Money is not everything, but it will help to make some dreams come true. Transparency with finances can make the couple better manage their household expenses, and have money as a solution, not a problem for both. Check out this advice!
A delicate subject and even a reason for family discussions, the financial issue can be resolved and well managed. It all depends on the couple’s ability to handle money and use effective financial planning to organize accounts and carry out projects. The costs of the link, for example, involve the rental of space, the decoration of the wedding , the wedding costumes and accessories, and another series of suppliers, such as the buffet, photographers, those responsible for wedding favors , florists, etc. There are many professionals and details, which forces the couple to establish a possible budget for their pocket.
Even after they are married or when they are living together, the lack of a romantic dinner, a walk, a trip or a trip to the cinema is considered a problem of time or affection, but the heart of the matter may be precisely in financial planning . That is why today we bring golden tips to help in the decisions and control of expenses.
- Dialogue: the key to the issue
The first tip is essential in any relationship: dialogue. Sometimes financial problems become a snowball due to lack of conversation, which requires patience and complicity. Many couples disagree because one earns more and the other less, one is unemployed and the other has to pay for everything or the two have different projects: one prefers to save and the other spends too much. Anyway, there are many situations that can diverge between a couple and this is normal, as it is likely that they had different suggestions for the songs for the wedding party.
But people deal with money in various ways, there are those who save or spend, there are those who are out of control, those who are disconnected or concerned. So, identify your own characteristics and those of the partner so that the coexistence is harmonious in the mixture of each one’s style, which they can yield and modify, and do not be afraid or aversion to talk about this subject.
- Organize spending
A practical way to organize the inflows and outflows of money is to make an excel spreadsheet or a simple table (a chart) because visualization makes the organization more effective. In the spreadsheet, you will put the salary of each one and the essential expenses of the house, such as electricity, water, gas, internet, rent if you have, condominium, supermarket, among other monthly expenses.
Thus, you will understand how much each one can contribute, in addition to setting common and individual dreams and goals. If the situation is still not favorable, keep the spending pattern and avoid superfluous expenses . The spreadsheet also helps in planning the wedding, put everything with the values, from the invitations to the bride and groom to the wedding cake to see what can be saved or replaced, so that the party does not exceed the budget and you are in debt later.
- Maintain autonomy
The union of the pair means the union of wages, but you must not forget that you are individuals with particular needs. Each has personal tastes and it is important to maintain autonomy. Think about the priorities of the moment to assess what can and cannot be left out.
- Managing debts
If you have a lot of debts try to clear them all, put them as a priority, even if it costs to postpone the wedding a little longer. These accounts must also be on the financial planning spreadsheet for you to be in control and not create more expenses.
Remember that financing, credit card and overdraft have high interest and can compromise the budget. The ideal is to pay the bills in full the following month and not pay the minimum. If you can’t, try not to ask for more benefits than you can afford. Usually wedding planning starts a year in advance, so keep that deadline in mind.
- Make an “emergency fund”
If debts are paid off and financial planning is flowing, it’s time to think about setting aside an emergency amount, which may be 10% at the beginning, as a suggestion. This fund is for unforeseen situations, such as the case of losing your job or the overflow of the budget, to avoid entering the overdraft or asking for financing. It is something to be done in the long term and you can think about investments when you are more secure.
- Savings for dreams
To top it off, keep in mind a strong joint motivation to make sacrifices, if necessary, and begin to set aside a budget for savings. Call it “savings for dreams”. It can be a trip, a course, buying a car, and even having a child. A life goal for two will give you the strength to save money.
Financial issues need to be part of the conversation for the couple to make decisions together and avoid bad choices that will directly affect the maintenance of home and dreams. Planning before, during, and after the wedding will keep the objectives clear and make it easier even when choosing the wedding cake because you will be on the same page. It is an attitude that demands time and willingness for financial life to gradually stabilize, without stress, and with much companionship.