Relationships can be tricky, but when you throw in money, they can get really complicated.

SunTrust had found money to be a huge stress with married couples, and about 35% said it was the leading topic they fought about. Something else that caught my eye was 63% of couples feel that their spouse overspends.

Ok, so if money can be a huge source of tension and there is a significant segment that feels like there is a spending problem, then the logical conclusion is that more couples need to talk about money. This may sound like a logical idea, but the reality is that many of us aren’t doing this.

A big factor is that while we know we should talk about money, we don’t exactly know how to do it. How do you actually start the conversations? How do you open up about money without opening a can of worms?

The five key things are:

1. Start with Your Goals and Dreams

2. Plan Your Finances Like an Epic Trip

3. Play to Your Strengths with Money

4. Automate Your Plan and Have Money Dates

5. Working as a Team

https://www.suntrust.com/resource-center/personal-finances/article/first-comes-love-then-comes-money-squabbles#.Wuhe4SMrJ-U

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Millennials have access to various types of information 24/7 and have shown to be financially savvy. However, access to social media is stunting millennials financial growth by influencing their spending patterns. When millennials are bombarded with clothing, technology, and restaurant ads there might be a tendency to be swayed and increase impulse spending. Seventy-five percent of millennials feel financially confident, compared to Gen Xers. Forty-eight percent of millennials with a 401k contribute 10 percent  or more of their paycheck every month. Forty-one percent set aside money each month for savings. The median retirement savings for millennials is $35,000 compared to Gen Xers who have fewer years to save for retirement.

https://www.moneytalksnews.com/social-media-is-stunting-millennials-financial-growth/

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You can save money on your cable bill if you do not need sports or news channels. For just $16 you can have A&E, Animal Planet, HGTV, Lifetime and Travel Channel. This internet-based TV service will soon become accessible through a wider array of devices. Philo will be compatible with Apple TV and Amazon Fire TV this summer. Philo is compatible with Mac and PC, Apple mobile devices, Android mobile devices, and Roku. Philo has a $16 package for 37 channels and 46 channels for $20 per month.

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The chip on your credit card is the newest technology to prevent fraud. Thieves have found ways to steal your information anyway. One method is to steal the credit card in the mail and replace your chip with a fake one. Then it is too late. Second, scammers use a usb-type devise to capture your information when you use your credit card in the store. The chip leaves behind info that can be used at a later date. The best thing you can do is to read and monitor your credit card statements to alert your credit card company if this happens to you.

http://www.khon2.com/news/local-news/scammers-discovering-ways-to-combat-credit-card-chip-technology/1150592735

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Every state offers at least one 529 plan. These are tax-deferred dollars that anyone can own or contribute to one. The new and improved 529 plan allows parents to use the funds for educational expenses for K-12, junior high, and high school students. If the child never attends college, the funds can be used for the next generation with limits up to $400,000 – $500,000. Most important, 529 plans can be used to accumulate savings for a disabled child without affecting their eligibility for government benefits such as Medicaid and Social Security disability income.

https://www.cbsnews.com/amp/news/529-education-savings-plans-just-got-even-better/

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As we plan to celebrate Mother’s Day in a few weeks…Women contribute to our families and to our world in untold ways…but did you know…Although women often live longer, they typically earn less than men, which can translate to hundreds of thousands of dollars less than their male counterparts over a lifetime. Today, Women represent the largest group with student loan debt. Being a mother and a caregiver often reduces time in the workplace. Divorce can reduce a women’s income up to fifty percent. In some instances, women pay more for their clothing, dry cleaning and health insurance. Learning to budget, prioritize, and save for retirement will enable women to protect themselves and their families.

https://www.cnbc.com/amp/2018/04/30/women-need-to-take-an-active-role-in-their-financial-lives.html

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5 Blunders You’re Making When Investing for Retirement…

Avoid these five common retirement fund mistakes:

1. Not using an account with tax benefits
2. Missing out on your employer’s match to your 401k
3. Keeping all you money in one fund
4. Ignoring fund fees
5. Using your retirement money like an emergency fund

https://www.moneytalksnews.com/5-blunders-youre-making-with-your-retirement-fund/

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How to Handle Multiple Saving Goals

First, identify your goals and write them down. Second, know exactly what you are working with. Such as your salary, monthly bills, loans and other debt, savings, and investments. Once you have your emergency savings in place, you can set aside savings in other areas to make your goals come true. Use the snowball and avalanche methods to pay down debt – you can decide which one you prefer. Automate savings and bill payments to structure your spending each pay period. Next, the most difficult thing to do is to wait until the time is right. You may want to reduce most or all debt before you proceed with your goals. This is important to ensure you do not have to abandon your goals and start again. It’s ok. If you don’t at first succeed try, try again.

https://amp.cnn.com/money/2018/04/16/pf/how-to-save/index.html

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Why You Should Think Twice Before Paying a ‘Sale’ Price

Can you recognize a real sale price? It can be difficult to detect a real sale price of a product. Stores pricing can be misleading and we can to find ways to know the difference to avoid being manipulated. First, always assume the ‘sale’ deals are made up. Try DealNews.com where bargain researchers keep their eyes on millions of products.

https://www.moneytalknews.com/heres-retails-biggest-ripoff-parading-buying-opportunity/

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Trump Signs Bill Adding Protections for Social, SSI Recipients

Individual tasked with handling Social Security payments for payees will be subject to greater scrutiny. The Social SecurityBeneficiaries Act of 2018 will prohibit individuals with criminal convictions will no longer be eligible to be a payee. Recipients will be asked to make a list of potential payees in order of preference. The goal is to reduce the abuse and exploitation of persons with disabilities. This new legislation will increase much needed accountability for the payee program.

https://www.disabilityscoop.com/2018/04/17/trump-protections-social-security/2493/

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