Tips for Newlyweds
By Mary Grace Musuneggi
www.mfgplanners.com
In today’s world, newlyweds face a variety of challenges; many of which stem directly from the financial decisions all couples must take. Here are some tips to help on your road to financial success:
• Identify your values
• Create a budget
• Reduce or eliminate your consumer debt
• Start or increase an emergency fund
• Live below your means
• Have regular “financial” family meetings
• Plan and set your goals together as a team
• Educate yourselves about financial issues
• If you have dependents, get disability/life insurance, a will and an estate plan
• Save for your retirement
• Arrange your affairs in a tax efficient manner
• Visit a financial planner
Preparing your initial financial plan is a two person job. As your financial situation evolves, you’ll have the most success if you continue to communicate and work together on your finances.
Mary Grace Musuneggi
Founder and Executive Director
November 2012
