Personal Finance Mistakes by Newleyweds - as part of the expert series by GeoBeats. Many people that are young are getting married or getting prepared to get married are worried "well what are the mistakes that I can make?" One of the first things is not talking about money before they get married so they both understand each other's perspective. Another one is once they do get married, they do not put together a personal financial goals. In other words, what are their goals for retirement? What are their goals for travel? What are their goals for children? etc. Do they want to buy a home? When do they want to buy a home? So laying out those personal financial goals are very important so that they are both on the same page. Another thing is not putting together a budget. In other words, another way to call a budget is a spending plan. Some people find it easier if they call it a spending plan versus a budget. But the other thing is with putting together that plan, is not putting together a savings plan. And the savings plan should be let's pay ourselves first so we are prepared for the future. And a final thing would be, sometimes they just go into denial, and ignore the credit card debt. And that is probably the biggest thing that could impact the relationship.
