Clinton News-Record, 1987-02-18, Page 71'87
Showcase '87 Page 23
Setting up your bank accounts
Developing money habits as a team is
one of the biggest adjustments you will
make as newlyweds. First. decide
together how you want to handle your
money. Then make setting up your ac-
count( s i with a financial institution a
priority. Here are three primary ap-
proaches to dealing with funds.
One joint checking account
With this system, both paychecks are
deposited into one account and all bills
are paid from it. The money becomes
more psychologically "ours" with this
setup. Because you both know where you
stand as a couple, it's often easier to be.
budget conscious. In addition, bookkeep-
ing and account costs are at a minimum.
On the other hand, some couples may
feel restricted with this method because
neither has his or her own money. The
strictest approach to handling the ac-
count is to have only one checkbook;
whoever needs it carries it. The other ap-
proach is to have two books that draw
Have shoes
dyed to match
Bridesmaids always look more polished
when their shoes coordinate with the col-
or of their dresses. Flnding an exact
match is an easy task if you buy white
shoes and have them professionally dyed.
Dyeing them yourself may be unwise.
especially since certain stores provide
the service free of charge- Besides, you'll
feel more comfortable having them done
by experienced hands.
In coloring. the choices are limitless."
says buyer Bill Wyatt of the Kinnel
Shoes chain of stores. There are lifts of
colors to choose from at no additional
cost."
Here's what to do: Bring a swatch of
material identical to your dress to the
store. select your favorite style. deter-
mine the color. and allow the store a cou-
ple of weeks to finish.the job.
Inselecting the shoe. keep in mind that
the classic peau de soie is always a love-
ly choice, but now there are other op-
tions. such as satin or lace over satin. All
look very feminine. complementing to-
day's fashionable bridesmaids' dresses.
According 'to Mr. Wyatt, basic pumps,
without ornamentation, are the big
sellers. Heel heights vary depending on
your tastes.
After bringing the shoes home. you
might want to try the following hints.
About a week before the wedding, wear
the shoes indoors about an hour each day
to become accustomed to them. Scuff the
soles a bit to avoid slipping dow•nethe ai-
sle. After all, you'll want to look and
walk your best on that special occasion.
from the single account. Always having
access to the funds is the advantage. The
problem is that the left hand doesn't
know what the right is doing, so
overspending and overdrawing are
dangers. Reconciling the two books is
slightly more trouble.
Two checking accounts
Using two personal checking accounts
is often a good choice when one of you
travels extensively or when you divide up
your purchasing duties minutely. Then
you both have more financial security
when you are:cot together, and there's
less chance ofverdrawing. If the person
traveling pays business expenses out of
one account, it simplifies bookkeeping.
Depending on your circumstances, you
might put separate pay into separate ac-
counts, split the combined income bet-
ween the accounts, or divide the money
to reflect which bills come out of which
account.
One joint, two personal accounts
If you prefer handling your own money
this approach may be a good choice.
Put the majority of your funds in a
joint account from which you pay daily
living expenses. The remainder is divided
between two personal accounts.
The positive side is that you have your
own money to control, as well as joint
funds. There area few flaws: If you are
not careful about saving, this system
makes it easy to cut into your joint goals
-cause you're feeding the two separate
accounts. Handling three accounts will
cost you extra in acdount charges ant'
bookkeeping time
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AMIENINIF