Marriage is Good for Your Finances – Part 1
Marriage is good for your finances!
Keith Simon wrote an article entitled Marriage is Better for You Than You May Think. He makes an excellent observation saying “…I’m most intrigued by the way Western culture has convinced multiple generations that life’s highest value is personal autonomy, as measured by financial independence.” Our culture’s confused! Debt is a major factor today. Couples promise to marry when the finances work. Some live together to quote “save money.” Why not get married and save even more? GoBankingRates reports that “… married people tend to be better off financially than those who are single…Thanks to inflation, this is now more true than ever…In 2010, the median net worth of married couples 25 to 34 years old was four times as much as the median net worth of single households; as of 2019, married couples were worth nine times as much…”
The benefits of marriage outweigh all other forms of living arrangements. Studies show that married people are happier, their net worth increases, and they save more money. There are income tax benefits, social security, IRA, inheritance, and leave benefits. Married women, by and large, experience less poverty, and married fathers earn more income than single dads. Married couples benefit from Biblical financial principles in many ways. Learning to be content and thankful helps them avoid debt, gain margin, and experience freedom from financial stress. So, get married and experience the blessings God intended!
Is credit card debt keeping you from marrying? Let Christian Credit Counselors help. They can create a debt management plan specifically for you. For more information call the Crown Helpline at 800-722-1976 or visit online at crown.org/ccc.