Money skills guide given to newlyweds

Money management is something all married couples have to contend with. That's why Indiana Secretary of State Todd Rokita has created the "Money Skills for Newlywed Couples" booklet.

Thirty-three percent of people say that financial responsibility is the most damaging to their relationships, more than either adultery or a lack of affection, according to a recent statement from Rokita's office. "Since attitudes about money and spending habits can be very different, it is never too early for couples to start discussing financial planning," said Rokita. "Studies say that the key to a successful relationship is discussing finances before complications arise."

To help Hoosier newlywed couples plan ahead for the financial aspects of their relationships, "Money Skills for Newlywed Couples" is being distributed to 52 Indiana county clerks' offices including Carroll.

In March, the Secretary of State's office launched Indiana Investment Watch, (www.IndianaInvestmentWatch. com), a program created to increase Hoosiers' investment knowledge.

"Investments take time to plan. It's smart for couples to discuss early on what will be important to invest for in the future," Rokita said. "The purpose of this guide is not to tell couples how to invest, but to provide information to help make intelligent and worthwhile investment choices."

This guide addresses the subjects couples should discuss before making investments and other financial decisions. For example, understanding each others' future goals, such as family planning, starting a business or furthering an education. Investment terms and definitions, as well as basic information on investment fraud, are also included. While investing is important, so is addressing financial histories and basic financial plans. Couples discuss many things before marriage but often do not consider the importance of their financial past, such as bankruptcy and outstanding debt.

"If one person has filed bankruptcy, the other partner could be directly affected," said Bethany Derringer, Rokita's director of investor education. "Most people just don't think to ask about these things, but they definitely should."

Problems paying bills and issues with in-laws tied as the leading cause of stress in a marriage, according to the relationships and credit survey. This guide addresses past credit and debt histories, insurance, investments and the decision to keep joint or separate bank accounts.

Although the idea for the booklet originated from speaking with young newlyweds, according to Derringer, the booklet contains good advice for any couple.

Other sections of the booklet include a sample spending plan, financial information for family planning and a glossary of savings and investment terms.

Copies of the guide are available to download at www.IndianaInvestmentWatch.c om or upon request by contacting the Office of the Secretary of State.

Indiana Investment Watch

Indiana Investment Watch is a broad-based campaign created by Rokita as an effort to reach and educate residents who have investments or may soon be looking for investment opportunities.

Created after a statewide survey showed that nearly twothirds of Indiana adults who own financial investments have little or no knowledge about potential fraud schemes or the security of investments, this program combats the lack of investment education among all Hoosiers.

More information about the program and its initiatives can be found at www.IndianaInvestmentWatch.c om.

Indiana Investment Watch is a free service and is funded entirely from the fines paid by stock brokerage firms in connection with the settlement of stock analyst conflict of interest cases.