Tidbits® - February 2008
Credit insight from Credit.com
Welcome to the Credit.com newsletter!
In this issue, we're sharing Valentine's Day financial tips to stop
money arguments in your relationship. Plus, what to do when your significant
other has a debt problem and how to save on homeowner's insurance.
Quick Tip
With talk of recession all over the news, now is a good time to get
out of debt. Carrying debt could get expensive with rising rates and
could be a burden during a job loss or mortgage reset.
Get a free debt help consultation online: http://www.credit.com/r/dcl/
Love & Money
First comes love, then comes marriage, then comes a mortgage…and
credit cards…and credit reports! Money is a third-wheel in many
modern relationships. And if couples are not careful, money issues can
also
lead to a lot of arguments. Working together to achieve and maintain
financial health can be a powerful step forward for a couple. We even
have an easy-to-use worksheet to help you have the “money talk” if
you
haven't already: http://www.credit.com/life_stages/marriage_family/The-Money-Talk.jsp
In honor of Valentine's Day this month, we're sharing no-stress money
and credit tips for couples:
1. Keep separate accounts
A simple way to manage your money in a relationship is to keep individual
checking and credit card accounts open. Manage shared financial goals
and costs by making automated deposits into a shared savings or checking
account. Plus, keeping your own accounts helps ensure you both have
healthy
credit histories.
2. Know your credit
It is a myth that marriage ties together your credit reports. Only joint
and co-signed accounts will appear on both records; everything else
remains individual. Make it a goal for both of you to check all three
of your credit reports and credit scores once or twice a year: https://www.credit.com/r/credit_report_monitoring/
3. Get out of debt…together
Being in debt can cause conflict in your relationship and hardship to
your financial bottom line. It can also damage your credit. Work
together to create a plan for becoming debt-free. If you need help,
you can use this link for a free consultation from our debt experts:
http://www.credit.com/r/dcl/
4. Set fun savings goals
Encourage saving as a couple by setting specific goals, such as a vacation
in the Caribbean or a down payment on a house. When you're working
together toward a common goal, saving won't sting so much. Opening
a free high-yield savings account online means you'll earn a healthy
3.65% APY each year.
5. Invest in your relationship
Constantly fighting about replacing old appliances or how badly the
house needs to be painted? Stop the arguments by taking action. Apply
for a Citi Flex Line of Credit today and finance the change you want
to see in your relationship: http://credit.com/r/Citi-Flex-Line-of-Credit/
Anti-Valentine's Day Bonus Tip
Has your relationship recently gone bad? Break-ups and divorce can have
major negative consequences on your credit. Because divorce decrees
don't end responsibility for shared accounts, you could be stuck with
credit damage from your ex if you are not careful. Jilted lovers
have also been known to commit identity theft to get revenge. Click
here for tips on protecting your finances during a break-up:
http://www.credit.com/r/tidbits_divorce_survival_guide/
What money conflicts do you have in your relationship? Do you have a
great tip for managing shared finances? Share your stories and questions
with us at tidbits@credit.com
Ask John
Should you be concerned about marrying someone with a credit or debt
problem? How can their credit impact your own standing? John Ulzheimer
helps one couple with debt issues.
See John's advice: http://www.credit.com/r/tidbits-vol29/
On the Blog
Are you paying too much for homeowner's insurance? Our CreditBloggers.com
expert has five tips to reduce your insurance bill
Save on Homeowner's Insurance: http://www.creditbloggers.com/2008/01/are-you-over-pa.html
Quote of the Month
"For two people in a marriage to live together day after day is
unquestionably
the one miracle the Vatican has overlooked."
- Bill Cosby
Tidbits® - February 2008
About this newsletter
This information has been compiled and provided by Credit.com as a service
to the public. While our goal is to provide information that will help consumers
to manage their credit and debt, this information should not be considered
legal advice. Such advice must be specific to the various circumstances of
each person's situation, and the general information provided on these pages
should not be used as a substitute for the advice of competent legal counsel.
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