Show rii BABSON'S tt t ts y AUTHENTIC s u STATEMENT Bc Beget W Dab Bab Special to THE EXPRESS FINANCIAL PLANNING FOR NEWLYWEDS Babson Park Mass April 29 We are approaching the Ule bi big season for weddings When a ayoung t young man and woman get mar fled ried they become in a very ver special sense two d ferent people particularly in terms of o basic responsibility to one a another nother and to the new home they are establishing But it itIs i Is often difficult to convince newlyweds that there are post positive live tive steps that should be takes taken right away e even en though these steps may seem Inconsequential inconsequent ial to them in their new hap happiness HUSBAND SHOULD LEAD THE WAY Even before the marriage while the bride to is float floating ing ing on a cloud of wedding planning and anticipation th the young man will do well to be begin gin building a family economic econ and financial program To walt wait until later Is a great great mistake though It admittedly is the easy way out that many young lovers follow Perhaps first on the list should be a s careful and mutual decision on or where to start their lives to together gether Marriage counselors counselor generally favor a small eat ent apartment at a realistic realist ft rental for newlyweds especially if the bride intends to continue or to start working This wit will leave ample time for the days day of early adjustment when ex extraordinary burdens should be beheld be beheld held to a minimum Once the knot is tied the groom should supervise change overs of various sorts but not without the assistance and operative cooperative understanding of his wife we If either of them their has life insurance an immedi immediate ate change should be made it in inthe the beneficiaries and it is a a good idea to indicate any sur surviving children of the marriage as beneficiaries after the sprouse even though there are arc areno no children at the time Most Mosi policies make provisIon for this to ensure that the money will go ge goto geto to a chosen person rather than into the estate of a beneficiary who predeceased the ensured MANY IMPORTANT ALTERATIONS Young people teem seem to think they are going to live forever but parents or Clr IllI ts should point out to their air borne youngsters that to draw a will wUl is a sign of maturity and intelligent responsibility Newly weds are likely to feel that they haven't enough h to bother with yet so they'll draw their wills later on But they usually have a great deal more than they realize and there are such s would never happen to us things as transportation acrid eats that could bring tragedy Better to make out wills early then forget them j no need to dwell upon death but foolish to deny its inevitability Use the family lawyer or get another r good one and stick with him Title should be changed on bank accounts real estate stocks and bonds Make out a alist alist list of or organizations or people that should be informed at once l of a new address change in marital status and married name of the wife It will sur sur- sur surprise prise many young couples how complicated the list may be Employers there are some times extra benefits for mar mar- married ried workers such as extra in in- in insurance maternity leaves for wives etc banks brokers account stores auto licensing and registration bureaus the Social Security office unions credit unions the draft board and periodical publications of- of of more SET UP A GUIDELINE BUDGET If a young couple starts oU off from the very first with a bud bud- budget i get mutually decided upon a alot lot of headaches will be avoided A key part of the budget should be outlays for a family financial financial ial program It is an excellent idea to have a joint checking account so that both partners can see where their In- In Income in come is going and note how realistic their budget may be Also cancelled checks are good evidence for income tax deduc lions Young should be warned however that a living budget should be the key to sensible spending and not a straight jacket that permits no leeway in the direction of more gracious more companionable family life |