Engaged? Here Are 3 Financial To-Dos
Money Most-Dos as a Newly Engaged Couple
Did you just get engaged or are you thinking about proposing? If so, congratulations! Fun times are ahead. While you are your loved one may still be swooning in each other’s arms, it’s important that you don’t forget about important money moves to make. After all, a great way to show your commitment to each other is to be open and honest about your financial goals. Here are a few financial to-dos as a newly engaged couple.
- Share Information
When someone relies on your income to maintain their quality of life, it’s wise to be clear and open about finances. Talk to each other about your accounts, debts, and ensure each other know where all bank accounts, investments, and more are held. You should also know where non-financial paperwork is kept, such as insurance policies, birth certificates, and other important documents.
- Insure the Rings
It’s likely that the engagement ring is worth a couple (or a few) months of income. With such a valuable and meaningful purchase comes the need to insure the investment. Remember to insure the engagement and both wedding rings so that they are properly protected. Talk to your homeowners insurance agent who can help.
- Consider Joining Insurance Forces
As you couple up, it’s worth considering making the most of your insurance policies. If you both have separate auto insurance, for example, consider joining policies under one insurer and you may be able to save money. What’s more, it will make renewal time a snap.
For all of your insurance needs as a couple, talk to the professionals at Little & Sons Insurance Services, serving Banning and neighboring cities in California.