26 Quotes by Sheryl Garrett

With time on our side a couple of months in advance of the holidays we have the opportunity to step back and ask, 'What's a reasonable amount of money I can spend on holiday festivities, gifts and donations?'

Lending practices have become so aggressive that many people are qualifying for mortgages above and beyond the old guidelines. I think the total house expense shouldn't exceed 28% of net income, and the mortgage plus other debt such as a student and car loan shouldn't be more than 36% of gross income.

Secrecy can be a killer. Many couples get married in their late 20s or even early 30s and are used to being independent. Having separate accounts allows the couple to maintain some financial independence while being completely open about it.

Newlyweds make decisions that affect each other. Young couples need to think about the unthinkable. If you have assets that you want your spouse to keep if you die, you need insurance.

I'd want to be sure that I've got adequate insurance for the sake of my loved ones.

For most of us, it took years to develop bad financial habits, and it will take at least the same amount of time to create the good habits we want. People spend more time planning their annual vacation than discussing their personal finances. That's not healthy, especially for newlyweds.

Give your student the opportunity to earn money while under your roof. Agree on a reasonable split of your child's earnings--save most for school, but don't forget some fun. Allow your child to make decisions on how to spend some of the money on a car or a trip to Europe. You want to start early so you can guide your children and have some influence over their decisions.

What you can't see, you won't spend foolishly.

Parents seek to raise their children to be self-sufficient adults. If children can vote, drive, order a drink and go to war, why do parents feel obligated to carry the full financial burden of their college education?