Are you married with no children and therefore feel free as a bird when it comes to your finances? If you’re making tons more money than you pay out in expenses then there may be a reason for your free feeling. However, there are a lot of couples out there who aren’t so lucky. In fact, it is well known that money is one of the greatest stress factors on a marriage – even without children in the picture.
Luckily, it’s typically a little easier for a couple with one or two incomes to save when they don’t have to worry about the unexpected costs that come with having children. Here are a few tips that any married couple with no children can use …
Create a Money Plan
You are your partner may not feel too excited about creating a money plan to help manage your finances, but if you are a victim of this recession, or just want to make sure you don’t waste money you may need down the line, creating one is a good idea. The money plan basically can consist of rules you both create that determine how you will combine your incomes to pay for utility bills, mortgage payments, food, car payments, and other joint costs.
Set Long-Term Financial Goals
In addition to creating the monthly money plan, it’s good to set some long-term goals that you would like to accomplish together. Whether it’s setting aside money to buy a house, or preparing a budget for future expense on children, you can work on those goals together. Often times, married couples get into relationship trouble because one spouse is saving up for a house while this other is saving up for a sports car. Communication is key in making sure that you’re both saving for the same things.
Share Money-Saving Wisdom
A great activity that can help both your relationship and money grow is sharing your money-saving tips. If you’re a good saver who is beyond organized, you can share these tips with your spouse to help you both land on the same page.
Just because you don’t have children doesn’t mean joint saving isn’t important for a married couple. So if you notice that one or both of you have haphazard spending habits, it may be time to sit down and start planning how to save.