Marriage and money

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: the “good credit” spouse’s cards won’t help rebuild the weak credit score, but could hurt the good score.

• Keep some checking accounts separate too. If you’re both used to earning and spending your own money and have decided to kick in together for family finances, keep three checking accounts. One for each spouse and the household account, to which they both send money to cover shared expenses.

• Talk about it all. Come up with a specific amount for purchases that are so big the couple has to discuss and agree to them together. Below that amount, each can spend the money without asking. New couples should have many discussions about their financial goals, too; it’s easier to make the household money work if both partners are committed to the same ideal. Even if one spouse is the money person and the other isn’t, set aside some time every month to discuss the family budget so both know where the money’s coming from and where it’s going. Even the spouse who doesn’t manage the family money should know where it is and how to get at it, if necessary.

• Do the paperwork. Change the beneficiary on your workplace retirement accounts, and your life insurance.

• Eliminate redundancies. Compare health-care plans from both jobs to decide whether you each want to stick with the plan you’ve got or double up on the better plan. Even duplicate couches, books and kitchen goods can net you some cash in a garage sale.

• Save big, even when it seems impossible. If two households are combining into one, you should be able to save one entire salary, says Dvorkin. This time he might be being optimistic: Couples don’t typically cut their expenses in half when they marry. But there’s no time in life when you can be happier on less money than in that first year of marriage.

Live lean while you are young, squirrel away as much as you possibly can, and you’ll have the downpayment and diaper money when you need it.