A Financial Quiz for Couples

Successfully sharing money with another person doesn't happen automatically. Even the best of partners need to establish a system for keeping up with day-to-day as well as long-term spending issues. Whether you are recently married for the first time, remarried or have been together for many years, it's important to have compatible answers to the following questions.

Where do you get cash in an emergency?
Experts advise setting aside three to six months' worth of expenses into an account that will pay you interest but that you can easily tap into when you need cash quickly.

What sorts of purchases are OK to charge on a credit card?
If you haven't already, determine how much and what type of credit is acceptable to both of you. Each member of a couple should have credit separately in order to build a personal credit history in the event it may be needed in the future.

Will you give to causes you care about?
When you make donations to a charitable organization like ours, you're giving away more than your money. You are, in a sense, transferring one of your most precious assets--your values. To discover the many ways you and your spouse can support our organization, just give Gustavus Adolphus College a call.

How much are you saving for retirement?
To make sure you will both be able to live comfortably in retirement, it is important to make sure you are saving wisely. The earlier you start saving, the better. Don't overlook the multiple benefits of employer-matching contributions, too.

What will happen to your assets when you die?
Creating an up-to-date will is the first step toward disposing of your estate. Make sure your family and your loved ones are taken care of after you're gone.

Please call Jackie Peterson at 507-933-7543, or e-mail us at jpeters9@gustavus.edu, for more information.