Money management many studies show that one of the areas of greatest conflict and disgust in marriage is related. When the common life of a couple begins, it is crucial to avoid certain mistakes that can cause damage and stress to the couple in the long run.
What not to do
Start Marriage with Debt
The joy and excitement of the early days may have sudden end when the couple realizes that starts living together. Thus, it is normal for couples facing financial battles from the first day because they did not have the breadth of vision necessary before marriage.
Some people have savings accounts, stocks, bonds or mutual funds investment, which in many cases their parents were buying them from small as a form of savings, for they were used at an important time. These assets can be significant, as a backup to prevent life together starts with financial troubles.
Buy a New Car
It is so tempting! It seems that everyone was driving a new car. However, the sad reality is that a new car is among the worst investments you can make. 0% financing, extended warranties, and other advantages offered by car dealers, do not alter the fact that the value of a car depreciates very quickly, just take the car to the dealership.
Few couples now preserved for long vehicles they buy when they get married, because circumstances change quickly, especially if you have a baby soon, and the car model that was used for a newly married couple is not suitable for a family of three or four.
Nor is the same car that needed when living conditions change, for example by moving to a more remote location. Therefore, if a couple has to buy a car, it is more convenient to be a good quality used vehicle. Even if soon have to sell it is more likely that in the case of a used car, recover the investment, or even obtaining a profit.
Start Everything Newly when you have Child
It’s easy to forget that the majority of people have taken you a lifetime to acquire what we now have.
We managed to use until we could buy new furniture, but I know some people who had furniture from the beginning, through purchases on credit. It may look cute, but maybe later discover that such furniture is not practical after the children arrive, because they can foul or even destroy, or not properly fall within the new department, and the effect of the interest, ended up costing twice the list price.
Remember it takes time to turn a house into a home. Make a list of things. You need or want, in order of importance, and then buy them as they save for it.
Using Credit Cards
The golden rule is not to pay by credit card anything to you. Unable to pay before incurring financial costs. Emergencies do happen, and sometimes credit card is the only means of payment in times of crisis.
A common mistake is to use credit cards to purchase items that cannot be bought in cash for lack of money, but you feel you “deserve”. certain clothes, expensive dinners in restaurants, catering, are some expenses incurred by young couples, but in reality, they are unable to cope.
While newlyweds should live no denying everyone, yes it is appropriate to spend sparingly, and know self-limited.
After all, there are less expensive, such as going to businesses that are not branded, take advantage of discounts, simply go to an expensive restaurant once in a while, etc.
The problem is that young couples can begin accumulating debt to buy what they want and when they want. This could prove fatal, ultimately, when the couple realizes that only has available to pay interest, but who will maintain debt capital for long. This affects their ability of future purchase.
Conclusion
The keys to a healthy financial relationship in a young couple are to plan for the future, use common sense, practice self-control and avoid these common mistakes I have outlined.
Prevention is really the key to a simple financial future. If a couple can enforce these keys, will have peace of mind, especially if you review the story ten years later.