A lot of money, time, and effort is required to make everything run seamlessly for the day you tie the knot–which promises to be the most memorable day of your life.

However, perhaps in the middle of all the wedding fever, you haven’t given much thought to your post-wedding finances, or how to manage them.

The day of celebration may be over and done, but your planning and budgeting isn’t supposed to end after your wedding. As a couple, you must now consider all your future plans.

  • Create a personal as well as joint financial plan to help you reach your goals–a joint savings account is a terrific tool for accumulating funds to reach shared ventures, such as a house or vacation fund.
  • Whether you’re in your twenties or fifties, this is the time to start thinking about your retirement life–together. An option to consider taking advantage of is a spousal RRSP.
  • Does your present job offer employee benefits with life insurance? If so, you may want to consider increasing your coverage amount/adding your new spouse as a beneficiary.
  • Don’t have any life insurance at all? Consider getting coverage. How would your new family maintain their current lifestyle? Would the mortgage be paid off or are you leaving them a debt versus an asset?

If you have no health benefits, talk to Smart Start Investments to see if getting extended coverage is right for you–for example, it covers things provincial plans don’t, such as if you have out of country visitors who suddenly require medical attention.

Now that you’re married, if you have employee benefits, make sure your spouse is included.

If you have a pension plan, you have the option to now name your spouse as beneficiary.

Consider disability insurance. After all, you’re not just considering yourself anymore. You may be able to rely on your spouse for income, but you probably also have many financial obligations. For how long could your spouse really support you and your family?

Put some thought into critical illness insurance. If you had a heart attack this morning, and survived, what would you do? How long could you handle your finances without working? Nobody ever anticipates being unable to look after themselves or loved ones. However, it happens. Plan ahead and get covered.

Learn more about :


  • Life Term Insurance
  • Critical Illness Insurance
  • Dental/Health Insurance
  • Disability Insurance

A good financial plan should be the foundation of your financial house. Contact us today to arrange for an integrated financial planning consultation.

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