As you settle into married life, don’t let your newlywed bliss prevent you from making smart decisions about your finances.
Talking about how you will manage your money as a married couple is a huge gift you can give each other. Why? Because one of the leading causes of divorce is money trouble. Money trouble doesn’t necessarily equate to being in trouble financially – very often money trouble is a result of miscommunication and arguments about spending and saving.
Take some time to sit down and talk about your finances, from how you plan to manage your finances to the tools you will use to do that. We created a list of our most popular money management articles for newlyweds to get the conversations started.
Techniques to help couples talk about finances
It’s not uncommon for people to talk about just about anything – even religion and politics – before talking about their finances. For many couples, financial issues can get so emotional and destructive that it can lead to a breakup. Many have reported that money is now the leading cause for divorce in this country. Learn more about what techniques you should be implementing to ensure this doesn’t happen in your relationship.
Just married? Don’t make these money mistakes!
Take some time to sit down and talk about your finances and how you envision you will manage them as a couple. Everyone brings ideas from their own pre-married life to the table that may have worked for them, but may not be effective as a married couple. By talking about your previous practices and your goals as a couple, you’ll be on a successful path towards managing your money in harmony. Learn more…
Creating a budget and sticking to it
A budget is a great way to see where your money is going and where you can save. It will help you become aware of areas where you can cut back to give you more breathing room, or to help you stop living paycheck to paycheck. Keep reading…
Paying student loans vs. saving for retirement
As a newlywed it’s likely that you’re still paying off your student loan. And with two (or more) loans now part of the household it’s a good idea to make a plan for how to whittle down your debt as a team. In this article we look at choice many couples face – paying students loans vs. saving for retirement. Keep reading
Are you financially prepared for the unexpected?
Emergencies can happen at any time – there’s simply no way around it. You lose your job. Your spouse falls ill. Or a loved one passes away. It’s critical to make it a priority to prepare for the unexpected. After all, it could be the difference between a sound financial future and tremendous financial strain. Keep reading…
At MidWestOne, our top priority is to take care of you. If you have questions or need some assistance, our team of bankers is ready to help you and your spouse make wise financial decisions. Give us a call!