10 How to Set Financial Once Married

Married has become the desire of many people in the world. But what about afterwards?If you are newly married, we congratulate. But do not stare into the king and queen overnight, because the homework difficult stretches in front of your marriage. One step could be worse.

"Managing finances during the bachelors and married very different," said Devino Rizki Arfan (www.devinorizki.com), an independent financial planner. "Because, after marrying many changes in the financial mindset to be done."

To build a good start, Devino split 10 steps:

Start Saving. You may have spent the entire savings for a wedding. Well now is the time to rebuild. For starters, collect at least as much as 6 months of monthly expenses as an emergency fund.

Say goodbye to the separate accounts. Once married, the money is not yours or mine, but belongs to both. Make a checking account or savings for the financial goals together.



Update beneficiaries. Change all beneficiaries on insurance policies, pension plans, mutual funds, and other securities with the name of your spouse. It is actually not absolutely necessary, especially if you and your partner have a child yet.
 
Debt. If your partner is not yet know anything about your debt, it is better to talk about. Thus you can decide how you both will pay off the loan
 
Find out where your money runs out. You and your partner need to cooperate to track down family expenses. It is easier to evaluate and achieve financial goals when you understand thoroughly wherever the money is spent and how spending patterns.
 
Create an agreement on family expenditure. Like single, you both would have earned and spent money for years without consulting anyone.Prioritize purchases. Part of the marriage means jointly decide how to spend your money. Make a list of purchases that will come - school fees, house, car, furniture or a pet room - and prioritize them than other expenditures.
 
Consolidation of your credit card. Avoid having more credit cards than you need. It also makes it easier to keep track of household expenses.
 
Buy life insurance. If your income is used to pay both your monthly expenses - and most couples do - make sure you both have enough life insurance to protect each other. This is absolutely necessary if you both already have dependents, such as children or the elderly.
 
Organize documents. Make sure you both know where important documents are stored. These include birth and marriage certificates, Social Security card, bank and investment account information and tax records.