Congratulations, you are newly weds! Along with sharing a life and a home, you will be sharing your hopes, dreams, and finances. But where do you begin? We can help you get started:
The Big Picture
Starting life as a married couple is a wonderful time. You both are so in love and have so many hopes and dreams of a life together. Take some time to set lifetime goals for yourselves. What would like to accomplish together in the five, ten, twenty, forty years?
- Setting Goals: make a joint list of goals, figure out why it’s important to you both, and identify the first steps in achieving your goals to so you can closer to achieving your goals today.
This is a great time to re-evaluate your financial options as a couple, as you consolidate your financial accounts and open joint accounts.
- Budgeting 101 for Newly Married Couples: devise a jointplan for your financial well-being. We’ll give you some tips on how to live within that budget, and a sample monthly budget spreadsheet that you can download and tailor for yourself.
- Opening a Joint Checking Account: No need for a local bank anymore. That’s a relic of the past. We recommend a bank that pays 0.15% APR/interest on checking account balances, and offers free access to your cash at any ATM world wide. It’s the same bank that we recommend to college students.
- Best Online Savings Account: As you pool together your savings, we recommend an online savings account that pays 1.25% APR/interest.
- Filing joint income tax returns: more on this as we get closer to tax season.
How to get the most of limited college budget:
- Buying Open-Box Merchandise at Best Buy: to get the best value for your computer and electronics needs.
When you get closer to starting a family, take a look at our articles geared towards starting a family.
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