After You Get Married, Make These 5 Moves With Your Money
Congratulations! You’ve said your vows. You’ve thrown that bouquet (who knew Grandma could jump like that?). You’re even rocking a nice tan from your honeymoon.
Now married life really begins. Like it or not, your finances are a major factor in your marriage. According to Dave Ramsey, 86% of couples who got married in the last five years started out in debt.
It’s OK. Take a deep breath. We’ve put together a quick challenge for married couples to get your finances in shape for your happily ever after.
Do you accept the challenge? If so, say, “I do” (again).
1. Launch Your Joint Real Estate Empire With $500
It’s no secret: Investing is a great way to grow your money. But that’s something only wealthy people do, right?
You don’t have to be Warren Buffet to get started with investing. In fact, you can get started with just $500, using a company called Fundrise.
Through the Fundrise Starter Portfolio, your money will be split into two portfolios that support private real estate around the United States. You’ll pay a 0.85% annual asset management fee and a 0.15% annual investment advisory fee.
And you don’t have to be the landlord — Fundrise does all the heavy lifting. As tenants pay their rent, you can earn money through quarterly dividend payments and potential appreciation of the property.
It’s a great way to get started in the world of investing together!
2. Secure Up to $1.5 Million in Life Insurance; Rates Start at Just $20/Month
Have you thought about how your family would manage without your income after you’re gone? How they’ll pay the bills? Send the kids through school? Now’s a good time to start planning for the future by securing a life insurance policy.
You’re probably thinking: I don’t have the time or money for that. But your application shouldn’t take more than about five minutes — and you could leave your family $1.5 million with a company called Bestow.
Rates start at around $20 a month, and you can change or cancel your plan at any time.* Plus, the security of knowing your family is taken care of is priceless.
If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam, pushy sales calls or even getting up from the couch, get a free quote from Bestow.
3. Ask This Website to Pay Your Credit Card Bill This Month
If you have credit card debt, you know. The anxiety, the interest rates, the fear you’re never going to escape…
And the truth is, your credit card company doesn’t really care. It’s just getting rich by ripping you off with high interest rates. But a website called AmOne wants to help.
If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.
The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates (AmOne rates start at 2.49% APR), you’ll get out of debt that much faster. Plus: No credit card payment this month.
AmOne won’t make you stand in line or call your bank, either. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could help you pay off your debt years faster.
4. Stop Giving Your Car Insurance Company Extra Money
Have you been paying your car insurance bill to the same old insurance company for years? You’re probably paying too much.
Over the years, your life has probably changed — and so has the value of your car. Plus, insurance companies you might have looked at years ago are constantly changing their pricing. One easy way to save on car insurance is by shopping and comparing rates twice a year. But that sounds like a pain.
Fortunately, a service called Gabi will do it for you, and you don’t even have to fill out any forms. Simply link your insurance account and provide your driver’s license number, and it’ll go to work.
Gabi says it finds an average savings of $865 per year for its customers.
It offers a true apples-to-apples comparison at the same coverage levels and deductibles you currently have, and instantly compares rates from up to 20 providers to find you the best deal. Once you sign up, you never have to shop again. Gabi’s software has your policy on file and keeps on monitoring for savings as your life changes.
5. Get Checks in the Mail When You Furnish Your New Married Life
With your new married life comes lots of new married stuff (and marital bliss, of course).
There’s new furniture to buy, new kitchen accessories — you name it. And we know of a way that you can get checks in the mail in the process.
A free browser extension called Rakuten has the hookup with just about every online store you shop, which means it can give you a kickback every time you buy a new blender on Amazon — or even book that flight for Thanksgiving with the new in-laws.
We talked to Colleen Rice, who says she uses Rakuten for things she already has to buy, like rental cars and flights. Since she started using Rakuten, she’s received checks in the mail totaling $526.44 — for doing nothing.
It takes less than 60 seconds to download the free extension, create a Rakuten account and start shopping. All you need is an email address, then you can immediately start shopping your go-to stores through the site.
Plus, if you use Rakuten to earn money back within the first 90 days of signing up, it’ll give you an extra $10 on the first check it sends you.
Talk about money for nothing.
*Bestow: Policies are issued by Bestow Life Insurance Company, Dallas, TX on policy form series BLI-ITPOL. Bestow Life Insurance products may not be available in all states. Policy limitations or restrictions may apply. Not available in New York. Our application asks lifestyle and health questions to determine eligibility in order to avoid requiring a medical exam. Prices start at $10/month based on an 18-year-old male rated Preferred Plus NT for a $100k policy for a 10-year term. Rates will vary based on underwriting review.