Why It's Important to Have a Pre and Post Wedding Rainy Day Fund

Money is one of the biggest stressors when it comes to planning a wedding. It's also a major issue after marriage. That said, you'll want to make certain that you and your partner have a rainy day fund set in place. It's a good idea to begin saving even before you're married (hey, things can happen at any point in life). But if you've already tied the knot, sit down and discuss how to fund your rainy day account.

Why is it so important? You might think stashing cash in a rainy day account isn't important, but it's a necessary component to your financial freedom and peace of mind. Life happens. Think car repairs, loss of employment, moving expenses, or medical bills. These things happen. Having a financial cushion to fall back on is one little way to help reduce your stress. Most financial experts suggest having at least six months of living expenses in your rainy day account. This is particularly important if you are leaving your job and will be looking for a new source of income after you get married.

Now, you've saved money for your wedding, isn't that enough? No, that's money you've allotted to your wedding planning needs. You must have a separate account and it must be accessible. Your rainy day account is not your retirement fund, CDs, or your checking account. If you and your spouse are just starting out, figure out ways to save in a separate account. You can collect all your spare change and deposit it at the end of the week. Tax returns, monetary gifts, or bonuses from work are other good ways to fund your account. Some banks and debit cards will automatically round up amounts you spend and deposit it into an account. There are lots of creative ways to save some extra money. The hard part is not spending it. 

Save yourself financial stress now and in the future by getting a jump on your rainy day account. Do what you can, even if it's a small amount initially. Be disciplined, have a routine, or make it automatic. This is a great way to start your marriage off on the right financial footing.