Major Life Cycle Events : Getting Married, Starting A Family, Funeral Expenses

758 Words Dec 2nd, 2016 4 Pages
3 Major Life-Cycle Events: Getting married, Starting a family, Funeral expenses
Getting married is a major life cycle event for me because in regards to planning a wedding and creating a life with my future spouse can cause stress financially, emotionally, and physically. In order to plan for a wedding, the things that should be taken into context are: venues, catering, clothing, and decorations. Finances can cause a major strain on relationships because there are many things that can effect livelihood and financial stability. Credit scores, debt, and savings (only to name a few) can hinder financial gain because if my partner has a low credit score, huge amount of debt, and little to no savings. Joint accounts have two or more owners and they require a signature card. This comes with authorizations for those able to write checks on the account. In order to deal with these issues that can arise my spouse and I could join forces to pay back debts and loans to make sure that they won’t affect credit scores. According to the textbook, if credit scores are bad or low, then the steps to improve the score are: 1) get copies to make sure that information is correct, 2) pay bills on time, 3) understand how the credit score is determined, 4) learn the legal steps to improve credit report, and 5) beware of credit-repair scams.
Starting a family is by far the most strenuous life-cycle event that can occur. It involves looking into finances that weren’t really important before such as:…

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