Financial Series: 10 Financial Articles For Couples
Couples often have difficulty with getting their financial house in order. Here are ten articles that could help them.
- 10 Financial Planning Tips for Couples
- Bank Accounts for Couples: Do it right
- Couples Organize Their Finances
- Save For Your Wedding Day the Right Way
- Tips For Couples Buying Their First Home
- What You Must Know Before Renting A House
- 7 Ways To Assess Your Financial Health
- Benefits Of Having A Budget
- How To Prepare For Emergencies
- Coping With Financial Stress While Improving Your Finances.
Example of Article
Making a marriage work is tough enough without financial problems making things more difficult. Yet, one the most common causes of friction in marriages is money.
Below you’ll find a list of tips to help you plan your finances before and after marriage. They’re in no particular order, but all are just as important. Let’s begin!
Pay off your debts
Both you and your spouse would do well to pay off all revolving credit such as credit cards, personal loans and so on. Bringing debt into a marriage can make it financially stressful.
Discuss money matters prior to marriage
Before even getting married, it’s an excellent idea for both parties to discuss their money history and be honest about it. Different people have different money scripts, and while some believe in saving, others may prefer to spend and enjoy life.
What matters is that you reach a consensus on the money issues before marriage. If you’re already married, it’ll still help to talk about money.
Have health insurance
There’s no need to even think twice about this. With exorbitant health costs, both partners must have solid health insurance that has good coverage.
Save up an emergency fund
You’ll want to save up 3-6 months’ worth of income to tide you through any rainy days in future. Some people choose to save 3-6 months’ worth of expenses, but it’s better to save in terms of income (before taxes) so that you have more money on hand. After all, the cost of living keeps going up.
Discuss financial goals
You’ll want to be on the same page when it comes to buying a house, getting a car, sending your children to college and so on. Usually, the big expenses must be planned for beforehand.
Keep accounts separate
After both partners have contributed their share into a joint account for the bills, household expenses and so on (and also saved a bit for retirement), they should have separate bank accounts for their own discretionary spending.
This will give them a sense of independence and they can buy what they want without worrying about being judged or blamed.........