January 8, 2012

Premarital Financial Counseling: Should we use technology in Money Matters?

By admin in Money Before Marriage Lesson

More than likely one of you if not both of you are already using technology to some degree for your money matters but can it be used in premarital financial counseling? As you are planning for your marriage and money matters, it can only help you to utilize technology. You want to make sure that you incorporate whatever tools you feel necessary in order to do the best job you can. The tools you can use: 1) Direct Deposit of paycheck is first. I am saying this one is first because direct deposit can give you access at least 24 hours prior to your funds than if you actually went to the bank to make a deposit. Some banks only release a certain amount of money on the first day and then the remainder on the next business day. With direct deposit, it allows you to get bills handled sooner and some of those last minutes items you waited on. 2) Automatic Deductions - This comes in very handy if you decide that you'd like to contribute a regular amount to your savings account. If you are employed outside of the home, check with your employer to see if you can add this feature. You'd have to set it up through them. 3) Budgeting programs - These can be a benefit if they are user friendly instead of writing it out long hand. Take some time and research what programs are available and what they offer. There's nothing like purchasing a program and it doesn't do everything you want it to. 4) Banking online - This one is strictly a personal call. If you are person that is very hands on, you may want to be able to bank online so you can view accurate records for that day. Do not forget what your password. *You also want to find out if there is a fee for this. Some don't but that doesn't mean all of them. Be sure to keep a paper trail when it comes to your money and marriage. Someday the paper trail may very well save you from paying a bill or creditor twice.

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