Finances for couples – how to better manage money as a couple?

Learn how to organize finances as a couple!

Finances for couples can be one of the biggest conflicts in a couple's life.

Normally, in these cases, the couple only starts talking about money when the situation is critical and debts start to appear.

In other words, the focus ends up being the problem and not the planning.

For this reason, financial organization is essential, as it avoids problems such as debts, overdue bills, among others.

But after all, how can a couple better manage money? How can they carry out financial planning?

If you want to understand more about the subject, continue reading!

How to manage couple's finances?

Before anything else, it's important for you to know that there is no magic formula for dealing with this situation – what exists is what is best for you.

After all, each couple has different goals, needs and expenses.

But one thing is certain: with communication, responsibility and planning, managing a couple's finances becomes a little simpler.

And to help manage finances, we have listed some tips that can make a difference when dealing with couples' money:

1. Talk about money

As we have already said, communication is essential for managing finances.

We know that talking about money is something that many people consider inappropriate. However, breaking this habit is essential for you to understand more about financial organization.

For this reason, it is important to talk about financial experiences, goals and relationship with money.

This way, one can learn from the other!

2. Have an agreement on household expenses

To avoid future disagreements, it is important to talk about household expenses.

The relationship should be based on partnership and dialogue. And this also applies when it comes to financial organization as a couple.

This helps ensure that both parties are on the same page about household expenses and can create a financial plan, which will help when dealing with emergencies and also help them achieve their dreams in the future.

3. Know how the other person handles finances

Often, couples avoid discussing this topic to avoid creating conflict.

But when it comes to financial organization, this is not the best option.

It is natural for everyone to have a particular way of dealing with money. After all, each person has their own life story and different experiences.

However, this is a great opportunity to talk about money, discuss future plans, and prepare for financial emergencies.

For example, if one of you has the habit of making compulsive purchases more frequently, without analyzing the real need for this expense, this is no reason to stop talking about the subject.

After all, one can help the other, especially when there are common goals and one of the two already finds it easier to save and plan finances.

4. Keep personal expenses separate

When two people think about the possibility of getting married, one of the main doubts about finances is whether the two accounts should be considered as one.

Of course, this is a decision that must take into account each couple's goals.

However, ideally, common household bills should be shared and personal expenses should be kept separate.

This helps maintain financial health and balance. This way, it is possible to share a financial reserve and pay all the household bills with more peace of mind, but without compromising each person's individuality.

After all, both parties should have the freedom to use their money however they wish.

Of course, advice is always welcome, especially when one of you has more experience. However, regardless of this, it is essential to respect each other's finances.

This way, it is not necessary to discuss each purchase made individually.

5. Share expenses proportionally to income

So that neither of you is overburdened, the ideal is for expenses to be separated according to each person's income.

Dividing bills equally is a good way to organize your finances when both people earn the same amount of money. If this is not the case, expenses should be paid according to each person's salary.

If salaries are not equal, it is natural that one cannot bear the higher costs.

This means that when planning to pay bills and divide expenses, each person's income needs to be considered.

6. Have common goals

Common goals help the couple to have more motivation to organize and plan their finances.

So, list the short, medium and long term goals.

Identify what dreams you have in common and how they can be achieved.

For this to happen in a more organized way, both parties must commit to saving so that goals can be achieved.

7. Create a financial reserve

A financial reserve is essential to deal with financial contingencies more calmly.

This reserve must cover at least six months of essential expenses, such as rent, condominium fees, among others.

In other words, the objective is to save money so that in the event of unemployment or when an unforeseen event arises, the couple can use the financial reserve without having to resort to loans.

8. Put the savings tips into practice

Saving becomes easier when you both have the same goal.

By analyzing both parties' financial records, it becomes possible to identify which expenses can be reduced.

These are some savings that can make a difference to a couple's finances:

• Make more meals at home

• Switch your cable TV plan to a cheaper option

• Do price research in stores in the neighborhood and city

• Look for free or cheaper programs to have fun

• Use less private transport services

• Commit to using less energy

Conclusion

We hope this article has helped you better understand the importance of finances for couples.

With transparency, organization and dialogue, the couple can plan their accounts and, therefore, grow financially!