Getting married takes a considerable amount of money. The cost does not stop there just because the newlyweds also need to continue life as a married couple.
Various challenges may be faced by new partners, especially those related to finance. For it is no longer a one man’s money, but two men. Starting a new life with careful planning needs to be done to keep the financial future healthy.
Do not let selfish feelings envelop you and your partner. In order for financial arrangements to give good results, begin to apply the following 6 tips in the household.
1. Create a Financial Budget
If you used to get used to making your own financial budget, it’s time to arrange a budget with your spouse.
Differences of opinion when preparing the family’s financial budget is reasonable, considering the list of needs you and your partner is different.
However, you and your partner are trained to eliminate their individual ego so that the budget is well-organized, neat, and targeted. Discuss the list of income and expenses.
Then, calculate the difference between the two elements to know the remaining income each month. In order for family finances to stay healthy, some of the salary of a husband and wife should be saved for the future.
2. Setting Financial Goals
Despite being a husband and wife, you and your spouse still have different financial goals. This difference should be discussed in order to keep family finances safe.
Discuss this from the beginning so that you and your partner have a clear picture of the allocation of income and expenses.
With clear financial goals, you two are better able to set common goals in the future. For example, a target to buy a new house, new apartment, or new vehicle.
3. Create a Shared Account
The plan to create a joint account may not have been unthinkable because of the individual selfishness that can not be eliminated. However, this point needs to be thought through. Otherwise, the family’s financial future You will fall apart.
After receiving a monthly salary, you and your spouse can set a certain nominal to be set aside to a joint account. The funds in this account should not be contested, nor should they be managed well so as not to jumble with other funds.
4. Discuss Expenditures Routinely
The amount of your expenses and your partner is different every month. The amount of expenditure this month may also be different from the following month.
On the sidelines of a warm chat with your partner, you can discuss the amount of spending for a month. Then compare to the previous month’s expenses. If expenses exceed the specified financial budget, it means you and your partner need to minimize the expenditure items occurring in the month.
5. Fund Allocation for Investment
Couples should have a clear common goal. This goal can also be achieved if the family’s financial condition remains healthy. To realize that goal, allocate funds to the instrument investment becomes the answer.
Many investment products that can be tried, ranging from deposits, mutual funds, gold, foreign exchange, or bonds.
Investment is believed to be able to keep family finances healthy. Because basically this investment is profitable not a disadvantage. Before investing, know the family needs for investment products selected according to those needs.
6. Set aside Emergency Funds
As the name implies, emergency funds are used to finance any unpredictable events or events. For example, illness or accident. These two events can happen anytime, where only, and can happen to anyone.
Therefore, you and your spouse should prepare an emergency fund as early as possible. The sooner it starts, the more the number of emergency funds collected.
The percentage of emergency funding allowance is ideally 6 times the monthly expenditure. However, this percentage is not an absolute benchmark. Because you and your spouse can prepare an emergency fund with percentage is smaller or larger.
Discuss Stressfully Not to Misunderstand
If you already have status as husband and wife, you and your partner need to collaborate together to manage family finances. Discuss financial budget regularly to know the amount of expenditure clearly. A solid discussion can also avoid misunderstandings between you and your partner. That way, home stairs remain harmonious.