What is the best way to handle finance in marriage?
The best way to handle finance in marriage as long as you are both willing to communicate openly about your finances and work together to think of a solution to every problem.
1. Communicate your finances you should ensure that you and your partner will cooperate in family financial problems. This means that both of you should sit together and discuss openly all over your finances including all debts and assets. Once you get married You will combine your finances and your spouse. It would be very annoying if one of the pair likes to spend money giddily while a more desperately saving his money. You have to work together to find ways of achieving happiness related to financial problems. You have to take a big decision together, and decide how to deal with financial pressures from a large family, or other difficult financial decisions.
2. Set goals together after You discuss the financial condition of each, you both as a couple should set goals related to finances that includes the pay debt, buy a House and save for retirement. Try to be specific as possible about the timing and amount, because this will help you stay on track. Your goals will help you succeed financially and you will be able to retire comfortably.
3. Budget As Couples in addition, you should plan the budget together. This will help you work together to achieve your goals. It will also give you a clear spending guidelines. When you do budgeting together couples, it is extremely important to communicate on a regular basis. Initially, you may need to make budget every night and report your expenses to each other. After you do your budgeting for a few months, You may be able to reduce the frequency to discuss financial became the only two times a week. Take the time now to make good financial habits in your wedding. The time you spend it will avoid you both from the fracas caused by money and make your family's finances became more solid
Buying goods that are still eligible to use can save the budget, such as: used cars, used electronics, used furniture, and so on. Many people offer cheap bargains for used goods that are rarely used, some even never used. Sometimes people can find items whose boxes are already open, but the items inside them have never been used, but are not sold like the price of a new item because the packaging has been opened. Some of the many online stores that offer used goods rarely used, you should be diligent in searching on the internet.
Buying used goods that are still worthy or used goods with conditions such as new items will greatly help you to save money. For example, for families who have just moved house and need furniture such as: tables, chairs and other household furniture. It's best to buy good used goods at secondhand stores, flea markets, and online stores, but do not forget to bargain. With a little spray paint, the used tables and chairs will look like new.
Plan a Monthly Monthly Shopping
Financial waste tends to occur when using money to follow the wishes, but the desire is not necessarily a necessity. The best way to use a small income is to create a monthly spending plan using the written budget. Spend the money in accordance with the plans that have been prepared. When it's time to buy what's needed, you already have a budget to shop for. But do not use the money over the budget that has been prepared, because the remaining money has been allocated for other needs. Using a written budget to plan your expenses can minimize you from the risk of spending money on things you do not need.
Plan a monthly budget in writing, by dividing the list of expenditures into two, namely: the primary needs and tertiary needs. Primary needs include: meals, transportation costs, electricity bills, water and telephone, mortgage, motorcycles and cars and others. While the tertiary needs include: budget for shopping clothes, traveling, until the budget hangout with friends or colleagues. In addition to getting used to making budget monthly spending plans, you also have to get used to comply with the financial budget that has been made
The size of the salary often affects how to manage the right so that you can avoid the condition of the financial deficit. Especially if your salary including fixed income or monthly salary alias with the necessities of life are often up and down. For those who are underpaid, they will find it hard to save money on things like: emergency funds, tuition, pension funds, buying a car, and so on. In fact, not infrequently there is a run out of money in the middle of the month. This may happen because they can not manage their monthly salary well to meet household finance needs.
Every family must have plans for its future such as: vacation, own house and car, to tuition of children, and pension fund. The plan requires a lot of money, while looking for additional income is not something easy. That's why you need several ways to manage household finances with small salary so that the plan has been compiled can be achieved. For simplicity, consider the 13 ways to set household finances with the following small salary.
1. Perform Home Cost Evaluation
his family's finances because the mortgage (mortgage) has cut most of the monthly salary. House payments should not be more than 25% of total salary earned each month. Look for mortgages that offer the smallest installment, or if you have not been able to take home mortgage, you should look for a cheap contract. There must be several offers that fit the capabilities. The key is you must be diligent to keep looking for information.
If you have your own home, you can set aside some of your salary to make savings or invest. If you are single, you can rent a room at home for 1 or 2 friends. The money from renting the room can help you pay the mortgage to be cheaper and is a good way to invest. In this way, you can repay the house and set aside some money for other investments such as: savings and emergency funds.
The best way to handle finance in marriage is to first of all having good money management in your marriage,secondly your wife must share the same financial discipline just like you,both of you should have a joint account which you guys will use to take care of the finances in the marriage
Try to use your money as needed. Make a list of your needs, and look for the price. To find prices do not need one place, can be in some places. Negotiate to get cheap price. Adjust your needs according to the money you have. Use your money for the needs that you really need.
The best and the easy way to handle the finance in marriage is just give money to any of elder person in house as he has many experience in handling the money in different marriages. As there are many possibilities that we have spent many more amount of money then our budget and after that we get stressed so there are best way give money in advance pay the full amount so that there are chances of less amount to give afterwards the marriage and the basic requirement of any marriage can be fulfill.
Communication is the most important part. You both have to agree and be on the same page about every aspect of your finances. If you sit down once a week, or once a month and go through a budget and plan out your spending your finances and relationship will be much stronger and healthier. The leading cause of divorce nowadays is money fights and money problems.
It would be helpful for you to contact with a event management. They can helps you to know the best way to handle finance in marriage.
I can give you some tips it would be helpful for you:
1. Discuss with old members who knows about current market price of essentials of marriage.
2. Invite few members in ceremony day that saves your huge money.
3. Lighting, decoration must be simple.
4. Say no to DOWRY system.
Number 4 is dangerous of all them.