(Guest Post by Ryan Sandberg)

Marriage and divorce rates are a fluctuating thing that are very often affected by the state of the current economy. By many estimates, divorce rates saw a drop during the recession because people simply weren’t able to get divorced. This was due to lack of income and couples being tied to a mortgage. There are many other reasons that people stayed in marriages during such difficult economic times, but many people are seeing the benefits of getting married.

In times such as these, people who have been putting off taking that leap into wedded bliss have done so because of hesitancy or lack of time. Besides the fact that you want to share your life with your loved one, getting married has the added benefit of making the best financial sense:

Splitting The Bills

Perhaps the most obvious, and best reason, that people get married are the huge cost benefits of splitting the bills. When you have two incomes, you’re able to get a lot more done and increase your buying power very quickly.

Improved Credit Scores

When two people get married, usually one has a much lower credit score than the other. It can take years of diligent efforts to improve your credit score. This is a big annoyance when you’re getting married and planning to buy a car or home. When you get married, you can take out a home or auto loans under the name of the spouse with the better credit score. This will ultimately save both of you a lot of money because you’ll be able to get better terms for you loan and improve your buying power.

Bigger Tax Return

This has long been one of the best financial benefits of being married. When you’re filing as a married on your taxes, you save a lot of money and get more back on your return.

Long-Term Savings

Basically put, when you have two incomes, you’re able to put far more towards your future than if you were saving as a single person. Often times one person’s income is put solely toward the bills while a large portion of the other spouse’s income is put towards saving for retirement and other investments.

There are a lot of financial benefits to being a married couple, regardless of the current state of the market. In no way does this mean that you should get married only because of the monetary benefits, but it is a huge plus. If you’ve wanted to get married, but simply haven’t had the time to do so, it might be the best decision when establishing a good financial base for both your futures.

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Guest Post by Ryan Sandberg – a freelance writer with a passion for entrepreneurship, efficiency and ice hockey. He enjoys researching and sharing his opinions/findings on finance, marketing, entrepreneurship and current tech trends.

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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