Six Personal Finance Tips for Happy Couples

Love is in the air with Valentine’s Day just around the corner! The stores are filled with typical gifts like flowers and candy, and restaurants have already started booking up. If you don’t feel like dealing with the crowds and want to spend Valentine’s Day doing something that will have a lasting effect on your relationship, why not plan an evening of financial planning? This year give your loved one the gift that not only says ‘I love you’ but also ‘I want us to have a secure future together.’

Here are six personal finance tips to keep every couple happy this Valentine’s Day and for many more to come.

Be involved
It’s important that both of you are involved in setting goals, budgeting, saving, and investing. Many arguments can be avoided by simply having both spouses take ownership of their financial situations.

Make a Plan
The best way to achieve a goal is to create a written plan and then put it in motion. The two of you should build a short-term and long-term plan. Try to figure out what future expenses may be and start saving for those needs.

Plan for the Worst
Life is full of unexpected scenarios so make sure you are prepared to the best of your ability. Having a life insurance policy or disability insurance can help alleviate some of the hardship.

Utilize Social Security
Maximize, maximize, maximize. The age you decide to start taking social security can have a major impact on your benefits so it’s critical that you maximize your full benefit potential, or, at least, understand the cost if you must take benefits early.

Make Educated Decisions
Make sure you and your spouse research before investing instead of picking a random stock option on a whim. Consider working with a financial planner to get another viewpoint.

Create an Estate Plan
As much as you plan, you never know what life will bring. Don’t leave important decisions up to the state, take the time to create an estate plan so your loved ones are protected.

Debbie Cunningham has an extensive network of financial service and insurance professionals to assist with any of the non-legal steps.

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Law Offices of Debbie J. Cunningham

Debbie Cunningham is an Irving attorney providing affordable estate planning to the Dallas/ Fort-Worth areas. She understands the steps you should take to protect yourself and your loved ones. Debbie is family-focused and wants to ensure her clients are fully informed on the options that are available for their families. Debbie’s own blended family has given her valuable insights into the complexities of family dynamics.

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