Money Management For Newly Weds

Nov 20, 2013 1 Comment by

5 Budgeting Must Do’s For Couples


One of the most challenging parts of entering marriage is learning how to combine two incomes and work together to manage personal finances. As a married couple, when it comes to money management it’s important to establish rules and have guidelines on the overall budget to prevent overspending or going into debt. By preparing beforehand with an organized budget that is realistic, it will work to avoid unnecessary arguments or stress.


1. Pay Off Credit Card Balances

One of the most common reasons for divorce is due to finances, making itMoney Management For Newly Weds photo credit Brionna Kennedy important to reduce stress by paying off credit card balances or loans. First pay off credit card balances that have the highest interest rate first to prevent spending as much during the payoff process.


2. Establish a Savings Account

Having an emergency fund is crucial to prevent having to rely on credit cards when a tire blows out or there are unexpected medical bills to cover. There should be at least $1,000 saved, which can be rebuilt whenever used. For those needing a large amount of money in cash advance options through Power Finance make it easy to pay for unexpected bills on time before the next payday.


3. Use Every Dollar

Overspending is easy when every dollar is not accounted for in an income. Whether extra money goes to a savings account, 401k, or investing, make sure that every dollar is budgeted to establish a secure financial future where nothing goes to waste.


4. Use Cash

Using cash is a practiced habit for both financial experts and the wealthy as a way to pay less for large purchases as well as prevent overspending. People naturally spend less when handling cash, making it easier to stay within a budget. Consider using different envelopes for each expense, whether purchasing fuel or even groceries. Once the cash is gone from each envelope, there is nothing left to spend until payday.


5. Set Aside Fun Money

Staying financially smart doesn’t mean not having fun. Reward yourself by budgeting for fun activities each month, whether it involves traveling or getting a massage. It will make it easier to respect your money and stay within your own rules knowing that you’ll still be able to have some fun money to go shopping with.


Whether saving for retirement or paying off student loans, there are a number of ways to budget your account as newlyweds after combining incomes and possibly having new expenses. It will make it easier to enjoy the first years of marriage without unneeded stress while securing your financial future for a stronger relationship and successful life together.

Dating Symbol’s guest author today is Brionna Kennedy a native to the Pacific Northwest, growing up in Washington, then moving down to Oregon for college. She enjoys writing on fashion and business, but any subject will do, she loves to learn about new topics. When she isn’t writing, she lives for the outdoors. Oregon has been the perfect setting to indulge her love of kayaking, rock climbing, and hiking.

Related Posts with Thumbnails
Money and Property

About the author

The author didnt add any Information to his profile yet

One Response to “Money Management For Newly Weds”

  1. Anica Oaks says:

    I love the idea of using envelopes for your separate expenses. Makes sure everything is laid out and planned. Great article!

Leave a Reply

  • RSS
  • Twitter
  • Facebook