Tag: income

The following is a news item selected by the Hitched editors during the week of September 11, 2014.

Why Do Children of Married Parents Do Better?
There are countless studies that demonstrate that children of married parents do better in life. These kids typically do better in school (in all stages), including the fact that they're more likely to attend college; they're more likely to earn more money; and they're more likely to create their own stable families, which continues the cycle of prosperity. The big question is why?

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.

We know, you've recently filed your taxes and you either just paid money to Uncle Sam or you collected it. Not to mention that the rebate checks are starting to roll in. But if you're new to this marriage thing, the tax rules are different than when you were single. With the economy slumping, it's more important than ever to pay attention to your money.

Since 2003 when it was first introduced, the marriage tax penalty has evolved into more of a tax planning consideration than a surprise liability. To understand the concept you need to have a basic understanding of how tax rates work. I have always used the analogy of "walking up a staircase" when describing the progressive nature of tax rates.