Money Matters

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There's a lot for newlyweds to look forward to when they tie the knot, but couples should be budgeting for more than just the reception if they want to start their new life off on the financial right foot.

Financial experts urge newlyweds to remember the importance of "financial compatibility."

Couples that find common ground on issues about shared money help lead to a lasting relationship. So, how do you make sure you and your potential spouse are on the same page?

Before exchanging wedding vows, have an honest and candid chat about money. Now is the time to fess up to debts that are due to college loans or credit cards.

Set short and long term goals for family finances now. It is never too early to start thinking about buying a home or raising a family. Those life changing events will arrive sooner than you think.

Understand the pluses and minuses of jointly held accounts. Irresponsible use of a joint credit card by one person will show up on the other person's credit history.

It's much harder to keep track of a checking account or balance a checkbook if purchases are made without their spouse's knowledge.

For more tips on newlyweds and their money, you can check it out online at www.fdic.com.


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