This 30-Day Challenge Will Help Any Married Couple Conquer Their Money Woes

Woman holding a bouquet with money
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Congratulations! You’ve said your vows. You’ve thrown that bouquet (who knew Grandma could jump like that?). You’re even rocking a nice tan from your honeymoon.

Now married life really begins. Like it or not, your finances are a major factor in your marriage. According to Dave Ramsey, 86% of couples who got married in the last five years started out in debt.

It’s OK. Take a deep breath. We’ve put together a one-month challenge for married couples to get your finances in shape for your happily ever after.

Do you accept the challenge? If so, say, “I do” (again).

Day 1: Start Adulting With a Life Insurance Policy

When you’re married, you have someone else who counts on you. If you have a family, the last thing you want is to leave them without any financial support once you’re gone.

Getting a life insurance policy is a smart move — and it’s not as hard as it used to be.

Ethos, for example, can get you term life insurance in less than 10 minutes — with no medical exam — for coverage up to $1 million. Ethos offers a digital application, and customer service is available if you have questions.

It partners with a major life insurance carrier to quickly offer policies as low as $6 a month.

You don’t really want to think about “‘til death do us part,” but it’s a conversation you need to have. You’ve got this!

Day 2: Budget Your Wedded Bliss

A budget is not fun, but you’ll be surprised at how freeing it can really be, especially for a married couple. You’ll know your limits and take the mystery out of your monthly spending.

The Empower app is a powerful budgeting tool that can help you figure out how you’re spending your money and develop a budgeting plan to keep you on track.

Link the app to your bank accounts, and it will track your spending. It will also categorize your spending so you can see exactly where you are overdoing it.

That’s right: It will show you just how many times you went out for dinner because it was your turn to do the dishes.

Day 3: Tackle Your Credit Card Debt

Sometimes “for better or for worse” includes taking on your spouse’s credit card or other high-interest debt. Don’t let it get you down. Instead, take those balances down in a smart way.

That’s where a company like Fiona can be helpful. It can help you find personalized lending options to refinance or consolidate your debt to potentially save thousands dollars in interest.

Fiona will show you all the lenders willing to help you pay off your credit card and eliminate the headache of paying bills by allowing you to make one payment each month.

You can borrow up to $100,000 (no collateral needed) and compare interest rates, which start at 4.99%. The idea is to secure a loan at a lower interest rate, potentially helping you save thousands. Repayment plans range from 24 to 84 months.

Take, for example, Katherine, who faced $12,000 in credit-card debt. Holding her back? The 15.24% interest rate. By refinancing with a 5%-interest, seven-year personal loan, she saved $12,000 in interest.

If she’d kept on the same road, she would have paid something like $14,000 in interest alone over 25 years. Yikes.

So even if you’re simply curious about what’s out there, know that checking rates on Fiona won’t hurt your credit score — and can probably save you in interest.

Day 4: Find out If You’re a Power Couple

How do you compare to your peers? Are you the neighborhood’s power couple, or are you barely keeping up with the Joneses? It’s time to find out.

Status Money is an app that allows you to anonymously compare your financial situation with your peers without asking those awkward, prying questions. Link an account to tap into this database and you’ll be able to compare your income, debt, interest rates, credit score, spending… you name it.

By seeing how others are doing, you can see what you need to work on — or where you can sit back a little and just breathe easy.

Day 5: Check Your Credit Scores

Your credit score is important, now more than ever. The better your score, the better deal you’ll get on a mortgage, rental deposit, car loan or credit card. If either you or your spouse has a less-than-ideal credit score, it’s time to start working on it.

To keep a closer eye on your credit, get your credit score and a “credit report card” for free from Credit Sesame. It breaks down exactly what’s on your credit report in layman’s terms, how it affects your score and how to address it.

Signing up for Credit Sesame will only take you a couple of minutes each, and it’ll even help you tackle any issues you see.

Days 6 and 7: It’s the Weekend! Find Free Stuff in Your City

What? You thought we’d make you work every day? Good marriages need room for quality time to have fun together, too, right? Just don’t spend a lot of money doing it.

From museums to community movie nights, there’s most likely a rich menu of 100% free things to do wherever you are!

Check your local newspaper or city website, and see what you can get into — without paying a dime.

Day 8: Wash Your Car, and Clean up Your Car Insurance Bill

You each have a vehicle. One took you on your first date. The other was topped with streamers and balloons on your wedding day. Now it’s time to give them both a good wash — and then clean up your insurance bills.

Yes. There’s no getting around car insurance, unfortunately. But one way you could save money is by shopping around and comparing rates at least once a year. So, just like you compare the prices of flights, shoes and laptops before purchasing, why not compare car insurance?

The Zebra, an online car insurance search engine that offers “insurance in black and white,” compares your options from 204 providers in less than 60 seconds.

Day 9: Feel the Thrill With a Free Lottery

There’s something so satisfying about those gas station scratch-off tickets, but it’s better to avoid them because, well, that’s not Penny Hoarding.

Instead, try scratching for free using an app called Lucktastic. Each day, it releases a new assortment of digital scratch-off tickets. Lucktastic says instant wins range from $1 to $10,000. You can also earn tokens that you can exchange for free gift cards to retailers, including Amazon, Walmart, Kohl’s, Sephora and more.

You can even compete with your spouse. Who can win more tonight?

Day 10: Get Paid to Get Fit

Your honeymoon was full of buffets, decadent desserts and pina coladas. Totally worth it. Now it’s time to make up for those fun times.

There’s a cool company, HealthyWage, that will literally pay you for losing weight.

Here’s how it works:

  1. Read our full HealthyWage review, and sign up.
  2. Define a goal weight and the amount of time you’ll give yourself to achieve it.
  3. Place a bet on yourself ranging from $20 to $500 a month.

Depending on how much you have to lose, how long you give yourself to do it and how much money you put on the table, you could win up to $10,000!

Wondering if it can really work? We talked to one woman, Teresa Suarez, who lost 68 pounds — and made over $2,400.

The couple that gets fit together stays together, right?

Day 11: Make a Shopping List — and Get Paid

You probably shopped online before you were married. You won’t likely stop now, right? But now it’s even more important to save money where you can.

One of our favorite ways to save is with Ebates, a cash-back site that rewards you nearly every time you buy something online. For example, Ebates gives you 10% cash-back on online purchases at Walmart.

Plus, you’ll get a free $10 gift card to Walmart for giving the site a try.

Day 12: Stock the Fridge and Pantry With Savings

They say that 90% of marriage is asking “What should we have for dinner?” That number may actually be a bit low.

One of the best ways to avoid this trap is to get ahead of it. If you plan your meals for the week and shop accordingly, you’ll be all set. You know what makes your meals taste even better than butter or salt? Savings.

Believe it or not, Ibotta will pay you cash for taking pictures of your grocery store receipts.

Before heading to the store, search for items on your shopping list within the Ibotta app. When you get home, snap a photo of your receipt and scan the items’ barcodes, and earn cash back.

Ibotta is free to download. Plus, you’ll get a $10 sign-up bonus after uploading your first receipt.

Pre-planned dinner plus a pay day? That’s romance, right there!

Day 13: Put the Gold in Your ‘Golden Years’

When you said “I do,” you made a promise to make a future together. That future will look a lot better if you plan for your retirement right now.

If you’re like most people, you have no idea whether your 401(k) is on pace for retirement or just sputtering along.

Chances are, your 401(k) could be doing a lot better. Take control with help from Blooom, an SEC-registered investment advisory firm that can optimize and monitor your 401(k) for you and keep it speeding toward retirement.

It just takes a few minutes to get a free 401(k) analysis  that will show you whether your investments are allocated properly and whether you’re losing money paying hidden investment fees. It’ll even tell you just how much more money your account could earn by the time you want to retire.

After that, if you sign up, it’s just $10 per month to have Blooom monitor and maximize your 401(k). Bonus: Penny Hoarders get the first month free with the code PNNYHRD.

Think of Blooom like a mechanic constantly fine-tuning your car’s engine so it gives you the best possible performance and gas mileage. Except it’s your 401(k) — and your future.

Days 14 and 15: It’s The Weekend! Relax, and Grab a Glass of Wine

You’ve made great strides! Hey, marriage isn’t all work. Give yourself a break today. You’ve earned it.

Tonight, kick back, relax and enjoy each other’s company with a glass of wine. Of course, you don’t want to go overboard and spend a bundle on that bottle. Find a great bottle of wine for under $20, and toast to your financial progress.  

Day 16: Clear Your Clutter

Wow. Now that there are two of you, all of your stuff really adds up, doesn’t it? It’s not just the things you have two of, like ironing boards and disco balls; it’s clothes, shoes and furniture.

Set up shop, and make some extra money from the stuff you don’t need (and probably don’t have room for anymore).

You can sell virtually anything on Letgo. This intuitive app lets you snap a photo and upload your item in less than 30 seconds. It removes a lot of the hassle of selling things online, and it’s 100% free to use.

Marriage tip: Only sell your stuff. Posting your spouse’s items is a one-way ticket to the dog house.

Day 17: Relax, and Watch a Good Show

OK, you’re ready for a little snuggle time. That’s fair.

Tonight, pop some popcorn, pour a cool beverage and plop down on that loveseat. But instead of watching a movie, earn some money by watching movie previews or other short videos.

InboxDollars lets you actually get paid to watch TV online. The site hosts a ton of stuff to watch, including cooking, entertainment, news and health shows. The shows are sponsored by brands that need to get them in front of as many eyeballs as possible.

Every time you watch one, InboxDollars will credit your account with a little bit of cash.

Day 18: Get Money for Past Purchases

What couple couldn’t use a little extra money? Here’s an easy way to see whether you could get money back on purchases you’ve already made.

One of our secret weapons is called Paribus — a tool that gets you money back for your online purchases. It’s free to sign up, and once you do, it will scan your email for any receipts. If it discovers you’ve purchased something from one of its monitored retailers, it will track the item’s price and help you get a refund when there’s a price drop.

Plus, if your guaranteed shipment shows up late, Paribus will help you get compensated.

Paribus compensates us when you sign up using the links we provide.

Day 19: Play the Slots — and Earn More Interest Than at Your Bank

It’s Day 30!! Go ahead; relax, and play some games. But you’re not done helping your finances just yet.

The folks who created Long Game have you covered with a game that’s fun and helps you achieve your financial goals.  

As you save and accomplish missions, you’ll earn coins to play mini games for cash prizes. We’re talking the classics, like slot machines, scratch-offs and spin-to-win wheels.

Once you link your bank account, you’ll earn 300 coins, so you can start playing while you wait for payday. 

Day 20: Protect Your Nest Without Robbing Your Nest Egg

If you own a car, you know that you need to protect it (and yourself) with insurance. But did you really check out your options? You could be paying too much for your coverage. Shopping around for insurance can be time consuming, though.

Fortunately, a service called Gabi will do it for you, and you don’t even have to fill out any forms. Simply link your insurance account and provide your driver’s license number, and Gabi will go to work.

Once you link your insurance account to Gabi, it will:

  • Scan your existing insurance plan.
  • Analyze what coverage you have.
  • Compare the major insurers’ rates for that same coverage.
  • Help you switch on the spot if it finds you a better rate.

Gabi says it finds an average savings of $720 per year for its customers.

It is a true apples-to-apples comparison at the same coverage levels and deductibles you currently have. Once you sign up, you never have to shop again. Gabi’s software has your policy on file and keeps on monitoring for savings as your life changes.

Day 21 and 22: It’s the Weekend! Enjoy Free Stuff at Your Gym or Apartment Complex

If you have a gym membership or a fitness lounge at your apartment complex, you might be missing out on lots of luxurious freebies.

Think tanning beds, massage chairs or complimentary personal training sessions.

Get down there, and treat yourself!

Day 23: Take the First Baby Steps to Investing

Marriage makes you think about the future. A lot. A big part of preparing for your financial future is investing. Now that you’ve invested in that ring, it’s time to go further.

Consider starting an investment account through Acorns.

You can start small and stack up change over time with its “round-up” feature. That means if you spend $10.23 at the grocery store, 77 cents gets dropped into your Acorns account.

Then, the app does the whole investing thing for you.

The idea is you won’t miss the digital pocket change, and the automatic savings stack up faster than you’d think. For example, we reviewed how Penny Hoarder Dana Sitar was able to save at a rate of $420 a year!

At that rate, you could set aside $1,000 in about two and a half years — without trying.

The app is $1 a month for balances under $1 million, and you’ll get a $5 bonus when you sign up.

Day 24: Optimize Your Credit Card Rewards

So you want a credit card, but there are too many to choose from. What to do?

Should you leaf through your junk mail and just accept one of those credit card offers that show up in your mailbox? That would be quick and easy, right?

No, no, a thousand times no! Don’t do that. That’s a good way to end up unhappily shackled to a credit card that’s all wrong for you.

At least one in five cardholders are carrying around a credit card whose fees and rewards don’t match their actual spending habits, according to a 2016 study from J.D. Power.

To help you avoid becoming a statistic, here’s our guide to everything you need to know about credit cards — including how to pick the one that’s right for you.

Day 25: Focus on Some Extra Cash

You and your spouse take the most awesome pics, right? If you have a smartphone and a photographic eye, making money might have just gotten a lot easier.

An app called Foap lets you turn your smartphone photos into cash.

Here’s how it works:

  1. Download the free app and create an account.
  2. Take a quality photo and upload it to Foap’s marketplace.
  3. Someone buys the license to your photo for $10. You make $5.

If your photo sells 20 times, you make $5 each time and end up with $100 in your pocket — all for about five minutes of work and probably a nice stroll in the park with your spouse. Pretty cool, right?

Day 26: Put Your Bills on a Diet

Good news: As a married couple, you’ll share bills. Bad news: They’re still bills.

The price of internet — and cable, if you’re still into that kind of thing — certainly isn’t decreasing. If anything, prices are steadily climbing.

And if you’ve had to chat with a representative from your internet/cable company recently, you know how long you can sit on hold.

That’s why it’s time to call in a robot. The negotiation bot Trim will negotiate your cable or internet bills down for you.

It works with Comcast, Time Warner, Charter and other major providers.

You can sign up simply with Facebook or your email address. Then, upload a PDF of your most recent bill, and Trim’s AI-powered system gets to work. If at first it doesn’t succeed, it’ll keep negotiating until it can save you some money.

Also, if you have any outages, Trim believes you deserve a credit, and it’ll handle that for you. Trim takes 25% of the savings tab, and you get the rest.

27: Go Window Shopping, and Earn Gift Cards

No extreme physical activity or pulled muscles required for this money-making trick that’s fun for couples. All you need to do is download the Shopkick app.

Once you sign up, the app pays you in “kicks” for walking into certain stores (including Walmart, Target, TJMaxx and more). You can redeem them for gift cards to a number of retailers, including Amazon, Target, Walmart, Starbucks, Sephora and Best Buy.

It pays you even more kicks for photos of receipts that include qualifying items you purchased in-store with a connected credit or debit card. You can also earn kicks for online purchases. You don’t have to do anything; your linked cards will automatically apply your kicks.

But don’t make the mistake of buying things you don’t need just for kicks, you know better than that.

Once you’ve earned your gift cards, you can enjoy them with a little quality time together.

Day 28 and 29: It’s the Weekend! Go to a Park

When’s the last time you went to the public park in your area?

You might be able to walk nature trails, goof around on a swing set, or just sit and watch the leaves fall. Take the time to simply be together and enjoy nature. It’s relaxing and relationship-building.

Day 30: Plan for a Bad Day. Seriously.

Few things stress marital bonds like sudden financial drama. A car breaks down. Someone breaks a toe, and medical bills pile up. The roof starts to leak.

The simplest way to avoid letting life’s little mishaps turn into financial disasters is to start an emergency fund. It’s simply a bank account with enough money to get you through a minor emergency or surprise bill.

But if you’re going to save, you might as well make some interest on that money, right?

An iOS app called Varo Money combines traditional banking tools with modern technology to help its customers become financially healthy.

Here’s the best part: Pair your Bank Account with a Varo Savings Account where you’ll earn 1.75% annual percentage yield. That’s nearly 30 times — repeat, 30 times — the average savings account, based on a 0.06% average reported by CNN Money.

You Did It!

See, that wasn’t so bad, was it? When you start thinking long-term, you need to think about your finances. When you bring someone else into the picture, it becomes even more important.

Tackling a few of these items can help set you up for a much better financial future. That’s worth a month’s work, right?

Now… let’s talk about having kids.

Tyler Omoth is a senior writer at The Penny Hoarder who loves soaking up the sun and finding creative ways to help others. Catch him on Twitter at @Tyomoth.

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