Thursday, June 16, 2016

14 Financial Tips for Engaged Couples




Can White Men Fix Black Women’s Relationships? 
Marriage is a wonderful union between couples who love each other and want to spend their lives together. However, marriage takes good communication skills, hard work and compromise.  Marriage has many benefits such as getting reduced rates on insurance, avoid paying estate tax, gifts between spouses are not subject to gift tax, and assets are owned jointly and other tax benefits.  

The New York Times reported that two out of three second marriages fail.  One of the major factors in couples getting divorced is due to finances.  Here is some helpful guidance on what engaged couples should discuss prior to getting married and keys to relationship and financial success. 

Should Discuss
  1. Views. Discuss your views on wedding ceremony, career goals, educational goals, pets, marriage, family, health habits, children and other important topics.
  2. Experiences. Discuss past life experiences that have affected you negatively to help your partner gain perspective on your thoughts and behavior patterns.
  3. Bills. Determine how expenses and bills will be handled. Be honest about your financial situation. Examine each other’s spending habits and work towards a compromise.
  4. Accounts. Determine if you will have a joint account or separate accounts. You can have one joint account to pay all joint bills and then have separate accounts to spend left over money however you like with the understanding that both of you are aware of the other's separate accounts.
  5. Obligations. Discuss any obligations to family or others such as financial, chores, etc.
  6. Assets. Determine if you want to use a prenup to separate assets you acquired prior to meeting your mate.
  7. Future. Discuss future goals such as insurance needs, children, retirement and estate planning.

Relationship Success

  1.  Verify. Verify bills were paid. Setup protections such as overdraft protection, renter’s insurance, and homeowner’s warranty. Keep insurance policies and warranties up-to-date
  2. Communication. Avoid making assumptions. Keep open and honest communication throughout your relationship.
  3. Compromise. Be willing to compromise. Marriage is not one-sided.
  4. Buy insurance. Buy adequate health, life and disability insurance. Many Americans go into debt due to medical bills and lack of insurance.
  5. Emergencies. Create an emergency fund to cover bills for 9-12 months to pay for unexpected expenses or if you experience a financial crisis.
  6. Arguments. Do not go to bed angry. Resolve differences prior to going to sleep. 
  7. Laws. Know laws in your state regarding married couples, common law marriage and taxes.


Sunday, June 12, 2016

20 Fabulous Ways to Save Money on Your Wedding



 Norwegian Dating Guide » Wedding traditions in Norway

Weddings in America are a transition stage of living with your parents to moving in with your spouse to start a new life.  A wedding is an official form of recognizing a union between a man and a woman. Weddings are a happy occasion to celebrate with family and friends. 

The average cost of a wedding in the United States costs over $20,000. If you are planning your big day, do not let that number scare you! There are several creative methods to implement your wedding ideas without sacrificing what matters most to you.

Going into debt as soon as you get married is the wrong way to start a marriage. Many couples go into debt paying for a wedding and instead could have used the money as a down payment on a home.  You can have a fabulous wedding without breaking the bank. A wedding should be memorable but memories do not have to be expensive.  Start your wedding planning by making the most cost-effective decisions. Here are 20 fabulous to save money on your wedding.



1.      Negotiate - Get offers from at least three companies and compare prices, reputation and services provided.
2.      Budget - Keep budget at $10,000 or less.
3.      Pay in full - Ask for a discount if you pay in full.
4.      Off-Season - Get married in November or January, to reduce costs and save money if you go on a honeymoon. Schedule the wedding during off-peak times such as October, November or January through March. April through October are peak seasons for weddings so choose a time outside of those months. Avoid getting married near a holiday when prices are higher.
5.      Invitations - Use office supply stores such as FedexKinkos or Staples to make invitations. Keep designs simple to reduce costs. Use one envelope instead of two when mailing invitations; this also eliminates using of a postage paid return envelope. Use online event websites such as Evite to send invitations. Use postcards for RSVPs instead of a folded card and matching envelope.  If your wedding is the same place as the reception don’t use a reception card.
6.      Time - Get married during the week instead of on the weekend or on a Friday or Sunday night.  Saturdays are the most expensive. You can also have a morning wedding. If you have a night wedding, have hors d'oeuvres instead of a full meal. Have your wedding at lunchtime or use a food truck to save on food costs.
7.      Vendor - Use newer or recently opened businesses for services. Stick to your budget, be firm with prices with vendors. Connect with vendors on social media or via email to get notifications about deals and specials. Also, call vendors to ask about discounts or specials that may not be advertised, to negotiate a lower price for goods or services or donate services. Ask friends to donate services such as photography or event planning instead of buying a gift. Be firm with prices with vendors and ask for a discount if you pay in full.
8.      Venue - Your wedding venue should be the location for your wedding and reception. Use a hall for the reception and try to find own that lets you use your own caterer. Use a hall that is not normally use for weddings. You can also have a wedding at an art gallery, hotel, in a park, backyard, church, beach, community clubhouse or recreation center. Get at least 3 quotes.
9.      Wedding planner - Be the planner. Plan your wedding instead of using a wedding planner. Get family and friends to help with the planning.
10.   Wedding Dress - Buy latest year’s style, a non-designer dress, off-the-rack dress or a non-white dress, at consignment shops, designer or sample sales, eBay,  have your dress made, rent a dress, or a consider a used gown.
11.   Bridesmaids Dresses - Let the bridesmaids pick their own dresses and colors or buy regular cocktail or evening dresses.
12.   Music - Use a band instead of a DJ unless you can find a great up-and-coming DJ. Be your own DJ and use your iPod, iPad or MP3 player for music instead of hiring a DJ.
13.   Bouquets – Use a long-stemmed bouquet, elbow bouquets or create your own. Choose seasonal or local flowers and keep arrangements simple or choose flowers that have larger buds to save money.
14.   Food - Eat standing up instead of a sit-down dinner or have a buffet where guests can get the food themselves. Have potluck wedding if you are having a small number of guests. Guests can bring their favorite dish.  Purchase food in season. Use a caterer that does not specialize in catering weddings. Select inexpensive items such as chicken, pasta or macaroni and cheese and provide no more than two meal options. Server hors d'oeuvres instead of a full meal. Have your wedding at lunchtime or use a food truck to save on food costs.
15.   Alcohol - Offer a cash bar or bring your own alcohol and pay a corkage charge to have the alcohol served. Skip buying champagne for the toast.  Guests can toast with whatever they are drinking.
16.   Desert - Buy individual cupcakes instead of a wedding cake or buy a smaller cake to prevent leftovers.
17.   Makeup - Wash your face thoroughly that morning and get a facial at least 3 days prior to getting your makeup done for your wedding. Ask the makeup artist to leave a touchup case behind for you to save money. Consider going to a department makeup counter to get a makeup to save money.
18.   Optics - Get referrals from friends, family, or look for inexpensive packages. Spend money on the most important pictures and consider hiring an intern and student for additional pictures. Get pictures taken or video but do not spend money on both.
19.   Limousine - Save money by renting a town car or old-fashioned car for your bridal parties.
20.   Shorten the Reception – instead of having a 4-hour reception have a 2-hour reception.