Whether you’re engaged, married, or moving forward in a serious relationship, being on the same page financially is a key part to a successful relationship. So, if you’re trying to figure out your financial footing, you’ve come to the right place. We’ve created a quick guide to help you navigate the trials and tribulations of love and money – because money shouldn’t come between you and your happiness.
Romance and Finance
Discussing budgets, savings, and retirement goals should be part of every couple's conversations. You can set time aside and meet together, or even have a date night, to discuss budgeting as well as your
short-term, medium-term and long-term goals. To make sure you both stick to your goals, you can set
time-bound goals to ensure you meet your deadlines. For example, try setting short-term goals at less than
a year and give long-term goals over five years to flourish. This will help you stay on track and avoid losing
sight of the goal at hand.
Tips for Building Each Other Up When it Comes to Credit
If neither of you have credit, or have credit that needs repaired, consider a Credit Builder Loan or Secured Credit Card. If you have some credit but are looking to build more, qualifying for a small personal loan can help establish more credit or improve credit scores – so long as you make payments in a timely manner. If you are active duty on your first term, Tyndall offers a First-Term Military Loan that is perfect for all armed forces that need access to credit and transportation with limited or no credit.
Review credit reports together
If you and your partner are responsible with your credit but still have a low score, you may want to double check your credit reports together for any credit reporting errors. Thankfully, every consumer is entitled to
a free credit report from each of the three major credit bureaus. You can also obtain your credit report
from AnnualCreditReport.com.
So, once you’ve checked for any credit reporting errors, file a dispute if you encounter any mistakes. Once
the error has been removed, any deduction of credit score points due to the mistake should soon be
restored.
Be frank about managing money
Often, couples have different styles of managing money – one partner may be the penny pincher, while
their partner may be a free spender with a couple of credit mishaps. Focus on having an open discussion about how best you can manage your money
together.
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