Skip to main content

How To Manage Your Income as Couples

According to Marshable, Having the same goals as your partner is important, whether they involve your careers, family or finances. To achieve those goals and live in harmony, it helps to be on the same track, working together toward the same things.

How to teach your spouse to save money

If one partner has the goal of getting out of debt while the other is constantly spending, there’s bound to be friction. It’s important to discuss these differences and make a plan to address any issues as a couple. Remind yourselves that you’re a team and better off when working together.
Having some extra cash on hand will help you work toward goals such as paying off student loans, saving up for a wedding or a down payment on a house, or starting a family. Here are four simple ways couples can start saving money today:

1. Rethink date night

How often do the two of you have a date night? Some couples have a weekly date night where they go out to a fancy restaurant, order drinks and then do an activity afterward, like a movie or bowling. An evening like that can quickly add up to more than $100.
If you want to save money together, you may have to change what you do together. Keep date night a tradition, but decide on a spending limit that supports your goals and then get creative. You can have a “no technology night” where your turn off all devices, or a Netflix marathon, or cook up some food and play board games at your kitchen table. 
Whatever you do, make date night about spending time together and connecting with one another, not about paying an expensive bill.

2. Declare a ‘no dining out’ month

The money you spend eating out adds up quickly. Even fast food, lattes and vending machine snacks can slowly empty your pockets. You can make simple, homemade meals for a fraction of what you’d spend going out to eat. 
Choose one month and commit to making all your meals at home, including brown bagging your lunch for work. Then, fight the temptation to stop at the drive-thru or grab a sandwich at the office deli. You’ll have saved a substantial amount of money by the end of the month.

3. Forgo gifts for a while

While you’re looking to reach specific financial goals, make a pact that you won’t buy each other lavish birthday, anniversary or holiday presents. Couples often spend hundreds of dollars on these special-occasion gifts. 
By putting that amount into a savings account toward your financial goals, you’re both still receiving a gift. You can celebrate the occasion with a card and handwritten note reminding each other of what you’re saving for together, and then enjoy an intimate evening at home. If that doesn’t feel like enough, you can always be creative and make something for your partner out of inexpensive materials.

4. Plan a staycation

Instead of planning your annual getaway, consider having a staycation this year. You and your partner can take the same week off from work and do fun things around town together. Rent a movie and watch it in the middle of the day, have an at-home wine tasting adventure, go for a hike or to the beach, pack a picnic and have a day at the park. 
There are likely many activities you can do that are close to home and inexpensive. Keep your savings goal in mind, and let vacations be relaxing and rejuvenating, instead of draining your bank account.

Track your savings

As you follow these suggestions, keep a log on the kitchen counter that you use to write down how much you saved on a purchase that was reduced or forgone. Keeping a running tally of your savings can be exciting as you watch them grow and bring you closer to your goals.
Of course it’s fun to splurge and do new things or go to fancy meals together. But the most important part of your relationship is that you’re spending quality time together, and you don’t have to spend money for that to be enjoyable and meaningful. 
When you set financial goals, it’s good to have a plan in place for how you’ll reach them. Making sacrifices and staying the course together can make your relationship stronger and improve your financial position at the same time
Labels:

Comments

Post a Comment

we love to hear from you

Popular posts from this blog

Top 10 Best Night Club in Nigeria

Nightclubs (or Disco as known in most European countries) is an entertainment event center and bar that usually operates late into the night. A nightclub is generally distinguished from regular bars, pubs or taverns by the inclusion of a stage for live music, one or more dance floor areas and a DJ booth, where a DJ plays recorded music and also the closing hours. The upmarket nature of nightclubs can be seen in the inclusion of VIP areas in some nightclubs, for celebrities and their guests. Nightclubs are much more likely to use bouncers to screen prospective clubgoers for entry. Some nightclub bouncers do not admit people with ripped jeans or other informal clothing or gang apparel as part of a dress code. The busiest nights for a nightclub are Friday and Saturday night. Most clubs or club nights cater to certain music genres, such as house music or hip hop. Below are the list of the luxurious and most expensive Night Clubs in Nigeria 10. Signatures – Akure The c...
Post a Comment
Read more

Man Cries Out as He is Sentenced to Jail for fetching Rain Water

Gary Harrington of Eagle Point, has been sentenced to 30 days in jail and to pay a fine of $1,500, all because he had three reservoirs on his own property, that he used to collect and use rainwater. Harrington says he plans to appeal the conviction in the Jackson County Circuit Court. That conviction revolved around nine misdemeanor charges that come from a 1925 law. That archaic ordinance bans what state water managers called “illegal reservoirs.” “The government is bullying,” Harrington said in an CNS News, last Thursday. “They’ve just gotten to be big bullies and if you just lay over and die and give up, that just makes them bigger bullies. So, we as Americans, we need to stand on our constitutional rights, on our rights as citizens and hang tough. This is a good country, we’ll prevail,” he added. It all started back in 2002, when Harrington was attacked for having three “reservoirs” (ponds) on his large 170 acres of land. But the state claims that collecting water requi...
Post a Comment
Read more

Devotion - FORGING FORWARD

“And the LORD said unto Moses, Wherefore criest thou unto me? Speak unto the children of Israel that they go forward” - Exodus 14:15  It is unfortunate that many youths do not see the need or have the zeal to move forward in life. Rather, they find a comfort zone at the bottom of the ladder of life.  A story was told of a young man from a very rich home, who completed primary school but chose to waste away his life with vagabond lifestyle, despite his parents’ wish to sponsor him up to university level.  All his mates, including those who were not as bright as he was, made it in their academic pursuits. He ended up an outcast, and by the time he came back to his senses and returned to persuade his parents to send him to school, alcohol had damaged his brain. It is not God’s desire that you remain static in your plans but that you make steady progress. God does not expect you to remain the same way over the years without moving forward.  Striv...
Post a Comment
Read more