- my iParenting
- quick clicks
- dads today articles
- dads today q&a
- message boards
- research baby names
- prepare a birth plan
- content channels
- ip channel rss feeds
- read birth stories
- read parenting stories
- recommended books
- e-newsletters
- safety recalls
- ip diaries
- ip store
- mom of the month
- dad of the month
- editor's letter
- letters to the editor
From Our Sponsors
 |
- e-newsletters
- Sign up to receive our free weekly e-newsletters
- award-winning products
The iParenting Media Awards program helps parents find the best products for their families.
Finding Financial Harmony in Marriage
A Guide to Being Debt-Free
After You Say "I Do"
After You Say "I Do"
By Heather Johnson Durocher
- Revamp your views of "budget": "To lots of people a budget sounds negative, like a diet," says Brette McWhorter Sember, author of Repair Your Own Credit and Deal with Debt (Sourcebooks, 2003). "The idea though is to know what you have coming in and going out and exercise some control over it. A budget doesn't mean you can't splurge or have fun, but it does mean you are careful."
- Use credit cards responsibly: Limit your credit card use as much as possible, and pay off the balance each month.
- Manage debt wisely: If you have to use debt, use debt wisely, McWhorter Sember says. Home equity loans make sense since the interest is tax deductible. If you have to make a big purchase (such as an appliance) look for a deal that allows you to borrow the amount for 12 months with no interest. Pay a portion of it off every month so that the entire amount is paid off before interest begins.
Think logically about vacations: If you can't afford to go to Disney every year, maybe you can afford to go every two or three years. "There are lots of smaller trips you can take – weekend trips and day trips – that let you feel as if you're on vacation but don't cost an arm and a leg," McWhorter Sember says.
- Realize that you just can't have it all: "You can't have new cars, a fantastic home, top-notch clothes, great vacations, lots of lessons and extras for your kids on the kind of money the average family has coming in," McWhorter Sember says.
- Talk about money as a family: "Get your kids involved in family finances," McWhorter Sember says. "Have them help save money by cutting coupons, packing their lunches or doing odd jobs to earn money. It is so important to teach your children how to use money while they are young, so for this reason give them allowances and talk to them about spending and saving."
