Married / No Kids Series: Careers Are Most Important

Often times, when couples don’t have children they focus a great deal of their energy on their careers. This is not a bad thing, however, because it not only allows them to save up money for a future that could include children, but also allows each partner to get settled into their careers so that if a child arrives there could be a greater promise of financial stability down the line.

Using Your Career to Help You Save

One benefit of maintaining a career rather than holding simple jobs is that you can usually take advantage of benefits such as 401k options, health insurance, and even life insurance. Of course, the longer you stick with your career, the more money you’re likely to make as you rise in the ranks. But as you acquire more benefits, you can take advantage of hidden advantages.

For example, if your company offers a flex spending option then you can set aside pre-tax money for additional health coverage. While you’re depositing money into this account, you’re actually able to cover fees that would have otherwise come out of your pocket after tax. This could save you hundreds of dollars a year.

As mentioned previously, managing your 401k is another way to save. Of course, these funds are to be used for your retirement, but as long as the market remains stable, these are funds that can grow a lot over a long term.

The More You Make, The More You Can Save

Many professionals make it a practice to get their careers on track before thinking about having children so that they can set some aside if that day comes. Obviously, the more you’re able to make as your career progresses, the more you can set aside in savings and invest. This is why many married couples without children make it a point to make their careers most important.

Saving can be a tough job even without children in the picture. If you and your spouse have not had any yet and want to save, it may not be a bad idea to place a priority on getting your careers on track to make saving easier in the long run.