subject: Being Smart With Money As A Married Woman [print this page] Up to 50% of marriages are ending in divorce so, allowing your spouse to handle the all of the money situations is a risk that leave you stranded financially. No one wants to live as though she's just sitting around waiting for her relationship to just end, but it is always a smart idea to protect yourself just in case.
You wont be able to financially live without your husband if each credit card and bank account are under his name. What you need to do is, immediately open your own bank account as well as get a credit card that is in your name. Carefully look over any tax returns, real estate contracts and legal documents. Every year you should also get a credit report so you can avoid any surprises that may be in your family's debt situation.
A post nuptial accord can protect belongings acquired after the marriage, which involves anything inherited. Be sure that you're listed physically on the deed as joint owner, when buying a home, or make sure that your house is categorized as community real estate.
Sometimes a woman who isn't working doesn't feel comfortable joining in any financial decision making. For your safety, be advised of how the money is coming in and where it goes to. Many couples take turns when having to pay bills on a yearly basis. Go to any meetings that have an investment planner, attorney or accountant. If there ever is a problem, you will have the system of connections you require to make valuable decisions.
Be sure that both you and your spouse each have adequate life insurance, a will and of course a living trust. You should consider saving some money for long-term care (women typically live longer then men). Also try not neglecting your own retirement-if are filing a joint return with your husband, you can put in up to $4,000 a year towards a spousal IRA.
