Newspapers / The News-Journal (Raeford, N.C.) / April 10, 1996, edition 1 / Page 28
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“With this Ring” p. 6 Plan now for future financial success By Kristin Guthrie Staff writer The newness of getting married can cause jitters for everyone, and financial stability can help tame the roller coaster ride of the first years of marriage. According to statistics from Art Will iams’ Common Sense, the average American saves less than anyone in the world, 5.4 percent of our disposable income in 1989 as compared with 12 to 28 percent in places such as West Ger many, Japan and South Korea. If being financially average doesn’t sound appealing, following some sound financial advice based on a solid gameplan may be just the right remedy for the financial blues. This plan doesn’t have to be complicated, it just has to be flexible, but firm. Most of all, if any plan is to work, it has to be obeyed. Because a budget requires discipline, many people see budgeting as a form of punishment, said Burkett. What people don’t understand, said Burkett, is a bud get actually relieves worry, frustration and anxiety and offers stability in a seemingly unstable arena. Get started now. Many people say they don’t have enough money at the end your money. of the month to invest in anything, whether Adjust your lifestyle. The truth is “you it requires a large sum of money or just a can’t have everything,” and you may few dollars. This is not true, said Williams, have to make sacrifices from time to time. “No matter what your income, you can Adjusting you lifestyle may only require find money to save. It’s a matter of repo- eliminating some extravagance without sitioning your income and priorities.” Evaluating your spending habits and ad justing your priorities are another way to begin. Keep track of where you spend money and try to limit spending on unnec essary things. This step requires some discipline, but it is needed if you are ever to master your 10 10 any decrease in enjoyment of your life’s activities. I A fifth way Williams sug- |||i gests to get started saving is to '■ get an additional income, whether it is a part-time job or working out of the home in small business. Again, this ex tra money must be budgeted or else it too will be spent on unnecessary items. Most financial consultants recommend newlyweds corn- money, rather than it controlling you. municate about how and where to spend Establishing a budget is a third way, money and create a budget that suits probably the best way, to take control of them both. spending. Keeping a record of your fi- “Spouses who come into a marriage nances uncovers where wasted spending with different financial points of view habits have formed and helps prevent must make a concerted effort to talk continued wasted spending in the future, honestly about money, plan for a secure Determining in advance where money future, and work toward mutual financial will be spent allows for more effective goals,” say the North Carolina Associa- saving and spending on things you need tion of Certified Public Accountants, and it allows for you to feel in control of There are several important decisions ^rom bridal Sdowers to the Wedding %k Jiave ‘What You J^eed at BO'S Food Store 240 S. Main St., Raeford, NC 875-2451 We will make deli trays to meet your party needs! Party square cakes and Wedding cakes made to order! • ^ ^ Sc Foe-mik/e'Cie s • Rental Bridesmaid Dresses • Carlson Craft Wedding Invitations • Formal Gowns (Rent & Sell) • Rental Tuxedos starting at $45.00 • Tux warehouse, all tux in stock, same day service Walmart Shopping Center (across from Cross Creek Mall) (910) 864-8211 out of town 1-800-367-3921 OPEN 7 DAYS A WEEK ^ ^ ^ marriage begins, One decision is. will the couple co-mingle their resources or main tain separate ownership of their income and assets? The association suggested one ap proach as setting up a “joint account for living expenses and savings, while keep ing some money separate. This compro mise can facilitate your day-to-day money management whild allowing each spouse some financial autonomy ' Another decision made early on in the marriage is. who will pay the bills and manage the books. If one of the marriage partners is naturally gifted in this area, the decision is simple, but if neither partner wants to keep the records, the couple may choose to take turns every six months? Still another important issue is coordi nating company benefits if both partners work. Working to get the best combina tion of benefits from the two workplaces is only derived from careful comparison Let us help you plan your perfect honeymoon! Romantic Cruises Intimate Hotel Honeymoon Specialists Romantic Cruises Personlized Free Service Special Disounts for Honeymooners Customized honeymoon packages designed especially for you! Bordeaux Shopping Center Fayetteville, N.C. 28309 (910) 483-6001 (800) 682-2543 Fax 910-483-3199 “rrcTTT 1.1
The News-Journal (Raeford, N.C.)
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April 10, 1996, edition 1
28
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