Tag: expenses

It is crucial when you're divorced to consider hard decisions that will impact your child. While depending on your financial abilities, there could be several ways in which you can see your child doing exceptionally well in academics. However, you have to decide how much you and your spouse can spend on your kids’ tuition and education as a whole. The divorced parents can follow these 5 ways to plan for their kids’ home tuition.

Some 56 percent of Americans say they want a partner who provides financial security more than all-consuming love (44 percent) according to a survey of more than 1,000 people by Bank of America Corp.’s Merrill Edge. The good news is that couples can boost both their love and finances with my trust-building tips:

1. Acknowledge that talking about money can be emotional and prepare accordingly. Choose a time when you're both relaxed and not rushed. Begin the conversation with something like "I know that our finances can have a great impact on the health of our relationship. I'd like to start talking about money so that we understand each other and can get on the same page."

It won’t be long until summer, and many are looking forward eagerly to that annual summer vacation. For some, it’s worth waiting for, but for others it’s not worth overspending... and the fact is many Americans do.

An Experian survey found that 68 percent of people overspend on summer vacation, and 35 percent don’t save for it. You want to enjoy a vacation and know you’re not paying for it for years to come.

Before you decide to divorce, consider if working on the marriage is cheaper than the process in which you are going to venture. Legal fees are certainly daunting and no divorce is going to be filed, negotiated and completed in less than 20 hours of legal time. Multiply this by your lawyer’s hourly rate and you are already talking about real money.

Let’s start at the beginning:

1. If there is a residence as part of the marital assets, unless there is an agreement as to its value, it will have to be appraised—another cost.

If the past year has taught us anything, it’s that financial catastrophe can strike at any time—and that most people aren’t prepared to handle the rainy days. In fact, a recent MetLife study showed that more than half of Americans live paycheck to paycheck—and these days, some of us feel lucky to have a paycheck at all!

Being married presents unique challenges when it comes to saving because it’s often true that opposites attract, and saving habits are no exception. Many times, one person tends to be a saver, while the other partner might be a bit more impulsive.