Get your financial life in order before the new year

Get yur financial life in buchungbefore the new yearAre you finally ready to get your financial health in better shape? If so, then youre thinking wisely, because its never too soon to start taking your relationship with money more seriously and plan for your futurelike it or not, its going to come eventually, and those who prepare for it in advance will be ready to face it responsibly and with as little anxiety as possible. googletag.cmd.push(function() googletag.display(div-gpt-ad-1467144145037-0) ) For most of us, the future can be an uncertain entitywhat our professional and personal lives will look like as the months, years, and decades roll forward can be difficult to predict, and unexpected twists and turns along the way can derail our plans and force us to revise our goals along the way. This uncertainly can cause a great deal of stress, so it makes sense to have as much under our control and working in our favor as possible. Having a financial safety net of sorts to help se e us through is obviously beneficial.Have we convinced you that its a good idea to start getting your financial life in order? If so, then keep reading, and consider using the following strategies to get you started on the right path.Get seriousOne of the most important aspects of getting yourself in good financial shape is to get in the proper mindset for doing so. Like most endeavors in life that require a change in behavior and extended displays of discipline, being in the right mental space at the onset, during the critical first steps, is an essential ingredient for success.So, in order to get started with the right attitude and mindset, try making a list of goals for getting your life in financial order. Both short- and long-term goals are fair game here. Do you want to pay back a loan or reduce your debt? Do you want to make a significant purchase sometime in the future that you want to be in better financial shape for, like a car or home? Are you preparing for a major life c hange, like a move or starting a family? Having a set of tangible (and achievable) goals on your radar can help you get in the right mindset for making smart financial decisionsboth now and over the long haul. The truth is, sometimes it takes having a destination in your sights to make it through a long journey.Start smallFor most of us, we cant simply buy our way to financial freedomits more of a long, hard road than a quick sprint, and its a journey that often never has a definitive end. So, think of your initial move to get your financial life in order as a series of small steps in the right direction. Even if they dont completely change your life in an instant, theyll get you moving in the right direction and will help you develop fiscally responsible behaviors, build on your positive inertia, and bolster your mindset and discipline.Think of some small ways you can get startedperhaps save a little bit of money each week from each paycheck or find a few ways you can earn some ext ra money (a part-time job or selling some of your unwanted stuff are great ideas). You can also try eliminating some unnecessary expenses in your life. Dont look backlike any great journey, getting on the road to financial order begins with a single step.Get helpOne of the really nice things about getting your financial life in order these days is that there are more tools than ever before to help you stay on track. An army of app developers have devoted their efforts to creating financial planning, organizing, and saving tools that can help you get your finances in order and hit all of your money milestones along your path to financial freedom. A little Internet research to discover the latest and greatest apps that best meet your needs is time well spent. Many available apps are free or low cost, so testing some out and discovering the ones that work well for you through trial and error wont be a monumental investment.You can also turn to friends and family for helpthe truth is, h aving the important people in our lives helping to keep us motivated can mean the difference between success and failure in a challenging situation. So, let your friends and family know about your financial plans, fill them in on how they can help, and use their support to achieve your goals.Getting your life in financial order may not be easy, and you may stumble and restart at times along the way, but its a journey worth taking, and one thats best to start early. Use the advice and strategies presented here to help get you moving in the right direction when it comes to your money and finances.

5 Money Habits Every Couple Should Master Before Getting Married

5 Money Habits Every Couple Should Master Before Getting Married You did it. You met your soulmate, fell in love and are preparing to take the next step forward in your relationship by getting married. A lifetime of commitment, adventure and fights over finances lies ahead of you wait, what was that last one?Money. The big green elephant in the room is ranked in the top 10 reasons for divorce for several reasons, fruchtwein of which stem from poor communication. I know, I know. Talking about money isnt the most fun or sexy pre-wedding topic to tackle when you could be cake tasting or picking a honeymoon destination. However, once the wedding is over, youll realize that conversation was an important investment in your relationship. The better understanding of your lebenspartners money habits you have early on, the more youll be prepared for the financial future for two that comes after saying I do.For richer, for poorer, and everything else in between, focus on maintaining these heal thy money habits before marriage.1. Getting comfortable sharing your financial lives.Aly Russo is getting married in 2020. Russo is an outreach specialist at FinanceBuzz.com and as she plans for her wedding, Russo says she is lucky she and her partner have been open with one another about their finances for years. Discussing money happened well before the pair were engaged, and Russo leistungspunkts great communication as key to having conversations about money.When it comes to finances with your soon-to-be spouse, make sure youre both comfortable sharing your financial lives, she shares.Even the scary statements like student loans? Especiallythe student loans. If your existing debt worries you, dont bottle that feeling up inside. Talk to your significant other honestly about it. Share everything that concerns you, no matter how big or small, so you can plan how to tackle existing debt and pay it off.Vowing to spend the rest of your lives together includes taking responsibility for one another debt included, Russo says. Having an open conversation with your fianc will only make you more prepared to spend the rest of your lives together, happily and financially stable.2. Budgeting... together.Now that youre on a dual income, youre ready to learn about a new tischset of financial expenses and income and the spending and budgeting habits of your partner.Financial attorney Leslie H. Tayne is the founder of debt management law firm Tayne Law Group P.C. She advises couples figure out their budgets together in a positive manner that is planned out for their maximum benefit. Theres the fun of budgeting for the wedding, of course, but its also important to budget for living together and financial goals youre working to achieve.Set money habits early and stay on the same page, Tayne says. Know who will pay the bills and where the money is coming from for spending and expenses. Take into account everything that may change once youre married, including health insurance premiums and tax implications.One of the best money habits couples can get into early on is deciding spending wants versus needs. Tayne notes that these are often subjective, so its important to get on the same page and know each partners habits.Everyone has a different threshold of spending, Tayne says. Some spend a little, some spend a lot. Some plan, some are spontaneous. You can set the pace for spending in the relationship if you know your habits and your partners habits.Speaking of, is it better to open joint accounts or keep finances separate? Ultimately, Tayne says theres no right or wrong way to manage your finances as a couple, as long as both partners are in agreement.3. Coming up with plans to manage debt.Many couples getting married may have some debt joining them at their nuptials, like a student loan. Having debt isnt great, but its important to have a strategic plan for you plan to get out of it. Tayne emphasizes that each partner discloses the exact details, no matt er how embarrassing, of the amount of debt they owe. The next step? Discovering how they plan to get out of debt and if theres a real plan in place to pay it off.Talk through your plan to pay off debt with your partner so they have a better understanding of your overall financial standing as a couple, Tayne says.What happens if youre not honest about your debt and repayment plans? Tayne warns that this can lead to financial problems for both the individual and the couple, and even cause relationship troubles.4. Understanding leistungspunkt scores.Before you walk down the aisle, credit industry analyst Nathan Grant emphasizes that both partners understand how credit scores work and know each others number. According to Grant, bad credit scores threaten the likelihood of your future together. Regardless of who is at fault for the delinquency, late payments can stay on credit reports for up to seven years. This can create serious struggles for couples looking to be approved for future loans for transportation, rental property and/or a home mortgage, or joint credit cards.If you do have bad credit (gulp), all is not lost.Responsible credit use and timely credit card and loan payments will help steer your scores back up over time, Grant says.5. Keeping the money conversation going.Talking about money isnt a one and done conversation for any couple. After getting married, check in with your partner on a regular basis to review monthly financial updates. This gives you a better idea of whats happening with your money, how debt is being repaid and how youre working towards goals like home ownership or starting a family as a team.