Other FAQs Other FAQs

Buying used and holding for many years is usually most cost‑effective. Leasing can suit those valuing frequent upgrades and predictable costs, but often costs more over time. Keep total car cost modest (e.g., ≤20–25% of annual gross) and avoid long loan terms (≥60 months) that increase interest and negative equity risk.

Gently used (2–4 years old) often offers the best value (steeper early depreciation already taken). New offers full warranty and latest safety tech but higher price and depreciation. Run total cost of ownership: price, financing, insurance, fuel, maintenance, taxes/fees, and resale value.

Term life is usually the right fit (inexpensive, straightforward). Coverage is often 10–15× annual income or enough to pay off debts + fund dependents’ needs (mortgage, childcare, college). Whole life is complex/costly; buy term + invest the difference unless you have a specific need. Revisit after major life changes.

Health, auto, homeowners/renters, and disability (if your employer doesn’t provide adequate coverage) are core. Umbrella liability adds inexpensive extra protection above auto/home limits. Evaluate deductibles, coverage limits, and exclusions carefully; shop annually for competitive pricing.

Increase deductibles (with adequate EF), bundle home/auto, shop multiple carriers, maintain good credit, use telematics (if acceptable), and ask for discounts (safe driver, student, multi‑policy). Don't underinsure to save pennies, as coverage gaps are costly in claims.

Depends on field and debt load. Compare expected earnings, completion rates, and net price after aid. Guardrail: aim for total student debt ≤ your expected first‑year salary. Trades, apprenticeships, and community college transfer paths can be excellent ROI with less debt.

Only if the degree materially increases earnings or is required for your field. Model expected salary uplift vs debt service using conservative assumptions. Consider part‑time programs, employer tuition benefits, or scholarships to reduce borrowing.

Many use a hybrid: joint for shared bills/goals, individual for discretionary spending. Agree on goals, savings rates, and debt repayment priorities. Full transparency (credit reports, debts) prevents surprises. The “right” setup is the one you both trust and can operate consistently.

Use neutral weekly money check‑ins with shared goals and a written plan. Start with small wins (EF, bill autopay, one card payoff). Keep judgment out; make progress visible (debt thermometer, net‑worth chart). Consider a therapist/coach if conflict is chronic.

Set a hard cap and reverse‑engineer a line‑item budget. Prioritize what matters and be ruthless on low‑value items. For babies: plan for medical out‑of‑pocket, parental leave income changes, and ongoing childcare. Build a sinking fund months ahead.

Research bands (Glassdoor, Levels, recruiter intel), practice scripts, anchor high (with rationale), and negotiate the full package (base, bonus, equity, WFH, sign‑on). Timing matters: negotiate after you are the preferred candidate. Always stay professional and collaborative.

Assume repayment risk is 100%. If you proceed, only lend what you can afford to lose, put terms in writing, and avoid co‑signing. Consider a small gift instead to protect the relationship. If lending, treat it like a business transaction to reduce ambiguity.

Consider an advisor for complex tax/estate planning, equity comp, business sale, or if behavior/complexity overwhelms you. Prefer fee‑only, fiduciary advisors (hourly/flat/AUM with transparent fees). Verify credentials (CFP®/CPA) and get a clear scope of work.