In Business / July 2006
Marriage Matter$
By Pam Dowler
Before walking down the aisle perhaps couples need to share information about what the household income will be and what expenses will be after the big day. For better or worse, couples inherit their entire partner’s issues-the good, the bad and the ugly.
Couples that are planning to marry must have mutual as well as individual goals. Goals need to be not only short term (within the year) but also long term (within the next 3-5 years). Be truthful with each other. It is important to talk now about the goals and any necessary changes or sacrifices that may need to be made by both parties.
Together couples need to create a spending plan but take into account current income and expenses. Be sure to take a realistic look at what the income and expenses will be as a married couple.
It is important to share credit reports and credit scores with each other. The score could affect any future joint or individual purchases. There are agencies available, which provide Tri-Merge Credit Reports, and the reports also provide the Credit Score. These agencies have counselors available who will also sit down with couples and individuals, explain the report and advise of any changes or corrections that may need done to improve credit scores.
With some action, couples and individuals may begin planning for their financially secure future.
Pam Dowler is Executive Director of Consumer Credit Counseling Service of the Mid Ohio Valley (CCVCS) a non-profit organization based in Parkersburg. For more information, call 304.485.3141, 1.866.481.4752 or email cccspkbg@wirefire.com.
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Femme Fair 2006
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