Newlywed tips

[shengmei]

YO GUYS......

Do you have any moneysaving tips for a newlywed couple? What was the most expensive thing you had to do (besides the honeymoon) as a newlywed?

[Ima saver]

Well, we had to pool our money and discuss how it was to be spent, and who was going to handle the finances. We didn't have any secrets when it came to money!

[tgavin71]

When hubby and i married we lived on his wage and saved mine.

[34saving]

Check all your insurance stuff. Dh ended up double health insured because we missed the enrollment cut off (that nobody told us about despite our asking) by ONE DAY!! So, not only did neither insurance company want to pay any claims, we were paying premiums to both. . . . (His car insurance might go down too -- esp. if you guys are quite young.)

Don't buy any new furniture (except possibly a mattress). Used furniture is just fine. It goes by "early newlywed" Don't buy anything over x amount (say $50) without sleeping on it. (You'll get targeted for all sorts of interesting things ranging from timeshares to vacuum cleaners. The VAST VAST majority are RIP OFFS. If you absolutely love whatever they're trying to sell you go to eBay and get it for 1/2 price (or less).

[Joan.of.the.Arch]

I can't remember anything that was expensive. We lived with little and that was fine with us.

[PrincessPerky]

someone should learn to cook, and don't assume you both have to have jobs, you might find it cheaper to keep one job and do more 'frugal stuff' (or you might prefer to work, whatever, just don't assume)

Don't assume he will pay or she will pay, talk. I told DH how I hated when I saw a couple discussing money while out, it was like a slice of their private life out in the open, do it before you go, invent a few cryptic lines, but don't air your dirty laundry while he is asking to order yet another beer....

On a similar note, if I have the money I don't 'dole it out' to DH, I pay, if he has it, he doesn't dole it out he pays. I ahte the impression that one or the other is on a tight money leash (might be true, but leaves me feeling sorry for the leashed)

Course that has little to do with newlyweds....

[sweeps]

Originally Posted by 34saving

You'll get targeted for all sorts of interesting things ranging from timeshares to vacuum cleaners.

This is so true. Almost always if a salesman says "You have to buy right now or the deal is gone.", it's a big ripoff. You should always be given at least a day or two to think about a big purchase.

By the way, many states now have buyer's remorse laws which allow you to cancel some contracts up to 3 days after you sign it.

[Thrifty Ray]

Here is my "I wished Id known then, what I know now list":

Marry and have children with the 'right' person...getting out of and starting over are VERY expensive.

CCs may seem harmless at 'just $25 a month payments' ...but once you start, they snowball...

Have some fun together before you have kids...it is OK to wait... (I was 20 when I had DD1...)

Learn to cook. This will save you bundles over the years.

Save part of everything you make...emergencies can and WILL happen.

talk, talk, talk about your financial dreams and goals...GET ON THE SAME PAGE and work together to reach those goals.

The sooner you start saving for retirement, the sooner you retire.

Every tomorrow is a new day.

[Ima saver]

Take at least 10% out of every paycheck for saving before you pay the bills.

[marjorie]

Before spending lots of money to furnish a household, think about what will really serve you well both now and in the future. I was able to use the same large Corningware server to bake, freeze, stovetop and store in. Using a toaster oven and that 1 large pot I served 30 construction guys dinner once! It helped me define what I really wanted and needed, so I didn't buy until I was sure I would use something.

[LuxoDave]

Originally Posted by tgavin71

When hubby and i married we lived on his wage and saved mine.

This is what we did. We saved enough to put 20% down on our house doing this. The real estate agent was shocked we could pull that off.

[tgavin71]

Originally Posted by LuxoDave

This is what we did. We saved enough to put 20% down on our house doing this. The real estate agent was shocked we could pull that off.

Another major advantage is that if u decide to have children and one of u wants to stay home with them u don't notice a difference in ur lifestyle

[Roupey03]

Originally Posted by tgavin71

When hubby and i married we lived on his wage and saved mine.

If you can afford to do this I would say this is your best bet. This is exactly what I plan to do when I get married, but is it going to be possible? We will see considering we are both still in school and dont have full time jobs.

[PrincessPerky]

err don't wait, do it now...then you know you can!