It may be surprising to some but not everyone has dreams of what their special day will be like. Some of us may not actually give marriage a second thought past whether we even believe it is an option for us. So, for those of us who need a little extra motivation to take the plunge — here are “5 Financial Benefits to Getting Married”.

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1. Death Benefits

I actually wanted to label this section “morbid advantages to tying the knot” because — let’s be honest, most of you don’t want to go straight from your wedding day to the morgue. The image of spending your life with someone is usually filled with conquering fears, children, and/or building businesses. No one wants to think of all the awesome benefits to the death of a loved one. Unfortunately, the cruel reality is that death is inevitable.

When your spouse leaves this earth, you are most likely the primary beneficiary to all of their financial assets, from their bank accounts, investments, and any life insurance policies. Of course, the initial use for these funds should go towards funeral expenses and settling any debts, but after that these funds can go towards college funds, unaccomplished dreams, and any other financial conquests.



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2. Tax Benefits

Another very boring — I mean grown-up — financial benefit of being married can come with taxes. Although, this one is a little tricky depending on how much you make. When Married filing jointly, you can make more money than you would have to make if you were single to receive tax credits, like the Earned Income Tax Credit. However, after reaching a certain bracket, benefits are limited. Most tax benefits worth mentioning are tied to having children, which you technically don’t have to be married to do and is way more expensive year-round than the refund you get during tax season.



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3. Health Insurance

Now we are getting to the good stuff. What I would consider one of the pretty major financial benefits of marriage is shared health insurance. Marriage allows for a non-working spouse to be covered under a working spouse’s policy with no questions asked. In addition, under Obamacare, which considers household size and income, a two-person one income home will have a higher chance of getting tax credits for health insurance than a single working person.



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4. Child Rearing

There are also several financial benefits to raising children with a spouse. One benefit is the option to opt out of child-care. With the growing expense of childcare, many couples are choosing for one parent to stay home with children while one parent goes to work full time. For my family, when I calculated the cost of me working full-time and childcare, I realized that I would literally be working to give my entire check for childcare. It was way more cost effective for my husband to work part-time and go to school, while I stayed at home. It also opened opportunities for me to work from home.

This can also play a role in the normal day-to-day activities, where in two parent households you usually have someone to leave the children with. In single-parent households, you may have to rely more on sitters if you lack family support.



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5. Teamwork Makes The Dream Work

No, seriously, this is the biggest financial benefit of marriage. Have you not heard the saying that two heads are better than one? Marriage should create a partnership that allows you to combine incomes and tackle life together. This means less money spent towards living spaces, food, and bills that two single people living separately would have to pay and more money to go towards debts, savings, and investments.

In addition, marriage allows opportunities that may not be afforded to someone who is single, such as one spouse leaving a full-time position to start a business or finish school. In most cases, you would need to have substantial savings to make a major life shift. In marriage, at different times either spouse can assume financial leadership to lighten the burden or a drastic change.



My Appeal for Marriage

Of course, divorce can be dramatically more expensive than the benefits of marriage, so please get married for the right reasons. Know that you should be in it for the long-haul and you should totally like the person you are with, hopefully as a friend, in addition to a romantic partner.

Now I’ve read enough blog comment sections to know that I need to give this disclaimer: I am by no means knocking the single life. There are plenty of benefits to being single. That’s just not what this blog is about.

Stay calm and marry on.