Saving Money as Newlyweds – Cut Out the Duplicates

There are some great ways to save as a married couple.  Just look through your list of bills and see where you can combine accounts.  Here is a list of ways my husband and I cut out duplicates and saved money:

1. Insurance
   Combining auto insurance policies as well as renter’s/home owner’s policies can get you some great discounts.  This is also a good time to reevaluate the coverage you want now that you are together.  My husband and I have our two cars, renter’s, and ring insurance through one company.
2. Employee Benefits
   Compare your benefit plans to see if there are any duplicates.  Some employers offer incentives for not using their health coverage.  If you can get covered by your spouse’s benefits, you may be able to take advantage of these incentives.  Don’t forget your dental and optical plans if you have them.  Also look at your 401(k) company matching.  If one company matches to a higher percentage, it may be best to concentrate your 401(k) savings in that account for more money.
3. Cell Phones
   Some cell phone service providers offer a family plan.  As a married couple, you qualify for this plan.  Make sure to take a look at your current usage so that you can find the best plan for you and your spouse.  Also check to see if you qualify for a discount from your employers.  My husband gets a 20% discount from his employer.  So, when we combined plans and the discount, we are now saving $40/month on our cell phone service.
4. Bank Accounts
   Combining bank accounts can be a tricky decision.  If you do decide to combine accounts, you can save some money by cutting your fees in half.  If you have a checking account that charges a fee for falling below a certain balance, combining your accounts will make it easier to not fall below that line.  You also will only need to pay for one set of checks!

Have you combined any other accounts to receive discounts?  If so, what are they?

Tagged as: Banking, Finances