5 Money Tips for Seniors Facing Financial Difficulties

5 Money Tips for Seniors Facing Financial Difficulties

Gas, food, and utility bills all rise in cost while most seniors live on a fixed monthly income that does not increase. Even seniors who planned well for their retirement can easily find themselves facing financial problems. Fortunately, there are options out there for seniors to help keep their finances from spiraling out of control.

Senior Discounts

Many businesses provide senior discounts, but do not offer them unless requested. Seniors should always ask if there is a senior discount before making any purchase, whether it is getting a haircut or renting a motel room. Senior discounts often cuts costs by 10 – 50%. Little day-to-day savings can add up to a lot of extra money each month. Cutting your everyday costs can help free up extra money for bills or medications.

Join the AARP

The AARP offers numerous discounts for members and resources to help with senior financial planning. Additionally, the AARP offers a free tax preparation for seniors that helps them get a better tax return. One word of caution, the AARP is a consumer-based agency and does try to sell products to members. AARP discounts should only be used for products and services that seniors already plan on purchasing.

Consider a Reverse Mortgage

Homeowners over the age of 62 may want to consider a reverse mortgage. A reverse mortgage is when a bank pays you for the equity you have in your home. In order to qualify, you must either have no existing mortgage or be able to pay off your existing mortgage with the funds from the reverse mortgage. Reverse mortgages do not have to be repaid until the homeowner moves or passes away.

Government Assistance

Besides HUD, there are many other government programs available to help seniors with financial troubles. The Low-Income Home Energy Assistance Program (LIHEAP) provides grants to qualifying seniors who have trouble with their utility bills. Seniors should also check with their utility providers to see if they offer senior discount plans. The USDA’s Supplemental Nutrition Assistance Program (SNAP) helps low-income families of all ages with food costs. Individuals who are not eligible for Medicare coverage can apply for state sponsored Medicaid coverage to offset their healthcare costs.

Get Financial Planning Help

Ideally, seniors should not have to live from check to check each month. Getting financial help with setting up a budget and putting away a little extra money each month for emergencies is a wise precaution. Seniors who cannot afford to hire a professional financial planner should consider asking their children for help or checking senior resources like the AARP website for financial planning assistance.

The worst thing anyone can do is to wait until a financial difficulty becomes a huge problem. Seniors who have live on a fixed income have to be especially careful to address problems early because they often don’t have the ability to earn extra money. Preparation and utilizing available resources goes a long way towards preventing financial disaster.

About the Author: Tony S. is a full-time writer, blogger, and graphic designer. He enjoys writing about finance, technology, and many other niches and has recently made contributions to

Developing Good Money Habits

Developing Good Money Habits

In the face of some of our country’s toughest economic times, we are forced to get back to the basics of imagination and creativity. Here are a few tips to getting your personal finances under control, while establishing habits to save money and create savings for your future.

Put Your Household on a Budget

  • First, determine how much you have been spending in categories such as food, utilities, entertainment, auto expenses, school and work lunches, childcare, etc. List the mandatory items before luxury or entertainment.
  • Next, take a realistic look at your take-home income from all sources
  • Now set up a spreadsheet (Excel is a great tool for this) reflecting your monthly income, actual expense categories and see if this is leaving you money for emergency savings, vacations, school tuition, etc.
  • Set up a budget column, filled in with an ideal cap on each expense category and a minimum contribution to your savings and goal categories each month.
  • Fill in what you spend in the “actual” column and see how it compares to the budget column each month. Keeping track of your household budget will reveal your spending habits, as well as which items you can adjust to bring them into line.

Groceries – Buy Only What You Need

  • Live within your means. Buy groceries for the week, and clean out your fridge before you shop; tossing out wilted or expired foods.
  • Plan out a weekly dinner menu and include your favorite staples on the grocery list. Buy only the freshest ingredients that you need for your planned meals; they are healthier and your family will enjoy them more.
  • Don’t get lured into bulk purchases just because they are on sale.
  • Save money by choosing from the top and bottom shelves; the more expensive (and usually less nutritious) items will always be at eye level.

Credit Cards

  • Keep your card limits low. Once you have made consistent payments for six months or so, the card companies will usually boost up your limit (to entice you to spend more). Simply call them and request that they lower them back down
  • Cut up cards you don’t need, but keep the accounts open, as they are part of your good credit history.
  • Don’t use your credit cards to buy things you can’t afford; this is where you get into real trouble. Remember that your charges constitute a “loan” and would you really go out and get a personal loan at 18 percent interest?
  • Using your debit card for purchases will remind you to spend what you have and limit impulse buying.

Cut Down on Your Utilities

  • Weather-strip your doors and windows; a ¼ inch gap at the bottom of your front door is the equivalent of a 3” square hole; an escape hatch for your heated or cooled indoor airflow.
  • Most power companies have a plan where they spread your annual cost evenly into monthly payments. You pay the same amount each month instead of getting hit with enormous bills to pay 3-4 months out of the year.
  • Use fans in the summertime as they take less electricity to run than your air conditioning; in extreme heat, your A/C can be set higher while running a fan to circulate the air in warmer rooms.
  • Change your filters regularly; your heating and cooling will be much more efficient and save you money.
  • Cancel your land line telephone; if you use a cell phone then you mostly likely have free long distance, call forwarding and voicemail, etc.
  • Plant shade trees around your home to keep the sun off your windows. Though “desert” landscaping saves watering, it can raise your inside temperature by 10 degrees.

Becoming more aware of your actual spending habits is not only a huge wake up call, but gives you a much greater sense of control. Your wasteful expenditures will be very obvious, as will the solutions. Coming up with ways to save money each month can be a fun and challenging exercise, giving all family members the tools to create their own financial freedom.

Sheila Barnett writes on personal finance and budgeting tips for Financial Calculator, a website dedicated to helping you plan for your personal financial and retirement needs. Her favorite tool on the site is the investment calculator.

Are you due a spending makeover?

The question ‘do I need a spending makeover?’ is one that we should all ask ourselves regularly. New financial products are being introduced, there are always inviting incentives to switch providers and, of course, credit card balance transfer deals such as those to be found here.

Circumstances too might have changed. Saving to buy a house, or a baby on the way, are just two life-changing events that will probably need a bit more financial care and planning.

Any financial overhaul should address debt first. If you are in debt, then the priority is to pay off any loans before starting to save. With savings interest rates so low, clearing debt is certainly the most efficient way of maximising your money’s potential.

If you don’t pay off your credit card bill every month and have accumulated a balance, then you should look at switching to a provider with a 0% rate on balance transfers. This can typically give you 18 months or more to spread over the cost. Remember, there will probably be a balance transfer fee and other fees payable, so be sure to do your research.

If you do have savings, or want to start saving, then keep a very close eye on the interest rates. Many accounts have an introductory bonus, so if you open one of these products then keep a note of when it’s due to expire and be prepared to switch to a better rate.

Fixed term products often offer better interest rates, but make sure you definitely won’t need the money before the term expires, or you could pay a hefty penalty to get hold of it.

If you pay tax, then it makes sense to put your money into a Cash ISA, which allows you to save without paying tax on the interest you earn. You could consider moving money form a normal savings account into a Cash ISA if you don’t have one, but there are limits, currently £5340, on how much you can save each year.

If you aren’t a UK taxpayer, you should fill out an R85 form to prevent tax being deducted from the interest you have earned on your savings accounts.

Any spending makeover should involve a close look at your insurance and protection products. Always compare different providers when it’s time to renew your policies in a bid to find cheaper, but still comparable, cover and be prepared to switch to a better deal.

It’s probably not as inconvenient as you might think. If you’re taking out an insurance product for the first time, always compare products to make sure you get the most suitable and cost effective policy for you.

With soaring gas and electricity costs, utilities should also be regularly reviewed in a bid to shave a few pounds off the cost. Using the same provider for both and gas and electricity and paying by direct debit can both help to cut down the bills.

The biggest outgoing that many of us will ever have is a mortgage. Know your rate and any tie-ins there may be on the mortgage and investigate whether you can find a better product.

Look beyond enticing and eye-catching rates for any fees associated with the product and check which rate it will revert to at the end of any fixed or discounted rate term. You will also need to consider whether or not you want the security of a fixed rate, or to opt for a discounted or tracker rate deal.

This article was written by Sam, a financial writer based in the North-West, UK.

8 Ridiculous Ways People Try to Save Money

8 Ridiculous Ways People Try to Save Money

There’s no shame—in fact, many would say it’s financially wise—to live an inexpensive lifestyle. Clipping coupons, buying items on sale, cooking food at home, bringing the leftovers to eat for lunch at work the next day, and shopping at secondhand stores are all simple and unobtrusive ways to save a lot of money in the long run. The line that differentiates “frugal” from “cheap,” is a thin one, however, and you’d be surprised at just how far people are willing to go to save a few dollars. Here’s a list of especially ridiculous ways people try to save money:

Eating food out of the dumpster. Many people try to justify this by explaining that groceries throw out unsold food products the moment they hit their expiration date, and the dates themselves are quite liberally set so that there is absolutely no chance of consumers eating old food. True as this might be, there are other risks with dumpster-diving that people neglect to consider. The foremost risk is that dumpster divers don’t have any way of knowing the true reason why those food items were discarded. For example, that chicken may have been sitting on the counter at room temperature overnight, and is now no longer safe to consume.

Not turning on the heat in the winter. In the face of skyrocketing fuel prices, many consumers are opting to limit how much they heat their home in the winter. Setting the temperature just cold enough so that you have to wear warm socks and a sweater around the house is reasonable, but a winter jacket and snow pants? Not as much.

Showering only once a week to save soap. No one wants to smell a person who doesn’t regularly shower. Furthermore, the savings are only substantial if you were using expensive soap in the first place. Frugal (and nice-smelling) consumers know to purchase inexpensive shampoos and soaps, and to only use a small amount at a time.

Stocking napkins, toilet paper, and condiments from fast food restaurants. Not only is it stingy, but also it’s theft.

• Spending 40 hours a week clipping coupons. Coupon-clipping was mentioned above as a sensible way to save money, and this still holds true, if consumers are spending only a few minutes each day doing so. Spending 40 hours a week, however, is hardly sensible. Assuming you save $100 clipping coupons over 40 hours, that averages out to $2.50 savings per hour. You’d make more money earning minimum wage at a fast food restaurant.

Eating only oatmeal. Or eating only Ramen. Oatmeal, Ramen, and other similar foods are extremely inexpensive meals (Ramen can be purchased for around 10 cents per pack, depending on a consumer’s geographic location). However, they do not provide nearly enough nutritional value to justify surviving on these foods alone. College students, for example, who subsisted on a Ramen-only diet contracted scurvy because the meal lacked necessary vitamins. Consider instead purchasing inexpensive yet nutritious foods, including fruits and vegetables.

Not using toilet paper at all. You’ll technically save money, but the smell will be infernal.

Spending the whole night searching for a lost stamp. Many consumers fail to consider the opportunity cost of their time; the opportunity cost is the value to a consumer had he or she done something else with his or time, such as working. Hetty Green, one of the first women on Wall Street and known for her extreme miserliness, once spent nearly the entire night looking through her carriage for a lost stamp. She also once traveled thousands of miles to collect a payment of only several hundred dollars.

Mitchell Gavillion recently graduated with a degree in journalism and is currently writing regularly about topics related to saving money. Mitchell has also written about online shopping tips and advice. Some of his online shopping tips were featured on, an online coupon site & blog.

Sound Financial Planning for Your Post-Retirement Years

Sound Financial Planning for Your Post-Retirement Years

America is busily preparing for the expected rise in retirees as more baby boomers exit the work force each year. As such, many of our financial gurus are gearing up to help educate and prepare this segment of our population towards maintaining financial solvency and independence for longer periods of retirement.

Preparing your budget for your post work days is not as easy as it seems. Aside from the fact that you are reaching a more fragile age, you are also losing out on your work which means no more monthly income. This is precisely why many of our more mature population are dreading their retirement years, but financial sites like explain that there is a way for retirees to side step becoming financially challenged in the future. The secret lies on how you prepare for it.

Become Debt Free

Almost all future retirees will have accumulated some sort of debt, whether it is for their home, car, business, or from their credit cards. Experts agree that paying off your debt while you are still employed is critical to ensuring a more secured future. More often than not, many of our retirees money still goes towards paying down their debts, which leaves them with very little to live with. Before your twilight years start to loom ahead, it would be best to carve out a plan to rid yourself of all your debts and make enough room to save a portion of your money towards retirement.

Shop Wisely

Gone are the days when you can still get away with luxurious spending. As you prepare for retirement, it is best to substitute indulgence with longevity and practicality. Invest in things that will retain their value in years to come. Instead of splurging in a hot sports car, opt for a safer car with great gas mileage.

Invest in Insurance

As you look towards your retirement, it will be beneficial to research life insurance policies for 50 and 60 year olds. This type of policy can safeguard and protect your spouse and children in the event of your death.

Save Up for your Future

Money has always played an important role in your life and it will continue to until the very end. Keeping a portion of your monthly earnings in the bank towards retirement is essential to ensuring that you can stay comfortable throughout your non-working years. It is essential to factor in the possibility that you could live for an additional 30 to 40 years after retiring, which means that you should probably save more than you originally budgeted.

Retirement is the time for you to enjoy and reap the rewards of your hard earned labor. Careful preparation is essential to making this possible. By keeping in mind these simple steps, you can face your retirement years with excitement and optimism.

For more great tips from, stop by our website where we offer detailed information on obtaining life insurance over 50. You will also find many personal finance articles to help educate yourself on credit and debt practices that can save you money and help you build a sound retirement plan.

Getting Your Budget under Control

Getting Your Budget under Control

Getting Your Budget under Control

If you are like most people, your budget could use a little tightening; your credit cards need to be locked up, and your debit card could use a rest. The first step to getting your budget under control is to keep track of your income and expenses, so you know exactly how much you are bringing in and how much is going out. You can do this with software, an excel spreadsheet, or just old-fashioned pen and paper. You don’t have to get fancy; just get organized.

Write down or type in all of your monthly expenses: cable, hydro, heat, mortgage, car payments, credit card payments and any other expense you have. Don’t forget to include your life insurance and car insurance payments. If you don’t have life insurance, that should be one of the first things you fix in your budget. Whether you think you need it or not, you should have it to protect your family. There are many life insurance companies in Canada and it is fairly simple to get a quote.

Once you have all of your monthly expenses, work on your weekly expenses. Gas for your car, groceries, dry cleaning, lunch money and any other expenses you have. Add up your weekly expenses to your monthly expenses to get a total.

Now you have to put down all of your income. This includes salary, dividends, investment cheques, trust funds, inheritance and any other income you have. If you get paid bi-weekly, put down a monthly figure. Subtract your expenses from your monthly income and that will give you whatever is left over at the end of the month. If your expenses are more than your income, you need to look at either increasing your income, or decreasing your expenses.

No matter how much money you have left at the end of the month, you can find ways to increase your bank account. Cut down on groceries by growing your own vegetables, or cutting out processed foods. Walk or bike instead of driving. Work out at home instead of going to the gym. Buy clothes that do not have to be dry-cleaned. These are just a few ideas that can save you hundreds of dollars each year.

One of the keys of controlling your budget is to stay organized. Keep files with all of your bills and receipts. Keep all of your insurance policies in one place so you know exactly where to find them when you need them. Be sure to keep contact names and numbers with the policies.

When you can control your budget and save a few more dollars each month, you will have a nice lump sum at the end of the year to do whatever you want with. You can go on a vacation, pay some more principal on your mortgage, pay off credit cards, or put it into an investment, like real estate. Buying a rental property is a great way to build your wealth and expand your nest egg.

Johnny Guyzer, a fresh university graduate, knows the importance of saving money and reducing living expenses so that he may be financially stable in the long run. He also knows that he can save a substantial amount on his life insurance quote and health insurance quote by using an online comparison service to compare quotes offered by multiple insurance providers.

Five Mistakes to Avoid When Looking for Funding For A Start-Up

Five Mistakes to Avoid When Looking for Funding For A Start-Up

With more and more people going into business on their own the pot of money available to start-ups is getting increasingly hard to access. And with the odds of a start-up business failing within five years somewhere in the region of 75% it is clear that most investors and financial institutions are going to be extremely selective when it comes to handing out seed money to start-up businesses.

The main reason that people get turned down when they’re applying for loans is that they make a number of mistakes in the application process. This article will outline the five most common mistakes and how to avoid them.

1. Expecting the Lender to Take all the Risk. This is the single most common mistake in trying to raise funds. Why should someone take a risk on you if you won’t take on any risk yourself? In addition, if you’re not able to raise any funds at all to start this venture, how much faith in you can you really expect? Ideally, start-up investors like to see the borrower putting in between 30% and 50% of their own money.

2. Not Writing A Professional Business Plan. Many loan applicants will look at the business plan as a formality and just another form to be filled in the application process. This is a mistake. The business plan should be written as a document of intent for your business and a plan not just for the lender, but for you. It should be detailed and outline not just the best-case scenario, but also the worst, it should outline what could go wrong and how you intend to avoid that. It should show that you know your market and your competitors and where your business will be in years one, two and three in terms of profitability.

3. Not including Working Capital in the Projections. As part of that business plan and your application you will no doubt outline the property to be leased, the assets to be bought, the costs of improving your lease property and other expenditures to get you started. What many businesses forget is to also include a realistic figure for cash flow for the first few months while you are getting the business on its feet. Again, this is part of the business plan and the ability to admit that the business might not be cash positive for a little while.

4. Not Conveying your Expertise and Experience. Lenders need to know they can put their faith in you, the person running the business. You might have a good idea but have you got the skills to see it through? If you’ve got the skills, make sure you sell yourself. Include a convincing resume and examples of previous work or experience that will be relevant to this business. Also do the same for any other members of your team you might be bringing on board.

5. Don’t Fall to Pieces in the Presentation. Meeting the lender in person will be your only chance to sell the deal. You can either inspire confidence or make them think you’re not someone they want to invest in. First off, don’t forget the basics, like a suit, smart shoes, and a well-groomed appearance. Next, be confident and positive, but don’t be arrogant or over-confident. Try to get across to the lender a clear and articulate summary of what you hope to do with the business. Don’t try and wing it and see how it goes on the day. Practice what you’re going to say and how you’re going to say it.

Fighting Over a Blown Budget? Try eBay Therapy

Arguments about the family budget; maybe they happen during the monthly or yearly budget committee meeting (you are having those aren’t you?); or maybe they happen at dinner just before bed.

Regardless of when they happen or where they occur, these disputes always seem to result in mudslinging worthy of a heated political bout. The accusations are inevitably a variation of the same theme: “the reason we’re short on money is because you blew our budget!”

Time to face it: you two are great together, but you both have terrible judgment. Okay, that’s an exaggeration, but you have to admit that on at least one occasion (seriously, just once?), you have each made a poor purchase.

So in an effort to find a compromise, it’s time to recognize each of your lapses in judgment, and maybe even make back some of the money you spent with eBay Therapy. It sounds crazy, definitely simplistic, but it works quite well.

When the discussion starts to get tense, and the “you blew our budget” comments are about to fly, it’s time to do the following:

1. Stop the argument immediately. No, you’re not going to avoid the discussion, just put it on hold until you can find a compromise. The idea is to start the discussion again only when both of you are ready to face facts: a poor purchase is human, and you both have made at least one.

2. Find your Token. Each of you go find an item that represents one of the worst, most ridiculous purchases (between $50-$100) that you made last year. Make it count, find something you really regret purchasing and have gotten little use from.

3. Open your eBay account. List the tokens: auction style, aggressively priced to sell.

4. Sell the tokens. Add the money back into the budget. Now that you are wondering what’s so fantastic about such a simple idea, let’s analyze what occurs.

Cool Down – First, by moving from argument to token-hunting, you lighten up a heated moment and put a little fun into an otherwise stressful situation. Focusing on this new task gives you both a chance to cool down and avoid saying something you will regret.

Compromise – In addition, you are forming a compromise by admitting that you both have made at least one poor purchasing decision over the last year. According to Jay Slupesky, licensed marriage and family therapist: “sometimes the best solution to a disagreement between partners is to agree on a compromise.”

Each person gives a little on their position and the couple “meets in the middle.” Your tokens provide concrete evidence to the compromise. You each give a little on your position and now that you are on common ground, the discussion can resume on equal footing.

Focus – You limit the scope of the conflict to the point of contention. Unfortunately, financial arguments rarely stay confined to finances.

Mudslinging from other areas of life tends to be brought into play when financial arguments get heated. With eBay Therapy, you focus on the conflict: whether one or both of you blew the budget. Staying focused doesn’t help you prove your side of the argument, but it confines the argument to one topic: finances, and finances alone keep the mothers-in-law out of it.

Liquidate – Look past the argument that got you here and you’ll see another benefit of eBay Therapy: you both made purchases over the years that have real value…to other people! It’s time to start making some spare change off of the trifles that idly sit throughout your home.

So, will eBay Therapy solve all of your problems? Of course not…if you and your spouse are in dire circumstances, it’s time to seek out professionals that will help guide you. But it will help diffuse minor budget arguments.

Nor will eBay Therapy provide cover from an egregious budget violation, such as a new 60-inch LED TV, you’re on your own with that one. But by cooling the situation, compromising with your spouse, and focusing on a common goal, your participation in eBay Therapy is a good step towards a healthy budget and a healthy partnership with your spouse.

This is a guest post by staff writer at PT Money: Personal Finance. Check out the blog to discover more ways to save money, make extra money, and spend money wisely. See the latest review of the best credit card for college.

How Your Parents Money Choices Influence Your Finances

How did your parents manage their money? If you are not sure, chances are good that your parents did not have a strong impact on the way you are living and spending (or saving) money today. However, you may not realize that what your parents did with money really did impact your own lifestyle choices. Take a look at a few scenarios and how they could have impacted your financial future.

Your Parents Did Well Budgeting and Managing

Some parents, especially older parents, managed money very tightly. Credit was not something that they wanted and not being able to buy a home with cash was a sure way to show the world that you did not have the means to manage your money. Money was not wasted on toys, eating out or other things people do today. If your parents taught you to manage money like this, you are likely a saver and satisfied with minimal purchases and needs.

Your Parents Struggled Financially

In some situations, the outcome may be directly the same or different from your parents. For example, if your parents struggled and you had very few toys and new things, you may have resented your family’s struggle so much so that you now spoil yourself with the purchases you make. You may be spending money now, and using credit heavily, to fill in that void.

On the other hand, some children knew that their parents were struggling and thus they did not want to see themselves in that same situation, especially with their own children. This leads to the more frugal minded person who wants to spend less so that he can have more in the long run and never be in a financially bad situation like his parents.

Your Parents Spent Money

On the flip side is the parents that liked to spend. If your parents spent money easily and you received the things you wanted, you may have the same lifestyle now. You may be using credit cards quite heavily, even if you did not know that your parents borrowed money to manage their finances. You want to live and give the same style of life (having what you want) to your children.

Budget Families Are The Best

The smallest percentage of families is those that taught their children the value of a dollar. These people worked very hard to earn what they had and made sure their children knew it. They worked out a budget each month and the kids knew there was nothing extra. You may have been given an allowance as a way to teach you how to manage money, or encouraged to get a job at a young age.

The way your parents managed money is almost always a direct reflection on the way you manage your money. You can break the mold though. To do so, you need to make your own decisions on how to manage money properly, and pass on the right methods to your own children as well.

Three Reasons to Join Finances with Your Partner

Three Reasons to Join Finances with Your Partner

At a glance, you would think that a couple that keeps its finances separate would have less to fight about when it comes to money issues. Research has indicated that just the opposite is true. Keeping all of a couple’s finances separated can lead to more misunderstandings in the long run.

Separate Accounts can Mean Less Communication

Many couples in the United States today are comprised of two people with their own careers. In most cases, these professionals prefer to manage their own finances without combining them with their partner’s finances. Each partner is more comfortable having full control of his or her money, and they feel that there is no reason to mix the money together. This system is fine for everyday expenses, but it can become a problem when the couple has different ideas of how the money should be spent, especially when considering large joint purchases.

When both partners maintain their own finances that were established before becoming a couple, there is a tendency for each of them to feel that they do not need to discuss financial decisions with each other. This lack of communication about money can lead to huge misunderstandings about different financial priorities. It can also lead to a certain level of dishonesty when one partner does not want to fully disclose his or her spending habits. Keeping the money separate creates an opportunity to cut one another off from the full financial picture on either side, which can create uncertainty and stress in a relationship.

Problems with Big Purchases

Some of the purchases that a couple will eventually make will require input from both of the partners. For example, buying a house usually requires that a couple pool their resources so that they can afford the type of house that they would prefer to live in. It can be difficult to present combined assets when you are looking for a mortgage loan if your assets have been kept strictly separate. There can also be a problem if one partner has been saving money for a smaller house than the other partner has been saving for.

A Compromise Could be Best

Economists and relationship therapists suggest that couples combine some of their finances into a joint account to cover household needs. Each partner could agree to contribute a certain amount to the joint fund each month so that all of the basic needs are met. The couples would have to discuss their joint account and make mutual decisions about their spending, but they could also maintain their separate checking accounts if they prefer. The separate accounts would not hold as much power over the relationship because the joint account would provide everything both partners need.

Jessica Bosari writes for the money-saving site,, a site devoted to helping people lower their expenses, find great bargains and get better at saving money. Pay Billeater a visit for more money-saving tips!

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