Tuesday, December 22, 2009

Financial advice for young newlyweds?

We are getting hitched next year. I am worried about the finances. Any advice is greatly appreciated! I hvae very little knowledge of finances, since I have been blessed to have family financial support. Thanks!





I am 22 yr old and do plan on continuing my college with a part time job. My hubby to be works full time and health insurance is provided.Financial advice for young newlyweds?
Use your young years to learn about investing and what type will best fit your financial personality. Consult with a financial planner to learn about your options. Please read books on the topic and The Wall Street Journal.Then start experimenting with smaller amounts .


Make $3,000 contributions annually every year between age thirty-two and age sixty-five, and your IRA would grow to just $437,000.Financial advice for young newlyweds?
if you are already worried about finances and you aren't even married yet, then perhaps you should focus on school for now. if you are going to be together forever, what is another year? start off on the right foot, most marriages breakup over control of money
Always take the counsel of your spouse when making larger purchases. You should be in unity. Finances are the root of so many problems in marriage. The best policy is to be partners.





Each of you should have an account of your own, in addition to your joint accounts. Some 'mad' money to be able to buy gifts for one another, pay for manicures, bowling fees, etc. will give you some personal responsibility and freedom.





If you can't afford it, don't buy it.





If you don't understand it, don't buy it.





Consider your motives when it comes to spending or saving. Think about the risks/benefits of each.





Good luck!
Exactly what kind of financial advice are you looking for? as far as merging your finances?

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