Tips for Working Together to Build Savings for a Chicago New Home

September 04, 2013

Joint accounts can help you get a Chicago new homeIf you and your significant other are considering owning a new home in Chicago, you may be wondering whether or not you should keep separate financial accounts. Experts at the Equifax finance blog describe reasons you may want to combine accounts with your significant other in the new article, “

Money Management Tips for Couples: Do You Need Joint Accounts?

Money can be a major point of contention in a relationship, and in some relationships, shared accounts can contribute to that contention. For this reason, you should sit down with your partner and come up with an agreement about how much you each should contribute to expenses and savings, whether that is a joint savings account to set aside for a downpayment on a home or how to deal with monthly expenses such as utility costs, groceries, other savings and the like.

You should also consider checking and sharing your credit report, as this is going to be a major factor in your loan terms. You can do this by ordering a free report from one of the three credit monitoring services every four months. This gives you a more frequent look at your credit, allows you to track changes across time, and be sure that your report is accurate. By working together, you can build a strong base of credit and savings to get yourself off on the right foot for obtaining a mortgage.

For more tips about how to manage your accounts, save money and avoid

identity theft, you can turn to the Equifax Finance Blog for helpful advice!

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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