Have you planned what it will be like in terms of “who gets what” at home or what to do with the income or savings? Have you ever wondered about the possibility of having a joint account or would you prefer separate bank accounts? Are you ready to buy a house on credit?
What should be the contribution of each one to the joint economy and the future family budget?
Check some tips that can help you make decisions together:
- Talk straight and be transparent about the distribution of household expenses;
- Decide whether you want to keep separate accounts and then create a joint account only for household expenses or whether you choose a single account, this will help to avoid problems in the future;
- Build the habit of writing down all expenses and drawing up a family budget;
- Achieving “dreams for two” and the way and the term to achieve them. For example, “buy a car or a house or upcoming holidays”, in a short, medium or long term goal? Also quantify the monthly financial effort for the reach;
- The best would be to live a level below your capacity and save money in order to more easily achieve goals. For example, if you earn €1000, try to live with €900 and save €100.
- Do not forget: create an Emergency Fund, because unforeseen events do happen!
With regard to the house, the decision must also be considered. Buying or renting a house will once again depend on the couple’s goals. Buying a home on credit will be perhaps the most important decision of your life together and should be properly considered. Professional stability, the possibility of moving in the future, the initial financial capacity to enter the purchase of the property and the effort rate, among other aspects, must be adequate.
For the couple’s financial life to be happy and safe, planning is important.