11 Money Tips for Newly Married Couples
7. Work as a team
A financial plan will not work if only one of the partners is bearing the brunt. Share the responsibilities and work as a team. If in a month your partner wants to spend lavishly on something that he really loves, postpone your plans till the next month and let him feel special. Both of you need not be stingy or spendthrifts at the same time.
8. Share your dreams
When you both tell each other of the kind of future you want, you will come to know about each others’ hopes and dreams. That way, you will know how much money you need at the end of a particular duration, to help your partner realize his dream.
9. Clear debts, if any
If you are under any kind of debt, make sure to make it a priority to clear it. The sooner you repay your debt, the better. Not only will it be a big mental relief for you, it will also give you more money every month.
10. Invest in insurance
This may be a sore topic and the one that you might be avoiding for long. The fact is that you need to create a financially steady situation for your new life together. It is not just about money, it is also about securing your financial future.
11. Open a joint and/or separate accounts
If you are good at managing your money individually, then separate accounts could work for you. However, joint account would mean fewer fees and simpler accounting. Alternatively, you could have a joint account for shared household expenses and savings and separate accounts for personal spending.
