Long Term

  • Adjust your routine as life changes

    As your relationship matures and you become more interdependent, it might make sense to change up the way you handle your money through the years. Don't feel like you have to stick with the same method that worked best when you first combined finances.

  • Check your beneficiary designations

    Make sure you update any retirement accounts such as 401k plans or IRAs, as well as life insurance and any other asset you own that allows you to designate a beneficiary to include your child as a contingent beneficiary after your spouse.

  • Continue to monitor the amount of student loan debt against your future potential earnings

    To avoid feeling overwhelmed by student loan debt once you graduate, try not to borrow any more than you could reasonably expect to earn as your first year's salary using your new degree. In other words, if you expect your post-college job to pay $50,000, then your total student loan debt should not exceed $50,000

  • Don't absorb raises into your spending

    When you are awarded a raise at work, raise your savings level to at least half of the amount your paycheck increases.

  • Keep an eye on your history

    Continue to obtain your free report copies on an annual basis. Keep in mind though that every time you have a report pulled, it shows on your report and this can have a derogatory effect on your score. Try to stick to just annual checks unless you're concerned about identity theft.

  • Keep an eye on your history

    Continue to obtain your free report copies on an annual basis. Keep in mind though that every time you have a report pulled, it shows on your report and this can have a derogatory effect on your score. Try to stick to just annual checks unless you're concerned about identity theft.

  • Keep open communication

    Keep talking about money even as you become comfortable with the routine that works for the two of you. One partner may be more inclined to take care of the money, but make sure you both stay in the know through the years.

  • Keep reviewing where you're spending

    As life changes, so will the things you want and need to buy. Make sure you don't replace one bad spending habit with another and keep living within your means.

  • Keep saving for the long-term

    Making a career change, especially when it's risky or involves a substantial cut in pay, can derail long-term savings for a short period while you're getting on your feet. As soon as you get going on the new path start saving again to secure a financially safe future.

  • Keep your beneficiary designations current

    When you establish retirement accounts such as a 401k or IRA, you are asked to name a beneficiary—that is, the person who would receive the account if something should happen to you. Make sure that the person you chose is still the person you'd want to receive the account as you go through life's changes. If you've gotten married, divorced, had children or lost family members, you may need to change your beneficiaries to stay current with your wishes.