In my previous Gold Nuggets post (10 Tips for Managing Money in your Future Marriage, Part I), I listed five money management tips I believe will deeply bless your marriage, as they have mine. Below are five more tips that I believe will bless the socks off of your marital finances. Please feel free to comment or ask questions about these! Do Not Impulse Buy– This is a tough one in some circumstances. Currently, I have car fever. I want to buy a new (to me) Ford Escape or Chevy Equinox so badly I can taste it. This is a big ticket item and based on what I previously said about … [Read more...]
Gold Nuggets: 10 Tips for Managing Money in your Future Marriage, Part I
You may or may not be a Dave Ramsey fan; however, we named our dog Ramsey (meant as an honor, not an insult - we love our dog!), so it's pretty clear that we appreciate his lessons on finances. In truth, they have given us great financial direction! Throughout his years of experience helping people with their money, and as well as his and his team’s research, he has discovered money problems to be the number one reason people get divorced. Divorce, at its core, is usually the result of selfishness on the part of one or both marriage partners. How you handle money does shine a light on your … [Read more...]
9 Simple Things You Can do to Save Money
As you prepare for marriage, it will be important to learn how to stretch a dollar (or, whatever the currency is in your country!). You may already be accustomed to making money stretch, but if you are not pinching pennies now, there will likely be some point in your life and future marriage when money will be tight. Whether you are barely scraping by, making a decent living, or enjoying the abundance of your parents' wealth while you finish college, learning to make money stretch is a good skill to develop. Am I asking you to give up your morning coffee or to cancel your cable? Not … [Read more...]
Who is Paying the Bills?
A statistic often touted is that money issues and money fights are the number one cause for divorce. So, in addition to the emotional health that you and your future spouse need to foster, a good economic plan is very important to put into place as well. This newscast gives some good tips on what to do before marriage in terms of preparing for your financial future together. After all, who is paying the bills? Embedding is now disabled for this video (it was not previously so). Linked is the video that was previously displayed here: http://www.youtube.com/watch?v=rPhCltsGnwQ … [Read more...]
The Economics of Traditional Marital Roles
ABC News aired a clip on March 9, 2011 which answered two questions, the first of which dealt with chore-splitting between marriage partners. In it, they find that economic theory supports a marriage that is not 50/50 (where both partners share the same duties to make the division of labor "fair"). Instead, economic theory shows that when people specialize in tasks and do them more efficiently than another, it makes sense to let that person do those tasks while the other person is doing tasks which is more suited to him/her. This is called "comparative advantage." In the end, both spouses will … [Read more...]
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