Comments on: What money tips do you have for newlyweds?

By: Veronica

Veronica — Fri, 16 Oct 2009 00:42:09 +0000

*Spend less than you make
*Begin saving for retirement as early as possible
*Be VERY careful with credit cards
*Learn the beauty of simplicity
*Make a rule that any purchase over “X” amount (ours is $100) must be discussed w/spouse before purchasing
*Find charities you both support and give to them regularly
*DO NOT worry about how friends/neighbors live…most of the time it’s all for show and they have nothing saved
We began our marriage in debt. We decided early on to change that and we did. Since we’ve adopted the above “rules” life has become much simpler and happier!

By: Joseph Mwangi

Joseph Mwangi — Mon, 12 Oct 2009 16:04:29 +0000

I have been married for a year now and we knew were in debt before we got married, but we decided to seek financial advice well in advance.
We commited ourselves to getting out of debt from day one and we are still working on it. 1st year in marriage and have paid over $40,000 in credit cards debt, school and student loans; and we are still working on it.
Lessons learned:
-Make a ‘living’ budget(something that represent your financial position)
-Talk about money at least twice a week. (while looking at our budget)
-Live within your budget.. do not compare yourselves with other couples your age or friends. (they are in a different financial position)
-As nancy has noted, pray about your financial position and ask God for wisdom on everyday choices.
-DO NOT get extra debt.
-Don’t let debt keep you from God’s blessings.. Pay your tithe, visit the sick, donate to the needy….
Joseph

By: Nancy

Nancy — Sun, 11 Oct 2009 20:31:06 +0000

I have been married for 22 years and my advise is DO NOT GET INTO DEBT! Use credit sparingly (if at all), instead pay with cash as much as possible. And….. PRAY over all decisions. God will guide you to His best for you, if you put Him first in your life and in your marriage.
May God bless you and your future husband as you both embark in the best journey of your lives!

By: Matthew Parrott

Matthew Parrott — Sun, 11 Oct 2009 08:29:38 +0000

FPU says it all, but if they don’t know what that is, then tell them to stay debt free at all costs!!! (FPU stands for Financial Peace University (: )

By: Gholmes

Gholmes — Sat, 10 Oct 2009 15:10:46 +0000

I agree with George. We went thru Financial Peace in our first year of marriage and got us on same page. Not only we talked about our goals we wrote them down.

By: George

George — Sat, 10 Oct 2009 13:43:14 +0000

Dave Ramsey’s “Financial Peace University” covers it all.
It’s a great wedding gift.

By: mbhunter

mbhunter — Sat, 10 Oct 2009 04:40:08 +0000

Don’t feel the need to color-coordinate everything in the house the first month.

Tastes change, and the wedding gift money (if any) will be gone before you know it.

By: Lauren

Lauren — Fri, 09 Oct 2009 22:39:21 +0000

We’re so excited to hear advice from people who have been through it! Thanks!!

By: Mr. Not the Jet Set

Mr. Not the Jet Set — Fri, 09 Oct 2009 18:58:30 +0000

Get on the same page. Statistics show that if you and your spouse are on the same page in 4 categories, your marriage has a much higher chance of survival.
>Money
>Kids
>Religion
>Family

If you haven’t already, then start talking about these things. Your attitude towards them (your family drives me nuts), your expectations (I’m not changing diapers), and your plans for the future (I don’t want to work once we have kids). Communicate, communicate, communicate.

By: Matt Bell

Matt Bell — Fri, 09 Oct 2009 15:28:49 +0000

What has worked well for us is combining accounts but each having a monthly amount we can spend on clothing. By combining accounts we work as a team, but having separate clothing budgets gives us some freedom as well. When we were first married we’d call each other from a store to ask whether we could buy this or that. It didn’t work very well. So, we have monthly amounts we’re free to spend as long as we stick to the budgeted amount. I know couples who do with for other things like lunches with friends, but it’s worked for us just to have separate clothing budgets.