Organic Money! Money tips for Married Couples


How you & Your Partner Should Save Money





Most newly-married couples are having a hard time adjusting to a different way of life, especially when it comes to financial matters.  Coming together as one is a struggle with different opinions, ideologies and perceptions.  As separate individuals, your spending habits will differ especially since most of your life you having been spending as a single person.  It is vitally important to discuss money matter prior to marriage.  Some couples decide not to merge their income while other decide that merging both incomes is way of showing financially unity.  This is why you both need to make certain adjustments when combining income and created  the household budget.


Here are some ways on how you and your partner can make the ‘financial aspect’ of your marriage harmonious and organized:


  1. Understand the way that you both look at money.


If you and your spouse have different beliefs when it comes to money matters,  sit down and discuss it. The key here is to be able to compromise. For some people, money is a security measure that needs to be saved. Other people spend it luxuriously and look at spending money as a means to reward themselves for their work. Still, other people are very thrifty that they hardly ever spend a cent of what they have earned.  Much of how we view money comes from our childhood.  We either mirror what we saw in our parents or go polar opposite of what we saw in homes growing up.  Money is an issue that we do not like to talk about, yet, it is the driving force for so many of our decisions.  It will do us well to have a deep conversation about money.  If there was little money in the home growing up, you better believe that there is an entire psychology why you or him spends or don’t spend money.  Money matters can be very secretive and it will be in your best interest to determine the accuracy of both incomes, savings and investments.   Think of everything that you need to discuss when it comes to your household budget. If possible, set rules on how you will spend your combined income on utility bills, food, mortgage, car maintenance, etc.

2. Set future financial goals.


If you are newly weds and you are planning to have a baby soon, consider this when organizing your finances.  A new baby can bring on added expenses if the child will be in daycare of if one parents becomes an at-home- parent.  Deciding whether to purchase a home now or later will also play a deciding factor.  More and more couples are choosing to marry later in life.  If you are a couple nearing the age of retirement, you can make plans on where you will spend your leisure years. Setting long-term and short-term goals will help you finalize your financial plans.


3. Share your money-saving skills with your partner.


If you have different family backgrounds, then you would have something to contribute towards organizing your joints assets. Make each other aware of your personal finances then think of ways on how you can further boost your money-handling tactics.  In most cases, two incomes are better than one.  There are so many interesting surveys and questionnaires online that you can find to help initiate the conversations.  A great number of spouses do not want to be bothered with the budget, but it is helpful to spend some time at least twice a year and discuss your financial future.  This will allow the absent spouse not be blind sided nor in the dark about the financial status of the home.


By following these tips, you will surely have your finances organized to lead a more comfortable lifestyle.


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