Q: What do you think of Buy Now Pay Later options?

Personally, I’d run the other way when it comes to Buy Now Pay Later. It’s more like Buy Now Suffer Later if you don’t have the money. I think most of us are optimists and believe we’ll have more money next year. It usually doesn’t happen—unless you inherit a windfall. It’s too easy to rack up debt in the future with a Pay Later plan. Most likely, by the time the first Pay Later bill rolls in, you’ll have other expenses that will need to be dealt with. So hold off and save up for an item until you can pay for it in cash, or at least be able to pay off the bill within a month.

Q: We’re expecting our first child shortly. How can we plan for it moneywise?

You’re about to begin one of the most rewarding chapters of your life—and also one of the most expensive. There’s plenty you can do to keep the costs down. First, make a list of must-have items for the baby. Then spread the word among family and friends. You might be surprised by how many of these items show up on your doorstep—even outside baby showers. Next, reduce your monthly expenses. For example, create a budget for grocery items for the week and stick to it. Also cut down on restaurant meals. Finally, don’t put purchases on credit—especially double-digit-interest cards.

Q: How do we find a great financial adviser?

If you find a good one, they could become your new best friend. Start by asking family and friends, even your doctor or dentist, if they can recommend someone. Then test some of them out. Your comfort level with a financial planner is as important as their qualifications. Always ask the adviser what their experience is and how they are paid for giving advice/selling any products.

Q: My husband likes to save (or rather, hoard), but I don't mind using credit to enjoy life a little more. Is there a compromise? Cuz we’re always fighting about it.

You’ve hit on one of the biggest fightin’ issues among couples: Money. Communicating about money before you spend is the most important thing. You need to be on the same page. This is especially true when it comes to big-expense items such as furniture, trips or cars. If you don’t realistically discuss your income and how far it will go, you’ll head into a debt war for sure. Pick a quiet time to talk about what you both want and what you can afford. If you’re planning to purchase larger items, consider setting up a mutual savings account and contributing each month until you’ve reached your goal.