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What Gets Cheaper When You’re Married?

Getting married can lead to financial benefits due to the combined incomes, shared expenses, and certain legal benefits.

Some things that can potentially get cheaper when you’re married:

  • Taxes: In many cases, married couples who file their taxes jointly may fall into a lower tax bracket, especially if there is a significant disparity in income between the two individuals.
  • Insurance: Some insurance companies offer discounts to married couples. For example, you might see reduced rates on car insurance because married people are seen as lower risk. Health insurance can also be more affordable if one spouse can be added to the other’s employer-provided insurance.
  • Living expenses: Shared living expenses, such as rent or mortgage, utilities, groceries, and other costs associated with maintaining a household, can become cheaper per person when these costs are divided between two people.
  • Retirement savings: Married couples have advantages when saving for retirement. For instance, a working spouse can contribute to a non-working spouse’s IRA, potentially doubling the family’s retirement savings.
  • Healthcare: If one person has a comprehensive healthcare plan, their spouse can often be added to this plan at a lower cost than if they each had individual plans.
  • Estate planning: Marriage often simplifies estate planning, as spouses typically have rights to each other’s estates and can transfer property to each other tax-free.

These are just potential examples, and the specific savings can vary greatly depending on various factors such as income, location, and individual circumstances. Additionally, while there are potential financial benefits to marriage, there are costs associated with marriage, such as the potential costs of divorce, that may counterbalance these benefits. Marriage should primarily be based on love and commitment, not just financial considerations.


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