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Now That You Have Said "I Do!" Let's Build Up Your Finances

by Brooks & Davis Real Estate Firm, LLC

So you have said "I do."

Remember when you spoke those words at your wedding? Perhaps it was in front of family and friends. Or maybe it was just the two of you on a beach or in front of a justice of the peace.

At that moment, you probably weren't thinking about savings and checking accounts, stocks and other investments or credit scores. You were thinking, "This is the happiest day of my life."

Well, not so fast.

While being married has put you in a state of bliss, you need to come down off of your cloud for a minute and have a conversation with your partner about finances. In fact, I'd love to help you and your partner secure a solid and happy financial future together, now and forever. Just follow these tips.

Steps to Build Up Your Finances

1. Review bank accounts, credit scores and credit card statements.

Gather your bank statements, credit scores and credit card statements and compare notes. How much money do the both of you have? What are your credit scores? What are your credit card balances? Review all of this information. And if one of you has a lower credit score than the other, it's a good idea to create a plan to raise the credit score. How? First, stop using your credit cards! Second, double your monthly payments, if you can. It's important that you and your partner are on the same page when it comes to finances.

2. Create a monthly budget, and stick to it.

Creating a budget is super easy. You can either grab a pen and paper or use a software program. After you've created your budget, review it together and make necessary adjustments. See where you can cut back. If you can't adjust the figures, make sure you stick to your monthly budget, no matter what.

3. Review investment portfolios monthly.

If you have investment portfolios, sit down with your financial advisor/manager and discuss how you can make changes to increase your investments and/or diversify. For example, if you've been playing it safe, you may want to look into more aggressive stocks. On the flip side, if you've been too aggressive, you may want to rethink your strategy and be more conservative. Your financial manager will help you choose the best investment options.

4. Compare salaries and know when to ask for a raise.

How much do you make? If you've been working your way up the company ladder and earn a healthy salary, congratulations! But if you've been working and haven't received a raise or don't think you've received a raise that is worthy of you and your work, you may want to approach your boss and ask for a raise.

5. Choose a monthly amount to deposit into a separate savings account.

Now, more than ever, it is important to have an emergency fund. Because you don't know what could happen now or in the future. You or your partner could get laid off from work, permanently lose your job, need to take care of an aging parent or sick child, or experience another life-altering event. Establishing a monthly amount to be deposited into a savings account that is not to be touched is a must. You may not want to do it, but you need to do this, now.

6. Live within your means.

Your mom and dad may have told you to live within your means. Whenever you're about to purchase something, ask, "Do I need or want this?" If you don't need (fill in the blank), don't buy it, because you may have buyer's remorse or you could find a better deal at another store or online; keep your options open.

7. Start investing.

If you don't have an investment portfolio, you and your partner may want to hire a financial advisor. It's never too late or too early to invest.

8. Get a side job or start a business.

Okay, so you and your partner work 40 or more hours per week and may not have time for a side job. However, you can earn extra money doing what you love. You may find that both you and your partner have a knack for running your own business. You could eventually quit your day jobs.

9. Sell your stuff.

Now that you're married, go through all of your stuff and get rid of what you haven't used in a year or more. Toss out anything that is worn out, but sell everything that is gently used..

10. Keep the lines of communication open.

Most important is to keep communicating with one another. Do not shut down if your partner makes a mistake. Sure, you may not be happy about it, but it's not the end of the world. Calmly speak about the importance of creating a solid financial future together. If you need help, seek counseling from a marriage or financial counselor or both. Whatever you do, do not throw your marriage away at the first bump you have. It won't be 100 percent perfect all of the time.

To secure a solid financial future, you and your partner need to be willing to be honest about finances and hopefully were on the same page before you got married.

Having a solid financial future together is closer to possible than you think.

Excerpts from Amandah Blackwell

June 2015 Events

by Brooks & Davis Real Estate Firm, LLC

June 2015 Events

June 9th

Tues.

Discovery Green Events

 

Kayak on Kinder Lake… 11 am – 9 pm

Circus Arts… 5:30 pm – 7:30 pm

 

Core Focused Yoga… 6:30 pm – 7:30 pm

 

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

 

June 10th

Wed.

Discovery Green Events

 

Kayak on Kinder Lake… 11 am – 9 pm

 

Zumba®… 6:30 pm – 7:30 pm

 

Miller Outdoor Theatre … Hairspray Jr 11 a.m.

 

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

 

June 11th

Thurs.

Discovery Green Events

 

Kayak on Kinder Lake… 11 am – 9 pm

 

Sounds Like Houston! Thursday Concerts presented by UHD… 6:30 pm – 9:30 pm

 

Parkour… 6:30 pm – 8:00 pm

 

Miller Outdoor Theatre … Hairspray Jr 11 a.m.

 

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

 

 

June 13th

Sat.

Discovery Green Events

Blissful Warrior Yoga… 9:00 am – 10:00 am

 

 

 

Young Writers Workshop… 10:30 am – 11:30 am

 

Recycling Saturdays… 11:00 am – 2:00 pm

 

Kayak on Kinder Lake… 11 am – 9 pm

 

Texas Black Expo… 4 pm – 10 pm

Eight14 Jewelry Trunk show…  12noon – 5 pm

 

Sambuca Restaurant Live Music from 8:15 pm – 1:00 am

 

Miller Outdoor Theatre … Hairspray Jun 12th and 13th 8:15 p.m.

 

 

June 14th 

Sun.

Discovery Green Events

Kayak on Kinder Lake… 11 am – 9 pm

Discovery Hoop Dance... 10:30 am – 11:30 am

June 15th

Mon.

Discovery Green Events

Kayak on Kinder Lake… 11 am – 9 pm

 

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

June 16th

Tues.

Discovery Green Events

Kayak on Kinder Lake… 11 am – 9 pm

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

June 17th

Wed.

Discovery Green Events

Kayak on Kinder Lake… 11 am – 9 pm

 

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

June 18th

Thurs.

Discovery Green Events

Kayak on Kinder Lake… 11 am – 9 pm

Sambuca Restaurant Live Music from 7:45 pm – 11:45 pm

Miller Outdoor Theatre ExxonMobil Summer Symphony Nights 8:30 p.m.

June 19th

Fri.

Discovery Green Events

Kayak on Kinder Lake… 11 am – 9 pm

Sambuca Restaurant Live Music from 8:15 pm – 1:00 am

Miller Outdoor Theatre… Houston's Juneteenth Celebration…7 p.m.

 

June 20th

Sat.

Discovery Green Events

Blissful Warrior Yoga… 9:00 am – 10:00 am

 

Young Writers Workshop… 10:30 am – 11:30 am

 

Recycling Saturdays… 11:00 am – 2:00 pm

 

Kayak on Kinder Lake… 11 am – 5 pm

 

KPRC 2 Blood Drive … 2:30 pm – 7 pm

 

Discovery Green Flea by Night presented by Green Mountain Energy… 6 pm – 10 pm

 

Sambuca Restaurant Live Music from 8:15 pm – 1:00 am

 

Miller Outdoor Theatre … ExxonMobil Summer Symphony Nights 8:30 p.m.

 

June 21st

Sun.

Discovery Green Events

 

Kayak on Kinder Lake… 11 am – 9 pm

 

Discovery Hoop Dance... 10:30 am – 11:30 am

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

June 22nd

Mon.

Discovery Green Events

 

Kayak on Kinder Lake… 11 am – 9 pm

 

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

 

June 23rd

Tues.

Discovery Green Events

 

Kayak on Kinder Lake… 11 am – 9 pm

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

 

June 24th

Wed.

Discovery Green Events

Kayak on Kinder Lake… 11 am – 9 pm

 

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

June 25th

Thurs.

Discovery Green Events

 

Kayak on Kinder Lake… 11 am – 9 pm

 

Discovery Hoop Dance... 10:30 am – 11:30 am

Sounds Like Houston! Thursday Concerts presented by UHD… 6:30 pm – 9:30 pm

 

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

 

June 26th

Fri. 

Discovery Green Events

 

Kayak on Kinder Lake… 11 am – 9 pm

 

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

 

Miller Outdoor Theatre … ExxonMobil Summer Symphony Nights 8:30 p.m.

 

 

June 27th

Sat.

Discovery Green Events

 

Blissful Warrior Yoga… 9:00 am – 10:00 am

 

Young Writers Workshop… 10:30 am – 11:30 am

 

Recycling Saturdays… 11:00 am – 2:00 pm

 

Kayak on Kinder Lake… 11 am – 5 pm

 

Sambuca Restaurant Live Music from 8:15 pm – 1:00 am

 

Miller Outdoor Theatre … ExxonMobil Summer Symphony Nights 8:30 p.m.

 

 

June 28th

Sun.

Discovery Green Events 

Kayak on Kinder Lake… 11 am – 9 pm

 

Discovery Hoop Dance... 10:30 am – 11:30 am

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

 

 

 

June 29th

Mon.

Discovery Green Events

 

Kayak on Kinder Lake… 11 am – 9 pm

 

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

 

June 30th

Tues.

Discovery Green Events

 

Kayak on Kinder Lake… 11 am – 9 pm

Circus Arts… 5:30 pm – 7:30 pm

 

Sambuca Restaurant Live Music from 7:15 pm – 11:00 pm

 

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Brooks & Davis Real Estate Firm, LLC
2600 S Loop W, Ste 310
Houston TX 77054
713.665.8329

 

Michael G. Davis (Designated Agent) - info@brooksanddavis.com
Brooks & Davis Real Estate Firm, LLC - (OSP)
2600 S Loop W, Ste 310
Houston, TX 77054
713.665.8329