Financial planning tips for young married couple

This question appeared in Quora and one of the answers caught my attention. After taking permission from the person who answered, I’m copying his answer as a post.

 

Here are a few ideas:

  1. Live on one salary and save and invest the other.
  2. Always try to live on 1/2 of what you make and save and invest the rest.
  3. Do not get into debt.
  4. Live modestly.
  5. Don’t overspend on houses or cars. It isn’t worth it.
  6. Pay cash for all cars.
  7. Always get a 12–15 year mortgage.
  8. Don’t get caught up in buying things. Own stuff, don’t let your stuff own you.
  9. Have an emergency fund of 6 months – 12 months of expenses.
  10. Invest time into each other and into the marriage.

 

 

The profile of the person who answered this: https://www.quora.com/profile/Gordon-Miller-21

 

His answer link: https://www.quora.com/What-are-some-pieces-of-advice-to-help-a-young-married-couple-get-ahead-financially/answer/Gordon-Miller-21

 

Photo credit- http://www.balajiautomobiles.net/img/finance2.jpg

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About Abhisek

Creative Writer, Blogger, Traveler, Finance Professional
This entry was posted in Entrepreneurship, market, social stories and tagged , , , . Bookmark the permalink.

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