Money Management Made Easy for Couples.
TALK THE TALK
Starting off with the basics, open up and talk about finances with your significant other. Whether it be your current situation or your future plans, let the other person in on what’s on your mind so in the long haul there are no sudden surprises. Be clear in your wants, plans and thoughts as well as expect the same form your partner.
DIVIDE RESPONSIBILITIES
SNow that the basic layout has been laid, take time to divide who will be handling which part of the finance. Start with questions like who will be paying the utilities, how much will the rent be divided amongst each other, and other subsidiaries under this. Taking fair responsibility will be the first thing to stave off fights and payment delays.
DESIGN A BUDGET
Including day-to-day expenses! Having a budget on hand will make it easier to stay on track with payments and extra savings as well as avoid squabbles over smallest of expenses. You could even make it fun by running a challenge to see who spends the least in a month and the winner gets to spend some amount on his or her own likings. Way to get motivated!
TRACK YOUR JOINT BUDGET
Now that the budget is all set, don’t forget to track it as well! You could make a separate diary for it, or download any app to always keep it handy on your device. What’s important is recognizing your spending habits through this gesture and each month you and your partner can lay down the key points to work on for the future.
RESPECT AND LEARN
No matter the status of a relationship, it’s the vital and correct thing to respect each other’s spending and saving habits. Always be keen to listen to each other and help each other understand each other’s strengths and weaknesses. Use these virtues to your own growth and mould your relationship even stronger, together.
