Life Change: Marriage & Family Events

Saving for and eventually buying things like homes or automobiles should be a decision you make together. When you jointly apply for credit in any capacity, you are only as good as your weakest credit score. And just because your credit score grants you the necessary credit doesn’t mean that it’s the right thing to do. Stepping back to take a look at the bigger picture always adds some perspective.

From the deductible due when you leave the hospital upon delivery to the cost of the wedding, children are expensive. That is why it is critical to analyze and reduce your risks. It also helps to review college savings plans and summarize tax benefits as they change. The earlier you start planning, the more durable your plan will remain.

Dovetailing from the topic of consolidating finances, couples need to decide how they are going to save for retirement. Some people are aware of modern divorce rates and want to keep their retirement savings separate. Other couples feel no such concern, so they want to do everything together. Either way, there is no wrong choice. A member of our team can ask the right questions so you can make the right choice for your household.

Unfortunately, many couples carry an unfathomable amount of student loan debt. Together, decide how much of your household finances will go toward this debt over a reasonable period of time.