For the LOVE of Money

by itsJer

Spring is here, which means wedding season is upon us. If you haven’t heard by now, “relationships are hard work.” Especially when talking about money. We have compiled money advice for new couples to help unveil smart financial decisions.

I “Like” You Phase

Congratulations! You have graduated from ‘forever alone’ to ‘relationship goals.’ In all seriousness, new relationships can take a toll on your wallet, especially if you’re the one trying to do all the impressing. Dates don’t have to leave your wallet empty. When your budget is getting low, get creative.

Our advice: Plan a creative date.

·         Museums. Check out their website before you go, you can always find days to go at a discounted price or for free.

·         Picnics. Yes, they are still a thing. Enjoy the beautiful weather and surprise your date with a carefully crafted course.

·         City parks. City parks are usually always free and well maintained. Parks are also pet friendly, show your special someone you’re an animal lover.

·         Cook a nice meal. This definitely saves a few extra dollars and earns you a few bonus points as well.

From “Like” to “Love”

In this stage of your relationship you are either thinking about marriage, engaged or newly married. You are getting invited to more weddings and baby showers than house parties and summer trips. Fear not, by now you should be an expert in balancing your finances and knowing how much of your partner’s money you can spend – wink, wink.

Our advice: Planning is everything! Get ready for all the money changes that are about to happen.

•  The big day. Weddings are a big deal with an even bigger price tag. Borrowing from a Home Equity Loan is a smart way to finance a wedding - hint for parents. Choose from a variety of terms and low interest rates that are often tax deductible (consult your tax advisor).
• Moving in together. Finding a home is just as exciting as it is stressful. Consider financing your home with a financial institution that has a variety of term options and low rates.
• Oh baby. Houses and weddings are expensive, but they won’t be taking money away from you the rest of your life. Start your children off on the right financial foot. Open a savings account as soon as possible. Establishing an account early on will grow their savings and will include long-term benefits like earning member loyalty offers at an early age.

Whether you’re dating or purchasing your first home, we would like to congratulate you and wish you well. Remember, money can cause a strain on partners; but use these tips to minimize the stress so you can enjoy a loving and lasting relationship!