TransUnion's Fiancés & Finances Contest!
One thing about planning a wedding is that it’s easy to get into financial troubles and overspend on the happiest day of your life. In order to help one lucky couple start off on the right financial foot, TransUnion is running a contest where the winner receives $10,000!
To enter TransUnion’s Fiancés and Finances Photo Contest, visit www.Facebook.com/TransUnion between May 10 and June 6 and upload a picture of you and your fiancé. Then ask your friends and family to toast your financial happiness by logging into the contest and voting for you! The lucky couple whose photo receives the most eligible votes at the end of the contest at midnight on June 6 will walk away with the grand prize of $10,000 in cash to help them start their new lives together off on the right financial footing. A $1,000 cash prize will be awarded to second place and a $500 cash prize to third place. The top five finalists will each receive a year subscription to TransUnion products.
Couples Credit Tips:
TransUnion provides the following tips to all couples to help them start their new lives together on the right financial foot.
- Talk About It – Openly discussing your finances with your fiancé is the best way to prevent future disagreements. Talk about your spending habits, your savings and your financial goals so that you will both be on the same page.
- Give Him or Her Some Credit – Understanding your sweetheart’s credit history can help you avoid future surprises. Your fiancé’s credit could have a dramatic impact on your rates for co-signed loans and joint accounts in the future. If there are past credit problems, work together to clean things up and reduce debts. Starting your new life together could be a lot smoother with good credit.
- Marry Your Accounts – Don’t worry, your credit reports won’t automatically merge together when you get married. Only when you open a joint account, become an authorized user or co-sign on a loan will a record appear on both your credit reports. Combining your finances this way can be a great way to get the best deal on a major purchase. Be careful though, any negative reporting associated with the account could mean double damage.
- Build a Love Nest – If you are planning on buying a home together, give yourselves at least six months to save up a down payment and reduce your debt-to-income ratio. A few months of financial improvement can help you save thousands on your mortgage.
- Cut Wedding Costs – Planning the wedding of your dreams can sometimes lead to a nightmare of debt. The average wedding now costs more than $25,000, according to theknot.com, a hefty sum that can lead to big credit card bills after the honeymoon ends. Talk with your fiancé about how much you can afford to spend without breaking the bank. Be creative about cutting back your budget: using potted flowers and making the invitations yourself can help you shrink your costs without reducing your style.
This message is brought to you by TransUnion