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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

10 Financial Tips for Newlyweds

  • If you have a credit card balance, pay as much as you can above the minimum each month.
  • If you receive gift money, a bonus, a second job or a tax refund, use this to pay off your debt. You can even make micropayments multiple times during the month to pay off your balance faster. Eat a meal at home and immediately apply the money you saved to your credit card balance.

  • Before the first bills come in, decide who will pay them and when this will take place.
  • If you have separate accounts, know which account pays each bill. Also notify creditors of your name change and new address.

  • Reduce your debt-to-available credit ratio.
  • This will help improve your credit score. Your monthly debt, including your mortgage, should not exceed 35% of your gross income.

  • Each spouse should have a credit card in his or her own name to build an individual credit score.
  • Keep that card for a long time. Use the card for several purchases each month and pay the bill in full immediately. Building a long term payment history with one or two credit cards is an important factor in your credit score.

    --By Bill Hardekopf

    Bill Hardekopf is chief executive of LowCards.com, which compares and rates more than 1,000 credit cards. He is the co-author of "The Credit Card Guidebook."

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