Wednesday, 11 Jul 2007

Nests and Nets - Part 1 of 2

Newly Wed CoupleThat is - Nest Eggs and Safety Nets. Here are some grounded and real life things to think about as you move into your life together.

Some couples are just not prepared for all the reality of meshing finances. Many couples will pool their resources into one larger “treasury” to address all their household and lifestyle needs. Others will maintain separate accounts and split the costs on those needs. Deciding whichever road or whatever variation of that suite you both can be a delicate balancing act.

You can never be too early to build a nest egg or start making financial decisions for the things you both want out of your future. Do you need or want a financial advisor? How do you find a good one if you do? Take some time to search out reliable sources of information. Ask friends and family for referrals and advice. Check out places like The Motley Fool or this article at the Yahoo! Biz section.

Also, think about a safety net for the money you have already started spending together in regards to the wedding itself. Wedding insurance is attracting more attention these days. Considering a 2005 survey found the average wedding cost was $30,000 (see CNN wedding report ), losing a portion of that investment could be quite a blow.

In part 2 of this post, we’ll give you some great tips to get you ready for life’s little surprises.


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