Yours, Mine and Ours: Tips for Combining Personal Finances
Combine Your Finances After Marriage – Ideally Marriage gives you a legal partnership, and the ideal time to combine your personal finances is after you get married. However, you can begin to work on combined finances before marriage. “I encourage them to begin making decisions…
Top 3 Mistakes to Avoid When Buying a New Home
Mistake #1: Buying Beyond Your Means One of the most exciting parts about shopping for a new home is that you can indulge your fantasies. It’s fun to dream about living in a home with all the latest and greatest features and innovations, and when…
Tips on Setting Personal Finance Goals for Married Couples
Play to Your Personalities Money can be a source of conflict for many couples. A key step in avoiding arguments is understanding your financial personalities. While it might be easier for two savers to get along financially than a saver and a spender, both personalities…
Tips for Establishing a Line of Credit
A personal line of credit is a revolving account. You can use and reuse it without filling out a new application. The lender establishes a credit limit, but only charges interest on your borrowed amount. A personal line of credit gives you quick access to emergency money and can provide you with overdraft protection for your checking account. Interest rates on credit lines are usually higher than the rates on home equity lines of credit, or HELOCs. Interest on personal credit lines is not tax-deductible, but the interest on your first $100,000 of home equity debt often is.
3 Steps to Creating a Wedding Budget
Estimate Savings From All Sources Though creating a wedding budget can seem like a daunting task, in reality a wedding budget is simply a math equation. To determine how much you can realistically afford, start by figuring out what you can comfortably save on a…
How to Set Goals to Overcome Household Budget Issues
Review Your Current Finances You can set better goals if you have a clear idea of your current personal finances. The University of Nebraska recommends that you sit down with your partner and go over everything: how much debt you carry, how much you save…
Household Budget Checklist: Determining Necessary Expenses
Discretionary Spending The items that you don’t really need fall into the category of discretionary spending. Sometimes, the line separating necessary and discretionary spending can become blurred. Is going to the movies a treat or absolutely required to maintain your mental health? You confront these…
Got Bad Credit? 3 Finance Tips on How to Get a Home Loan
Tip #1: Talk to an Expert “The first step in getting a mortgage, regardless of your credit score, is talking to an experienced and knowledgeable mortgage professional,” explains Minneapolis residential and commercial mortgage expert Josh Manier. “After pulling your credit report, that begins the process…
Easy Budget Tricks for Controlling Your Spending
Get Real With Your Spending To control your spending your first must know how much you actually spend and what you are spending your money on. “Most people have no idea what they are spending on things like fast food and coffee for the month,”…
Bringing Home Baby: The Budget Impact for First Time Parents
Health Care Having a great health insurance plan in place before you conceive can help alleviate some of the financial stress of a baby’s health care, but chances are you will still have some out-of-pocket health care expenses. New babies have a lot more regular…