Comments on: Four Steps for Responsible Budget Management for Newlyweds http://www.mint.com/blog/how-to/four-steps-for-responsible-budget-management-for-newlyweds/ The blog of the free, simple personal finance solution. Track all your spending automatically, find the best deals, save more money. And save the world. Sat, 11 Feb 2012 21:46:28 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Sean http://www.mint.com/blog/how-to/four-steps-for-responsible-budget-management-for-newlyweds/comment-page-1/#comment-31974 Sean Tue, 09 Jun 2009 13:17:39 +0000 http://www.mint.com/blog/finance-core/four-steps-to-becoming-a-financially-responsible-newlywed/#comment-31974 So how do I add my new bride to my Mint account so she can help keep on budget? So how do I add my new bride to my Mint account so she can help keep on budget? ]]> By: Amanda http://www.mint.com/blog/how-to/four-steps-for-responsible-budget-management-for-newlyweds/comment-page-1/#comment-31973 Amanda Tue, 09 Jun 2009 12:53:31 +0000 http://www.mint.com/blog/finance-core/four-steps-to-becoming-a-financially-responsible-newlywed/#comment-31973 I agree with Maria's comments that many of these conversations/actions should take place BEFORE you get married! I agree with Maria’s comments that many of these conversations/actions should take place BEFORE you get married! ]]> By: WhiteEyebrows http://www.mint.com/blog/how-to/four-steps-for-responsible-budget-management-for-newlyweds/comment-page-1/#comment-31972 WhiteEyebrows Tue, 09 Jun 2009 12:49:19 +0000 http://www.mint.com/blog/finance-core/four-steps-to-becoming-a-financially-responsible-newlywed/#comment-31972 Having just gone through this, I'll say it has been a challenge, but using mint has greatly helped us. Rather than trapsing down to every bank we have (between us we have about 20 accounts), we just plugged all her accounts into my Mint account and instantly saw our combined net worth! The hardest parts of getting married financially have been 1) getting weird looks from bankers when we tell them we want joint accounts 2) shopping for insurance and 3) deciding what we are going to use debit cards and credit cards for. We had different buying behaviors before our marriage, so we have to bring those together now for the ultimate financial harmony. Either way, mint always helps us know exactly what our cash, retirement savings, investments, and credit card situation is. GO MINT! Having just gone through this, I’ll say it has been a challenge, but using mint has greatly helped us. Rather than trapsing down to every bank we have (between us we have about 20 accounts), we just plugged all her accounts into my Mint account and instantly saw our combined net worth!

The hardest parts of getting married financially have been 1) getting weird looks from bankers when we tell them we want joint accounts 2) shopping for insurance and 3) deciding what we are going to use debit cards and credit cards for. We had different buying behaviors before our marriage, so we have to bring those together now for the ultimate financial harmony.

Either way, mint always helps us know exactly what our cash, retirement savings, investments, and credit card situation is. GO MINT!

]]> By: Heather http://www.mint.com/blog/how-to/four-steps-for-responsible-budget-management-for-newlyweds/comment-page-1/#comment-30386 Heather Wed, 15 Apr 2009 16:57:52 +0000 http://www.mint.com/blog/finance-core/four-steps-to-becoming-a-financially-responsible-newlywed/#comment-30386 Great advice here. Planning for these things-- budget, big purchases, savings-- can all be overwhelming discussion points, but the sooner a couple talks about them and takes action, the better. Mint does an awesome job of laying the foundation for an easy way to track expenses and create an outlet for identifying ways to save/cut expenses to reach such goals as buying a home and/or saving more for retirement. Great advice here. Planning for these things– budget, big purchases, savings– can all be overwhelming discussion points, but the sooner a couple talks about them and takes action, the better. Mint does an awesome job of laying the foundation for an easy way to track expenses and create an outlet for identifying ways to save/cut expenses to reach such goals as buying a home and/or saving more for retirement. ]]> By: OaklandTechie http://www.mint.com/blog/how-to/four-steps-for-responsible-budget-management-for-newlyweds/comment-page-1/#comment-15684 OaklandTechie Tue, 22 Jan 2008 06:57:16 +0000 http://www.mint.com/blog/finance-core/four-steps-to-becoming-a-financially-responsible-newlywed/#comment-15684 Be careful with "duplicate coverage" and insurance. Call each of your providers and make SURE they are okay with it. I had a situation with my wife when we were first married where she was covered by Kaiser (her) and Blue Cross (me). She had some major health issues and Blue Cross actually at first refused to pay it because they said she was already covered by Kaiser! The provider she went to was not a Kaiser provider, so Kaiser wasn't going to cover it either. We had to actually renouce our Kaiser coverage with a letter and then Blue Cross finally begrudgingly paid the bill. Be careful with “duplicate coverage” and insurance. Call each of your providers and make SURE they are okay with it. I had a situation with my wife when we were first married where she was covered by Kaiser (her) and Blue Cross (me). She had some major health issues and Blue Cross actually at first refused to pay it because they said she was already covered by Kaiser! The provider she went to was not a Kaiser provider, so Kaiser wasn’t going to cover it either. We had to actually renouce our Kaiser coverage with a letter and then Blue Cross finally begrudgingly paid the bill. ]]> By: Maria http://www.mint.com/blog/how-to/four-steps-for-responsible-budget-management-for-newlyweds/comment-page-1/#comment-5481 Maria Mon, 08 Oct 2007 22:00:15 +0000 http://www.mint.com/blog/finance-core/four-steps-to-becoming-a-financially-responsible-newlywed/#comment-5481 Wow - I just came across your site, and although I found a few other article worthwhile and very good, I am rather disappointed in this article. About half of this, if not all of it, should happen BEFORE you get married, NOT after. That first sentence is way off - you need to start thinking, and planning for merging finances BEFORE the wedding, not after. You need to know where you are financially BEFORE the wedding, you need to plan the financial future BEFORE the wedding. Based on the statistics of couples arguing about money and divorce rate factor, it's important to think of this, and talk about it, BEFORE the big day, not after. If you discover you and your future spouse are way off in how you feel about money, spend money, save money, it's important to figure out how you are going to deal with these issue BEFORE the big day. Of course this doesn't mean you won't become part of the statistic, but hopefully it'll help you avoid it. I'm going to continue to peruse your site, since I just found it, and the "The Four Terrible Money Mistakes We Make With Our Kids" article was very good, I have to say, I am disappointed in this one. Hopefully the others will be better. Wow – I just came across your site, and although I found a few other article worthwhile and very good, I am rather disappointed in this article. About half of this, if not all of it, should happen BEFORE you get married, NOT after. That first sentence is way off – you need to start thinking, and planning for merging finances BEFORE the wedding, not after. You need to know where you are financially BEFORE the wedding, you need to plan the financial future BEFORE the wedding. Based on the statistics of couples arguing about money and divorce rate factor, it’s important to think of this, and talk about it, BEFORE the big day, not after. If you discover you and your future spouse are way off in how you feel about money, spend money, save money, it’s important to figure out how you are going to deal with these issue BEFORE the big day. Of course this doesn’t mean you won’t become part of the statistic, but hopefully it’ll help you avoid it.

I’m going to continue to peruse your site, since I just found it, and the “The Four Terrible Money Mistakes We Make With Our Kids” article was very good, I have to say, I am disappointed in this one. Hopefully the others will be better.

]]> By: Link for Weekend Reading - 7/27/07 | Smart Saving and Investing http://www.mint.com/blog/how-to/four-steps-for-responsible-budget-management-for-newlyweds/comment-page-1/#comment-1970 Link for Weekend Reading - 7/27/07 | Smart Saving and Investing Fri, 27 Jul 2007 20:29:32 +0000 http://www.mint.com/blog/finance-core/four-steps-to-becoming-a-financially-responsible-newlywed/#comment-1970 [...] Four Steps to Becoming a Financially Responsible Newlywed [...] [...] Four Steps to Becoming a Financially Responsible Newlywed [...] ]]> By: Ryan http://www.mint.com/blog/how-to/four-steps-for-responsible-budget-management-for-newlyweds/comment-page-1/#comment-1482 Ryan Fri, 13 Jul 2007 19:55:55 +0000 http://www.mint.com/blog/finance-core/four-steps-to-becoming-a-financially-responsible-newlywed/#comment-1482 Just thought I would note that you need to really consider all the options before deciding to have dual medical or dental coverage. Most insurance carriers have what's called "Coordination of Benefits" which essentially means they will pay a part of the claim so that the two insurance carriers combined don't pay more than what one of them would have if you were only covered by one plan. This means that it almost never makes sense to dual cover yourself. The only exception is if your employer pays 100% of the cost to add your spouse. Even if you can add your spouse for only a few dollars per month over the course of the year you will not gain financially from this move. Just thought I would note that you need to really consider all the options before deciding to have dual medical or dental coverage. Most insurance carriers have what’s called “Coordination of Benefits” which essentially means they will pay a part of the claim so that the two insurance carriers combined don’t pay more than what one of them would have if you were only covered by one plan. This means that it almost never makes sense to dual cover yourself. The only exception is if your employer pays 100% of the cost to add your spouse. Even if you can add your spouse for only a few dollars per month over the course of the year you will not gain financially from this move. ]]> By: Misti http://www.mint.com/blog/how-to/four-steps-for-responsible-budget-management-for-newlyweds/comment-page-1/#comment-1440 Misti Thu, 12 Jul 2007 22:38:19 +0000 http://www.mint.com/blog/finance-core/four-steps-to-becoming-a-financially-responsible-newlywed/#comment-1440 Thanks. This is great advice. I'm wondering about retirement. Should a young married couple contribute to two seperate retirement accounts or would one be ok? Thanks. This is great advice. I’m wondering about retirement. Should a young married couple contribute to two seperate retirement accounts or would one be ok? ]]>