With wedding season around the corner, many couples will soon take a financial “plunge” together. But before signing a lease, mortgage or marriage license, stop to think about how well you know your significant other, financially. For example, is he/she in debt? How about long-term financial goals?

FICO, the leading credit score provider, shares these tips to help couples get ready for the big day: 

1)     Be honest, discuss finances with your partner – People tend to steer clear from discussing finances – but your partner’s financial burdens will affect your credit if you help out with their debts and obligations. After you marry, you may keep some assets to yourself; however, everything you acquire together will be merged.

2)     Good debt vs. Bad debt – For certain things, going into debt is worth it. Discuss what you’re willing to sacrifice with your partner early and set financial goals to fund each of these decisions. For example: Are you willing to put your kids through private school, even if you have to take out a loan to do it? How important is getting a new car, when finances are tight? Set a budget and identify common goals that work for you both before you accrue any debt.

3)     Bills, bills, bills – Before the wedding, map out a plan and decide who will pay for what or if you plan to share these responsibilities. People with a long history of paying their bills on time are expected by lenders to continue their good payment pattern, and will be more willing to obtain credit in the future. Late payments are one of the most common ways in which your score will be affected negatively.

4)     Don’t run up debt when planning the big day – Buying lavish seat covers and trucks full of flowers is easy, but paying them off years later is no honeymoon. Spend within your means; if you have a lot of debt, adding more debt or maxing out your credit cards will hurt your FICO score, making it harder to get a loan on big ticket items later (a home or a car, for example).

5)     Apartment, condo or house? Discuss home buying before marriage; timeline, size, price point, and financing should be agreed upon BEFORE visiting any open house. This talk may also spark conversation of each of your financial standings and credit scores.

If you would like to learn more about how FICO can help keep you in top credit shape, please visit myFICO.com or contact me via the below information.

The recent health care reform law has had many myths, lies, and misleading characterizations floated. I've seen emails, websites, and newspaper articles filled with inaccuracies. Here's a piece that dispels many of the myths about health care reform.

Health care costs are a large component of each of our yearly expenditures. It's important to know how this new law might affect you.

We’ve seldom seen a piece of legislation so widely misrepresented, and misunderstood, as the new health care law. We stopped counting the number of articles and items we turned out on the subject after the total reached 100.

Read the entire post for a great detailed breakdown that dispels many myths about the health care reform bill signed into law by President Obama.

More Malarkey About Health Care | FactCheck.org

Technorati Tags: health care reform, health care reform myths debunked, health care reform facts
 

Guest Post by Christian Gordun

The holiday hangover is not over yet – most of us still have a stack of holiday shopping bills piled up on our coffee tables or desks to deal with. In a recent post, we addressed one way people can rebound from the holidays and start anew this year, but just like any hangover, the ultimate cure involves more than just one simple trick.

Let’s take a look at some reasons why shoppers often end up with a massive debt headache and arm you with some simple but effective money-saving tips that will help you stick to your budget and avoid the infamous holiday shopping hangover.

The Cause

During the holiday season, shoppers are often rushed to check off all the items on their list and will forgo some of the easiest ways to save money such as checking out competitive prices or using coupons. As they get caught up in the holiday buying frenzy, many are forced to make impulsive purchases while last-minute shopping at stores, instead of researching different options online. The holiday rush causes consumers to forget how much they are spending and rack up massive credit card debt, which has shoppers making New Year’s spending resolutions they know they’ll never keep.

The Cure

Instead of making all those impossible resolutions, we’re going to let you all in on a little secret that will leave you debt-free after every holiday shopping season: you never have to pay full price for anything again! As a result of the recession, more retailers than ever are giving you the chance to save money via online coupon codes and deals. It’s simple, just follow these rules:

1. Go Online: Stop printing and start clicking! If you come across an invalid coupon, it’s easier to find a replacement when you’re shopping online rather than when you’re at a store.
2. Think Outside the Grocery Cart: Step away from the idea that coupons should only be used to buy groceries. There are coupon codes for almost every item that you can buy online – from magazine subscriptions to electronics and flowers.
3. Time it Right: The best online deals are offered three times a month: the very beginning, the very middle and the very end. Online stores post fresh coupons the 1st-3rd of the month, the 14-16th, and the 28th through the end of the month.
4. Avoid Shared Coupons: Avoid using sites that let users post coupons because the likelihood they will be faulty or expired is much higher. Instead use sites which ONLY post coupons that are approved by the retailer.

Coupon Craze is an online coupon code and deal site that will help you follow these coupon commandments. Like we said last time, if you’re hungover, you take aspirin, have a greasy breakfast, get hydrated and sometimes swear that you’ll never do that again! Treat a financial hangover the same way. Create a budget and then stick to it by using online coupons.

Are you ready to make online coupons a part of your shopping routine? Let us know!

About the Author

Christian Gordun is the founder and CEO of Coupon Craze, a free consumer resource with online coupon codes and deals from over 10,000 retailers. He founded the company in 2000 as a hobby, and prior to taking it on fulltime, spent five years as a senior programmer and technical project manager. He received his master’s degree from London Business School in 2008.

I stumbled across this ID Theft article today and thought I'd pass it along. I've written about ID theft before, but this serves as a good reminder.

It's interesting to note that most ID theft does not occur online; rather, it's in the physical world. Things like discarded mail, stealing your credit card info, and stealing your wallet. Sad but true.

If you're really concerned about online ID theft, get a really good security program like Trend Micro Internet Security Pro and a password manager like LastPass or RoboForm. Anonymizer is a good program for covering your online tracks.

For the most comprehensive ID theft prevention available, check out LifeLock.

Tackling the Little Things

Getting debt under control and improving savings habits are two big steps to a better financial life, but those actions only are possible if Americans have more specific aspects of their financial lives under control.

While the economy recovers, job stability remains a vast and very valid concern. Without income, saving stops and debt can spiral. Even if they still have a job, Americans need to assess their marketability and increase their professional value by networking and upgrading job skills.

If someone experiences a job loss, it’s important to be proactive. They should negotiate severance pay, file for unemployment benefits and look into alternative insurance plans, because living unprotected will risk their family’s security. Individuals who have lost their jobs also should immediately start looking for work. Most states allow people to work a certain number of hours, and earn up to half their previous income, and still retain unemployment benefits.

Those who are struggling financially also might find it difficult to pay their mortgage. If individuals have missed a payment, they should immediately search through financial records or identify spending habits to find out what caused the missed payment. They also should contact their lender, who is required to examine their client’s financial life before taking any drastic action against the client’s home.

Even without a job loss or mortgage trouble, it’s time for Americans to involve their entire family in assessing the household budget. Tracking spending for a month will reveal some easy places to cut back without causing any significant lifestyle changes. Turning off lights and appliances, cutting down on weekend trips and dinners out and eliminating habits such as smoking all will help reduce household spending. And, it will give the family a head start on saving in case of emergencies.

For Americans to recover, maintain or rebuild their financial lives after this recession, they need to make permanent changes so they’re prepared for any future trouble in the economy. Identifying areas in which they are struggling, scrutinizing bills and spending habits and prioritizing aspects of their financial lives will help individuals create a proactive financial plan to last the whole year, and beyond.

Next Up: Seven Resolutions