Getting married is a huge change, and one big aspect of that change is your finances. You go from simply being in charge of your income, spending habits, and bills, to trying to mesh together these things for two people. Since you and your spouse are likely somewhat different when it comes to money, it is very important that the two of you are on the same page as much as possible. A great way to learn how to do your finances together is to visit with a financial guidance counselor.
Learn About Budgeting And Saving
While you may have known how to budget for your own personal income and needs, the two of you likely have a lot to learn about budgeting together. Your financial aid counselor will sit down with you and will help you to see where all of your money is going. This includes things like rent, gas, car payments, schooling costs, phone bills, student loans payments, etc. Seeing where all of this money is going will help you to know how much you need to make, and what you will have left over for spending and/or saving. Your counselor can also discuss with you the different saving and investing options that you have. This can really help you to put away a good nest egg for the future, and can help you pay off debts much faster.
Discuss The Options For Building Credit
If the two of you haven't really built too much credit on your own, then it is crucial that you start building it now. Having a loan that you pay on regularly, such as a car payment or student loan, is a great way to help you build credit. You will just need to make sure all of your payments are paid in full and are on time. However, if you don't have a loan and don't want one, your financial guidance counselor will explain to you that getting a credit card is a great way to gain credit as well. Simply use the card during the month like you would your debit card, and pay off the monthly expenses before the end of the month so that they don't gain any interest.
Receive Help With Your Taxes
When the time comes to file taxes jointly for the first time with your spouse, you most likely have a lot of questions about how to go about doing this, You will have even more questions and concern if one of you is self employed because much more documentation may be needed. Your financial guidance counselor, from a clinic like Financial Guidance Center, can help you by answering all of you questions, telling you what documents you will need, and basically helping you to prepare your taxes for filing so that things will go smoothly for you.