Moving in together

Shared finances and getting married

Moving together means a shared home and often also shared finances. It is possible to split many purchases between two people, which can provide flexibility for the household economy, as you do not have to pay everything by yourself.

 

Shared money

  • 1. Day-to-day finances

    1. Day-to-day finances

    There are many ways of managing the day-to-day finances — for example, all of the money can be shared, you can open a shared household or food account for day-to-day purchases, or all of the finances can remain separate. You know best how you want to arrange the finances in the household.

  • 2. Sorting out the practical issues

    2. Sorting out the practical issues

    When your address changes, remember to file a notice of changed address with the magistrate. As a bank, we will receive information about the changed address from the National Population Centre. Naturally, you can also inform us directly about the changed address through eBanking. This way you make sure that mail from the bank will reach you.

    File a notice of changed address

  • 3. Join the Danske Benefit Programme as a household

    3. Join the Danske Benefit Programme as a household

    It is possible to join the Danske Benefit Programme as a household: your sum total business with the bank will determine your benefit level. Together, you can achieve a higher benefit level, enjoying more extensive benefits. Make sure that both of you have correct information on file at the bank. The easiest way to check this is through eBanking. In case you need to update the information, you can send us an online message, for example.

    Learn more: Danske Benefit Programme

  • 4. Cohabitation may affect your social benefits

    4. Cohabitation may affect your social benefits

    To learn more about social benefits, visit the Kela website.

    Read more at kela.fi

  • 5. Prepare by saving

    5. Prepare by saving

    A shared economy also allows you to save more money. Saving is an excellent way of preparing for surprises, both welcome and unpleasant, which life may have for you. It is possible to save together or separately, but the most important thing is to start saving as soon as possible.

    Saving money on the account is a good option for accruing a buffer or reserve fund. Saving money in funds is a considerable option for longer-term saving or for accruing money for a larger purchase.

    Learn more: Benefit account 
    Read more: Saving in funds 

    If you are now dreaming of a shared home and have not previously owned one, it is worthwhile reading about the options provided by ASP saving.

    Read more: ASP account 
    Learn more: My first own home

  • 6. Getting insurance coverage in order

    6. Getting insurance coverage in order

    Even in a shared household, it is advisable to prepare for unpleasant surprises with insurance coverage.

    It is advisable to have a life or loan insurance policy to secure the economy of your partner or spouse, particularly if you have shared loans. With the insurance, the remaining partner or spouse may be able to live in the shared home and there is no need to take care of the loans in mourning.

    Read more about insurance coverage from Fennia: fennia.fi
    Learn more about Loan Insurance: Loan Insurance

  • 7. Prepare for possible changes in your life from the legal perspective

    7. Prepare for possible changes in your life from the legal perspective

    If you have a cohabiting partner, it is advisable to secure the partner’s position the way you want for the event that your situation in life changes in an unexpected way. The law does not give the cohabiting partner a claim to the property of the other partner the way married people have, the cohabiting partner’s home is not protected upon the death of the other partner, and the cohabiting partner is not a statutory heir.

    If necessary, the partner’s position can be improved with a will. It is also possible to prepare for other changes in life, such as deteriorated personal capacity or separation, in advance.

    It is recommendable that a lawyer specialising in family and inheritance law prepare the will and other legal documents. You can book an appointment with the bank’s lawyer by calling customer service at 0200 2590 Mon–Fri 9–16 (local/mobile network charge).

Getting married

Although getting married often has no effect on the day-to-day finances, it does change the legal relationship of the spouses.

  • 1. Sorting out the practical issues

    1. Sorting out the practical issues

    If you have changed your surname, it is recommendable to order a new debit/credit card with the right name. The magistrate will inform the bank of the changed name approximately 2–3 weeks after the wedding. After this, you can order a new card, for example through eBanking.

    If you do not want to wait that long, you can obtain the new card by providing the bank with an original extract from the national population register. After this, you can order a new card through eBanking.

    The Danske Benefit Programme allows you both to benefit when joining it as a household. Together, you can achieve a higher benefit level, enjoying more extensive benefits. It is worth checking that the information is up-to-date. The best way to check this is through eBanking. In case you need to update the information, you can send us an online message, for example.

  • 2. Debts and assets

    2. Debts and assets

    During the marriage your debts and assets are separate. As a general rule, the property is deemed to be the property of the spouse to whom it is registered. During the marriage, spouses can usually use their own property as they wish.

    There are, however, some restrictions that getting married creates. For example, it is not possible to sell or rent the dwelling used as the spouses’ shared home without the consent of the other spouse. Sometimes, a loan taken for the livelihood of the family can be considered shared debt even if it was taken out in the name of one spouse only. Both of the spouses are also obliged to participate in supporting the family and the other spouse according to their best ability.

  • 3. Marital right and marriage contract

    3. Marital right and marriage contract

    Marriage constitutes marital right to the property of the spouse. However, the marital right will not become effective until after the end of the marriage, either by divorce or the death of a spouse.

    In particular, when one of the spouses has considerably more liabilities or assets and you do not wish to split them in case of a divorce, it is advisable to consider concluding a marriage contract with which the marital right is excluded, either completely or partially. It is recommended to have a lawyer help prepare the marriage contract. The contract will enter into force when registered with the magistrate.

  • 4. When you are no longer here

    4. When you are no longer here

    A will is a way to describe your wishes for when you are no longer there. This means that the heirs you want to inherit you will do so. It is also possible to secure the position of the widow, if necessary.

    In particular, many reconstituted families often have children from both previous relationships and the current one. In such a situation, a will is a very good thing to have.

    It is recommendable that a lawyer specialising in family and inheritance law prepare the will. You can book an appointment with the bank’s lawyer by calling customer service at 0200 2590 Mon–Fri 9–16 (local/mobile network charge).