Merging finances as newlyweds
Michelle Buria explains what newlyweds should do to help prepare for a lifetime of dual financial security.
After the wedding, newlyweds get to know many facets of each other on a much deeper level, including finances.
So how do you plan for that when you tie the knot?
Certified Financial Planner Michelle Buria says the first items on the agenda is to set goals and create a budget together. You’re going to need to set a threshold for big expenses.
She also stresses communication and holding regular meetings to stay on budget.
You’ll also need to get to work to update documents. This includes changing beneficiaries, re-visiting insurance coverage, and creating/revising your will.
There will be many critical financial plans you make throughout your so Michelle suggests meeting with a financial professional.