College Loan Consolidation, Federal Loan Consolidation, Private Loan Consolidation, Student Loan Consolidation

America's Top Student Loan Provider

Tips for Couples
As with most areas in a relationship where compromise is necessary, the same thing will be true of your finances. So you'll have to collectively decide a multitude of things concerning money.

You may decide whether to buy a house together, whether to pay off one party's debts first, whether or not to have a baby, or when one person in the relationship can quit his or her job to start a business. All of these conversations have one central thread: money is involved. And if you're in a relationship, I assume you don't make unilateral decisions about all of these weighty topics.

You'll probably also want to decide whether to have separate accounts. Personally, I think it's advisable to have three separate accounts: his, hers, and ours. Couples can pay joint bills out of the ours account, which is really used to cover household expenses and other collective bills. People with their own accounts (whether checking accounts or savings accounts) also enjoy three benefits:
  • They get the freedom of spending, within reason, on the things they want. The strategy here is to put money into the joint account to fund all the household bills. And then each party can take an agreed-upon amount that's left over and put money into his or her own personal account. With the funds from such accounts, each party is free to spend on whatever he or she choose. No one has to ask for "permission" or get the other person's OK on spending choices.

  • Another plus of having a separate account is that it teaches each person financial independence. You're solely responsible for balancing your own checkbook, or keeping up with the money in your savings account, and you don't abdicate that responsibility to your partner.

  • Lastly, having three separate accounts is just a practical method of dealing with family finances for many couples—one that eliminates money battles and helps couples work together in a more cohesive, harmonious fashion.
If you really want to get married, go ahead and do so without worries about your fiance's bad credit, because the truth of the matter is that each individual's credit file and credit scores are maintained separately. Credit files do not get merged, even when two people marry. If a man with good credit is engaged to a woman with bad credit and large bills, the obligations that she had in the past are her legal and financial responsibility; not his.

A word of warning however: If, after you get married, the two of you open up credit card accounts together or you get loans (e.g., mortgages, car notes, etc.) jointly, then you both would be responsible for paying off those debts. Also, information about those loans will be listed (separately) in each of your credit files. Even if you should later divorce, if joint accounts were involved, you'd both be on the hook to pay back those debts.

In the meantime, for those who are worried about property you may own before marriage, you can keep the house in your name, and then later (once your spouse cleans up his or her credit and is financially stable), you can add his or her name to the mortgage if you want to go that route. The overall effort should be to work together as a team. That's the best way to build a strong financial future—and you can do it faster with two people pulling in the same direction, as opposed to working at odds with each other.


Article Title : Tips for Couples
Comment not found for this article.

Related articles
• Top Ten Tips for Winning Scholarships
• Tips to Pay Off Private Student Loans
• 6 Tips For Efficient Student Loan Management
• College Financial Aid - Tips for Repaying Student Loans
• Consolidate Student Loans - Smart Tips

Share this story:
  • BlinkList
  • blogmarks
  • Digg
  • Facebook
  • Google
  • Sphinn
  • MySpace
  • NewsVine
  • Simpy
  • StumbleUpon
  • Technorati
  • E-mail this story to a friend!
  • Print this article!
  • Faves
  • Furl
  • Netvouz
  • Slashdot
  • Spurl
  • Yahoo! Buzz

EdFed introduces… Awareness… Learnal
At, EdFed, we proudly introduce 'articles on student loans' and 'Learnal - the journal to learn from', our free newsletter on student loan management, which is sure to keep you informed of the latest events and happenings in the student loan market. To receive your copy of the above just use the RSS feed below and add this to your "My Yahoo", blogs, newstickers, and other similar channels accepting distributable content.
Click here to sign up for our Weekly Newswire now!

How EdFed Helped others!
Edfed ranks among the top lenders and for good reason, Their staff was so helpful to me and made sure I understood everything that was going on. I appreciate all their help.
- Todd G.  Denver, CO
* Your Name: * Your E-mail Address:

We respect your privacy.
* Your Friend's name: * Your Friend's E-mail address:
Include a Message:
+ Privacy Policy

Student Loan Consolidation Info - How to Choose the Right Loan Company

This column is sponsored by Granted, America's top job search engine. The Career Resources column is presented by Granted, America's leading job search engine dedicated to getting people jobs.

Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.

read more
Schools Will No Longer Receive Paper FAFSA Forms
(September 20, 2007)

news desk
Stafford Loan Payment Calculator
PLUS Loan Payment Calculator
Loan Consolidation Payment Calculator
Glossary of Terms
Loan Comparison Chart
Scholarship Search
EdFed offers several different extended, graduated, and income-sensitive repayment programs to suit all needs.
US School Directory
Comprehensive List of Schools at which EdFed Assists Students.
EdFed is a FFELP lender with lender identification number 834241.
© Copyright 2016 EdFed. All Rights Reserved.

Home · About Us · Contact Us · News · Sitemap
Career Advice · Tell a Friend · Privacy Policy · Resume Service
Resume Distribution Service · Post Resume · Job Search Course
Sign up for the latest news on student loans.
Email Address:
+ Most Recent Newsletter
+ Newsletter Archives