The Financial Rules of Cohabitation

by Andrea Murad

Published April 25, 2013

FOXBusiness

Moving in with a significant other is a big step: both emotionally and financially.

While experts say couples living together should have the same discussions about living arrangements as married couples, they advise unmarried individuals co-habiting take extra financial protections.

Before moving in together, couples should determine if they have shared lifestyles, calculate a budget and agree on who pays from what expenses, says Anna Behnam, an advisor for Ameriprise Financial. Leave emotion out of the decision-making process. “Have a black and white discussion for how you’re going to manage your assets and expenses.”

It’s also important for couples to have an exit plan in case the relationship sours, recommends Randy Kessler, founding partner of Kessler & Solomiany. “You are an individual, even in a relationship.” Agree on the terms of cohabitation and have legal agreements about anything owned together, like houses or cars: any name not on the asset means that person doesn’t have a legal right to it.

For complete article click here: http://www.foxbusiness.com/personal-finance/2013/04/25/financial-rules-cohabitation/#ixzz2RZz16GOn

Oh No Not my Hoopty! Cash for Clunkers!

If you need more information about the government's "Cash for Clunkers" please go to the OFFICIAL U.S. Transportation Department's website about the program. Click here for www.cars.gov

If you took advantage of this program recently click here to find out how Carolina Postal Credit Union can help you save even more money!

If you are thinking about giving up your hoopty...uh...clunker to purchase a new car - be sure and get pre-qualified at your Credit Union first! Members of Carolina Postal Credit Union should click here to apply for an auto loan.

If you have fond memories of your Clunker/Hoopty - please share them by clicking here!

Credit Cards? Nah Credit UNION Cards are the Way to Go!

(June 2009) The New York Times recently published a guest opinion column by two Harvard doctoral students in economics.

Ryan Bubb & Alex Kaufman studied Credit Union Credit Card programs and concluded that they adhere to most if not all standards that the recently-passed Credit Card Act will implement:

"INDUSTRY representatives would have you believe that the Credit Card Accountability, Responsibility and Disclosure Act enacted last month spells the end of the credit card as we know it. President Obama’s proposal last week to create a Consumer Financial Protection Agency to enforce the law has increased the industry’s concerns.

But the example of cards issued by credit unions puts the lie to these claims. Credit unions largely conform to the new rules already, while profitably maintaining the basic features that users know and love."

For the full, informative article please click here! Thank you, Bubb & Kaufman!

CPCU & CUNA Celebrate their 75th Anniversary

Why Credit Unions Rock! thanks to NCBA !