Managing Money After Marriage

Posted on December 14, 2007 in Tips for A Husband, Tips for A Wife

Keeping count of your money after marriage could be one of the most challenging problems faced after marriage. Although it is a fact that managing expenses at any time is a difficult task, this is worse after marriage. Since married life is a totally new one, you have to bother not only about your expenditure, but also about your spouse. You are now a family, and there should be no talk of ‘my’ and ‘your’ money. Remember, if arguments over money are avoided from the very beginning g, a big problem in marriage has been dealt with. Here are a few suggestions on how monthly income and expenditure could be planned wisely.

Chart out individual and joint needs separately – First, make a list of the things that are essential to both of you individually. Of course, this is the only thing you have been doing before marriage. Now, prepare a second list of the expenses involving both of you. This will be fuel for vehicle (if you both share a vehicle), apartment rent, cooking gas, bills etc.

Weed out unimportant elements – After allocating expenses for each item on the list, you will find that it is a whopping amount. Find out, which individual needs could be clubbed into joint needs and try your best to avoid unnecessary expenses.

Save for unexpected expenses – Do not go on a wild shopping spree as soon as you have received your salary. Set apart a certain amount from it the first day itself and do not take any money from the savings, unless there is an emergency.

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