Got A Spouse? How They Benefit You Financially

Consumer Reports: Married... With Benefits!

CONSUMER REPORTS -- Besides the love and companionship, Consumer Reports says marriage can lead to many financial bonuses. 

Married couples may find tax savings when they file a joint tax return. If you
married in 2017, you may be able to save more this tax season by itemizing your
combined deductions rather than taking the standard deduction. As for future tax
returns, talk to your tax expert.

Getting better or less-costly health insurance can be major benefit for newlyweds.
If you have family health coverage at work and your spouse doesn't, adding your
spouse to your policy may cost you a bit more but can give you far more peace of
mind.


If you think long-term, you can receive Social Security payments of up to 50
percent of your spouse’s entitlement. To get this so-called spousal benefit, you
must be at least 62 years old and your spouse must have already filed for benefits.
You can also save on car insurance.

Consumer Reports has found that for married
couples, cost of insuring two cars under one policy is typically less than having an
individual policy for each car.

Marriage can also come with some financial burdens if the bride or groom has
debt, a poor driving record or credit history, for example. Consumer Reports
advises to also discuss those issues before heading down the aisle.

© 2018 WFMY-TV


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment
TRENDING VIDEOS