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The Young Couples Stage |
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Typical financial concerns in this stage are:
- Paying off student loans
- Going back to school
- Buying a House
To see how our Toolkits can help you, click one of the following links:
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The Young Couples Stage is one of the
most exciting times of life. It is a time for a fresh start, hope for
the future and settling down. School loans are typically a major part
of this stage in life and finding a place to call home is a high priority.
Many Young Couples will begin to save for a house or may actually buy
a starter home. The challenges facing the Young Couples Stage are usually related to developing careers
-- which may require specialized training or earning an advanced degree.
A final consideration in this stage is to consider your dream of having children and raising a family and to begin to consider preparing for that cost.
The key features and functions of Simple Home Finances Toolkits to use in this stage are:
- Use the Budget toolkit to:
- Develop a realistic budget
- Manage your home finances on a month-by-month basis.
- Model changes in income and expense to see these changes impact your budget.
- Use Loan Management from the Loan toolkit to:
- Track your student loans to see how much you owe, what it costs and how long it will take to pay off.
- Track your car Loans to see how much you owe, what it costs and how long it will take to pay off.
- Model prepaying to determine how to pay off your loan in an acceptable time period.
- Use Loan Planning from the Loan toolkit to:
- See what size mortgage you can afford.
- See how much you can afford to spend on a car.
- See what getting that advanced degree will cost you.
- Use Mortgage Management from the Loan toolkit to:
- See a reasonable projection of the equity you have in your home
- Track how much you owe and what it is costing
- See how prepaying could help you build equity faster and reduce your debt.
- Use Investment Modeling from the Retirement toolkit to:
- Evaluate how much you need to save to achieve your education goals.
- Use the Summary Report to:
- See a snapshot of your finances including key information about your income and budget, loans, and retirement situation.
- See where changes can be made in your home finances.
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