With marriage comes huge financial burden, but it can also benefit you in the long run. Kim Palmer, Personal Finance Expert at NerdWallet, joins Your Cheddar to discuss merging your bank accounts after walking down the aisle. Palmer says if your partner has a higher credit score than you, joining bank accounts can be a big advantage. Having a high credit score greatly impacts a number of financial decisions like getting approved for, or getting a better rate for, a loan. Plus, what are some tax benefits for a married couple? Married couples are able to save time and money by filing their taxes together. However, you have to be careful because marriage could actually result in a higher tax bill due to the "marriage penalty." It's a discrepancy that causes some married couples to pay more combined income tax than if they'd remained single.

Share:
More In Business
Why Now Is a Good Time to Invest
Surprise, surprise: tech is still the sector to watch, according to Karyn Cavanaugh, Chief Investment Officer at Carolinas Wealth Management. Learn how to properly diversify your portfolio.
Where Does Spotify Go From Here?
Seth Schachner, Managing Director at StratAmericas, weighs in on Spotify earnings and why that headline-grabbing deal with Joe Rogan could be worth that $250 million.
Load More