It is one thing to consider the financial life in a particular or individual way and another very different will be the also logical and happy idea of living day by day in the same address with your partner, so usually in the latter case you should share both the benefit that generate the total monetary income to the home, such as the cost incurred both persons. The new vital project should have common long-term financial goals, which will facilitate an increasingly better quality of life from a financial point of view.
To achieve these dreamed temporary periods of relaxation, financial tranquility and greater money comfort that allows them to continue living in a comfortable way and that do not obstruct or deteriorate the relationship of the couple due to the problems arising from the mismanagement of their conjugal finances will be very necessary to apply, respect certain recommendations, advice or precautions, which as a formative and didactic will highlight the following:
Make a family budget: It is basic for good financial development in any home. It must be done so prior study, control and accounting of income and also the common expenses as may be electricity, gas, water, telephone, internet, fuel for private cars, childcare, transportation, insurance, community … etc.
Whims and discounts: What can never be several specific whims must become a “habit” for the couple. Compulsive purchases taking advantage of discounts, bargains and other offers can lead to superfluous expenses that seriously deteriorate at the end of the month of our finances.
Sharing and planning the domestic economy: Couple finances will be things of the two and it is also very convenient to talk seriously about these issues and participate both in planning, their priorities (mortgages, loans … etc.) and the goals to achieve.
Do you think it should be your standard of acceptable living?: Knowing and really recognizing what each couple needs to feel satisfied at a monetary level within their logical training possibilities, professional and standard of living is essential to any previous financial approach.
Avoid accumulating debts and controlling credit card payments: You should be very realistic about conjugal finances and take the minimum risks when applying for consumer loans, purchases with credit cards or postponements of collection due to accumulated debts, which can be derived in very negative emotional and psychological situations for life as a couple.
Savings, Investment and Consumption:
Saving and investing: Being able to maintain or reach an optimal standard of living over the years requires saving and investing appropriately for each type of couple, according to their own training criteria, saving typology, investor profile, risk aversion or financial power. The couple’s initial periodic savings and long-term investment can help them achieve their financial achievements and meet future cash needs, such as children’s education, medical treatment, travel, second home acquisition, new vehicles, pension plans … etc.
We live in a consumer society: It is evident that the current society in which we live through their different means of communication and advertising resources daily to accentuate the consumption of goods, leisure and services. Wanting to always carry the latest in fashion, car or technology (for example) will be a great financial effort that can overtax the couple’s accounts.
Optimize and control spending on this type of consumer resources and know how to take advantage of the money saved and invested during the first years of coexistence for such necessary and vital things such as health, studies, unforeseen expenses or future retirement may possible a better conjugal coexistence lacking or attenuated of problems, overwhelms, nerves, stress and many other financial worries.
Given that in today’s world if we do not look enviously at “our neighbors” and do things sensibly, we will always be able to understand, manage and value our: “Finance: Living as a Couple”.