Things start to work out well and the two of you decide to move in together. It is your first time since, for one reason or another, you had not done it as a couple and you had always had your income and personal expenses, but now you share it. How can we save together living as a couple? Is this possible? The answer is a resounding yes, you can save by living with your partner under the same roof. In fact, we are going to give you the best tips so you can do it. Score, score!
Tips to save living as a couple
Although some of the tips may seem obvious, the truth is that many people do not notice them when starting to organize and save as a couple.
1. Communication is essential
Before you start doing anything, you have to bear in mind that the trust you have with your partner and communication are essential. And no, we do not say it because of how much you love each other, but because if you do not agree on how to invest your money, in certain saving methods or in requesting a loan, it may be difficult for you to save.
To solve this, you have to have fluid communication and respecting the opinions of each one. What one person likes does not have to be liked by another. Clarify it and come to an agreement that you both agree on.
2. Lifestyle and consumption habits
Whether you earn more or less income will determine the lifestyle you lead and the consumption habits you will have. A lifestyle is defined by the interests and behaviors of a user in a society; while the consumption habit is the form, quantity, type and frequency in which a user makes his purchase.
If you want to save a specific amount of money, you may have to adapt to a different lifestyle or have more moderate consumption habits. Consume fewer known brands, eat out less, etc.
3. Control the budget
You have to keep in mind the income of each one, as well as the expenses that you have and that may arise in order to have a clear vision of what you have available. The savings you can achieve will be determined by how capable you will be of controlling your budget.
Therefore, it is necessary that you have some minimum training in finance or basic knowledge that you will handle on a day-to-day basis. The budget should be managed in a spreadsheet such as Excel, although you can also do it by hand. The first option is more recommended, as it allows you to create rules for additions, multiplications and others automatically.
4. Have a common fund
This is already the decision of each couple: do you want to regularly contribute income to a fund that you have in common? Or, on the contrary, will all your income go to a single fund?
As we indicated above, talk about it and communicate to know what the opinion of each one is.
5. Establish a savings plan
This yes or yes you have to do it. Once you know how you are going to manage it, it is essential that you establish a savings plan: the way in which you are going to save, how you will do it and different related aspects.
Setting objectives or goals to meet is a good option to strive to achieve things. What do you want to achieve by saving? When do you want to get it? How will you do it? Write it down!
6. Assign roles to tasks
Who is going to do what? That is, who is going to do a weekly check (or if you will do it jointly), who is going to make the purchase, who is going to make sure that the invoice payment is correct, who is going to contact banks if necessary, etc.
Splitting the tasks is essential for both of you to be involved in the process.
7. Control unnecessary expenses
The ant expenses are those expenses as we subpar that we do not realize. A simple coffee in the cafeteria next to the house every morning or buying a candy can be an expense that we can save and that we should avoid.
Comment and list these expenses and, as far as possible, avoid them.
8. Know how to face difficult moments
As a couple, when difficult economic times happen, you have to support each other.
Having a bad economic streak is the usual thing; You will have to sacrifice certain expenses to be able to subsist in your microeconomics. Think about those expenses and write them down in your savings plan in case something could happen in the future.
9. Make a financial routine
Sitting down weekly or monthly to see how our savings are doing should become a chore. If we do not, we may have problems if things get ugly or if we do not achieve the objectives set.
10. Build a life project
Finally, do not forget the construction of your life project in your savings plan. You are a couple, you have a reason to be together and surely you have many plans in mind. Don’t forget what motivates you to stay together and why you do it: the life project that you have in common is your fuel.
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