncertainty or tension is to sit down and review all of your finances with your fiancée before the wedding. Take time and show him or her everything, including bank accounts, taxes, benefits, investments, debts, property holdings, credit card statements and bills.

A great way to do this is to sit down with the various professionals eg your lawyer, your accountant, and indeed one of your financial institutions representatives to discuss the various accounts and financial products and services to best meet your individual and collective needs.

Financial Planning for Newlyweds

Marriage changes everything about your financial situation, including potentially your tax status and other obligations. If you plan to have children and also buy a home, you will need to start saving for them now. Holiday Coast offers some excellent tools to help you plan for this, including Term Deposits, and a variety of savings accounts.

Holiday Coast also provides some excellent budgeting and savings tools for newlyweds including a Budget Planner and a savings plan simulator to help you organise your savings for your wedding and beyond that magic day.

We highly recommend that you use these savings and budgeting tools in your planning to ensure that you stay in control of the wedding budget, and position the budget for your new married life together.

Wedding Checklist

A wedding checklist allows you to be organised and focused so when the big day comes you will not worry that you have forgotten something.

Some of the checklist items to focus on are:

  • Start a wedding folder or binder.

  • Find a great venue for your wedding.

  • Reserve a date.

  • Work out your budget using the tools listed in this article.

  • Select your wedding party well-ahead of time.

  • Start the guest list as soon as possible and review and finalise.

  • Hire a wedding planner or consultant, if needed.

  • Find your desired photographers, bands, florists, and caterers.

If you need a personal loan to help you cover some of the costs for your wedding, call Holiday Coast on 1300 365 7 24 or email We’ll be happy to show you how a personal loan may help you deliver your dream wedding.


This article provides general information only and should not be relied upon as financial product advice.