Expert Q&A

After the honeymoon is over and wedding cake is all gone it’s time to start your financial journey. Hopefully, you already have an understanding of what you’re getting yourself into…..debt, that is. Credit cards, student loans, car loans etc. If you don’t know, it’s not too late. Just ask. Your debt is her debt and vice versa. You should make a list of all the debt you have; listing in descending order the highest interest rate balances. Make high interest credit cards your priority. Then work down the list one at a time. I prefer putting an emphasis on paying down one at a time (still making the minimum payments on the others to avoid being delinquent) because it gives you a sense of accomplishment when you are able to start paying them off and being able to mark them off the list and see some progress. Think of it like a “To-Do List”. Doesn’t it always feel good to cross something off and be done with it? Dave Ramsey calls this the debt snowball. Pay one off and keep it going.

Now that you have a sense of the debt situation, follow these steps:

http://www.goodfinancialcents.com/just-married-financial-planning-for-newlyweds/