Just getting married it feels really beautiful, because, finally we live with the people who we love. But the problem is that the expenses are increasing. There are house payments, electricity costs, and other bills. As a new partner, there are some things that we need to know and adjust to a partner. One of them is financial management. Then how should you manage the family finances that just started?
Open About The Finance Each Other
After you both committed to live together, a husband and wife must be open to each other about finance. Especially for those who work together. It is open about how much income and debt each. The financial problems in the household are one of the important things. If each other is open, then there won’t be any problem in the household because of financial problems. The Interesting Online Business That No Need Capital is solution if wife want get a job. Therefore, no matter how small income and expenditure, it must be known together. If you get a bonus from the office, for example, a husband and wife should know each other to make a financial plan for the future.
Make a Join Budget
If before marriage you have own income and expenses, then after marriage it will be income and shared expenses. Discuss the source of income and how much together you will spend in one month. Discuss patterns about spending distribution. For example, a husband’s salary is used to pay for the basic needs, while the wife’s salary can be used for small things that are secondary. This is very important to do, to monitor financial flows. So, it will help you avoid disputes about income, this is the problems that often experienced by the newly married couple.
Make a Plan
New brides must have a short-term and long-term plan. For example, for those who don’t have a home, one of the things that must be determined is rent of the house. If before marriage each lives in a boarding house, then it’s time for this new bride to choose a bigger house rental. Of course, there are more expenses. This is included in the short term plans. In, addition long-term plans must also be determined. The cost of educating children, the cost of buying assets such as houses and vehicles, must be included in the list of a long-term plan.
Discussed About The Priority Needs
When you lived together, the need will be multiplied in number. Likewise, expenses for needs will increase more than usual. Therefore, discuss with your partner which needs include priorities, such as monthly shopping, bills, electricity, paying installments, telephone, and internet bills.
Not only that. The new couple must change their lifestyle. Reduce those whose names every night hang out at cafes, clubbing, or find other entertainment. You’ve already married, try to control the extravagant behavior. Well, because you are already married, it is better to set aside your income save and invest. Many investment instruments can be selected starting from gold, mutual funds, stocks, and other instruments according to ability, such as mutual funds.
Prepare The Family Protection Funds
You are both is not only saving your money to the long-term plans but also prepare the family protection funds. Nobody knows what events that will happen to us in the future. For that, you should set aside some money to buy insurance. For example, life insurance for the family head. This insurance is useful for protecting families if the head of the family as the breadwinner dies. So, no need to worry about the financial condition, because later the family left behind will get the sum insured according to the amount set.
Make it as comfortable as possible your family’s financial rules. The most important thing about the way to managing money is to make it all planned while maintaining comfort and family.