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Settling newlyweds into happily ever after - altoona mirrorPles achieve financial wedded bliss: 1. Come clean before tying the knot. – Avoid a fight about money after the honeymoon by talking about your individual financial situations before the wedding bells ring. 2. Spend time talking about money memories. – Most of us underestimate the impact our upbringing and traditional roles have on our current financial decisions. Sharing the past can relieve tension in the future. 3. Know when to pursue a money conversation and when to stop. – People who are tired, hungry, cranky or involved in cooking dinner aren’t in a good frame of mind for holding meaningful money conversations. Talk about money issues at a time when you’re both rested and mentally available. 4. Figure out what counts. – Prior to formulating a financial plan, talk about your priorities and what really matters to each of you when it comes to money. 5. Find your missing dollars. – Before you can spend your money in a way that gives you the greatest pleasure and helps you meet your goals, you have to understand your spending habits. Consider keeping a spending journal to find out where your money really goes. 6. Eliminate credit card debt. – The average American has more than $8,000 of credit card debt. Newlyweds can’t afford to fall deeper into debt than they already are. Make paying off credit card debt a top priority. 7. Create an emergency fund. – What if a financial emergency strikes? Three steps to get you started on an emergency fund are: * Determine how much you need. * Figure out how to consistently save. * Find a safe place to put your savings. 8. Find a system |
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