Check out my interview in the October issue of Essence Magazine

Check out my recent interview in the October issue of Essence Magazine.

I discuss tips on how couples can survive a financial crisis.

Finance and Money Tips for Couples

Unmarried Couples
1. You can help out your partner but don’t take on their financial burdens
2. Don’t cosign a loan for your partner even if you are engaged
3. Determine how expenses and bills will be handled
4. Don’t get joint accounts

Engaged Couples
1. Examine each other’s spending habits and work towards a compromise
2. Don’t assume your future spouse wants to pay your debt
3. Be honest about your financial situation
4. Don’t keep secrets regarding your finances or purchases made – develop a plan to resolve the issue

Buying a Home
1. Get preapproved for a home
2. Shop around for the best rates
3. Determine the type of loan, ARM, 15 year, 20 year, 30 year

Married Couples or Newlyweds
1. Pay Off Debt
2. Participate in your company’s retirement plan or open an IRA
3. Create a budget
4. Get health, life and disability insurance
5. Get overdraft protection

Laws That Benefit Married Couples
1. Social Security
2. Veteran’s Benefits
3. Tax Laws (IRS) – married couples filing jointly can exclude up to $500,000 on the sale of their home on their taxes
4. Estate and Gift Tax

Books for Couples
1. Smart Couples Finish Rich – David Bach
2. Your Man and Your Money – Michelle Singletary
3. The Motley Fools’ Guide to Couples and Cash – Dayana Yochiim
4. The Big Payoff – Sharon Epperson
5. First Comes Love, Then Comes Money – Robert Gibson