Sheryl Garrett Quotes (23 Quotes)

Newlyweds make decisions that affect each other. Young couples need to think about the unthinkable. If you have assets that you want your spouse to keep if you die, you need insurance.

Don't leap until you know exactly what you can afford and how you'll afford it. Stretch, but don't dream impossible dreams.

I like to use cash, and I recommend it to others. I'm a big fan of envelopes and putting aside cash for specific items. If the 'dining out' envelope has only 12 left near the end of the month, you know it's time to stay home and open a can of soup.

Parents seek to raise their children to be self-sufficient adults. If children can vote, drive, order a drink and go to war, why do parents feel obligated to carry the full financial burden of their college education

Many young couples are so busy being romantic that they forget to talk about anything practical like personal finance. Money isn't a romantic subject, but marriage should be seen as entering into a financial as well as a romantic partnership.

Try to remove as much emotion as possible from the housing decision. When considering a house, go through it room by room and make a list of repairs that need to be done immediately and then add things you'd like to do if money were no object. Be cautious and do the math.

There are significant tax benefits to being married. In most cases, a married couple will pay less tax if they file jointly. The marriage penalty has been substantially reduced and generally isn't an issue until the combined income is 250,000.

I'd want to be sure that I've got adequate insurance for the sake of my loved ones.

Partnerships between industry and education are so very important in the lives of our youth. With this program, students will have a wonderful opportunity to gain practical knowledge and experience in careers pertaining to the automotive industry.

The president of the college is suspended since Aug. 24 and I don't have a communication from the school

Give your student the opportunity to earn money while under your roof. Agree on a reasonable split of your child's earnings--save most for school, but don't forget some fun. Allow your child to make decisions on how to spend some of the money on a car or a trip to Europe. You want to start early so you can guide your children and have some influence over their decisions.

Maybe it's a reaction to going overboard in the 1980s and 1990s, but I sense a lot of people are moving away from materialistic things (and) toward more thoughtful and meaningful holidays.

A good family-law attorney or a good certified divorce financial analyst or certified financial planner is going to help you measure the value of the asset you think you want to keep.

I think people are reluctant to talk about money because there's always a scorecard--a bank statement, a credit report, a pay stub--and if you screw up, it's right there. But with sex, it's easy to be Don Juan or Donna Juanita. I think the record of past transgressions in black and white is why money is our last taboo.

There are about 1,100 laws that apply only to married couples that more than make up for the marriage penalty.

Lending practices have become so aggressive that many people are qualifying for mortgages above and beyond the old guidelines. I think the total house expense shouldn't exceed 28 of net income, and the mortgage plus other debt such as a student and car loan shouldn't be more than 36 of gross income.

For most of us, it took years to develop bad financial habits, and it will take at least the same amount of time to create the good habits we want. People spend more time planning their annual vacation than discussing their personal finances. That's not healthy, especially for newlyweds.

Don't fall for the pitch '15 months is as good as cash'even if you have lawn furniture in your living room. Retailers know that most customers won't pay in full within 15 months, and they'll be charged interest from day one. So, if you sign up for such a plan, be sure to put one-fifteenth of the full payment in a special account each month and pay in full at the end of the interest-free term.

This way, both spouses are kept in the loop, and there are no secrets. There's no blame, no shame. It's taking your financial pulse Did we meet our goals What can be done better You don't want to beat each other up--you want to make the finances work better.

Both spouses need to be on the renters or homeowners policy.

Bailing your kids out of a self-inflicted financial mistake is going backward. A credit card can teach a kid when to stop spending. The lesson will be lost if parents keep bailing the student out.

There's nothing finite or tangible about an electronic transfer or use of a credit card. We don't feel the pain of parting with our cash, but we still get the high from making a purchase.

With time on our side a couple of months in advance of the holidays we have the opportunity to step back and ask, 'What's a reasonable amount of money I can spend on holiday festivities, gifts and donations'