Five Budgeting Tips For a New Couple

This is a guest post from Madyson Grant. She is a small business owner and a professional writer. Her passion for helping others fuels her writing and her search for more helpful information.
New couples have many worries. No matter how long you have been together, a fresh marriage brings a host of changes. Foremost among these changes are matters of budget. Shortly after marriage is a time when finances become a joint effort, and creating a budget that works for both of you is essential. Here are five tips for new couples to make the transition easier!
1. Decide on Detail
The less discretionary income you have as a couple, the more you need to keep track of it. It’s easy to keep track of the major income and expenses — job income, groceries, insurance, rent or house payments and the like — but it’s much harder to keep track of every penny. Don’t bog down your relationship with a detailed report of every penny spent, but don’t forget about the minor purchases that add up to hundreds each month.
2. Mistakes Happen
At some point, your budget will be derailed. It might be a large, unplanned expense. It might be the slow attrition caused by a daily candy bar. When your budget is off, it is no one’s fault. Don’t blame each other and argue over lost money. Get a Sigue money transfer from parents or friends, adjust your budget and learn from the mistake.
3. Joint Venture
Marriage brings couples together. It also brings together their finances. Chances are, one of you is a planner and one of you prefers to avoid such detail. No matter what, sit down and make your budget together. You are both adults. You both have financial responsibility. Participate in a joint budget, help keep track of it and work through any mistakes that come up. Otherwise, you’ll end up with one partner holding the reigns and the other forced to argue for every cent.
4. Plan Ahead
Budgeting isn’t all about watching your pennies drift through your fingers. It’s a way to calculate how much money you can put aside, so you can plan for the future. Discuss your financial hopes, large purchases and dream vacations. Then work those dreams into the budget as savings goals.
5. Keep Going
Budgets are hard to put together. They’re even harder to stick to on a daily basis. Make sure you put forth as much effort as possible to maintain your budget, even if it means hard choices. Maybe you shouldn’t get that daily candy bar if it means another year before you can buy a car. In the end, your budget is a tool to help you work as a couple and a family. It helps you prepare for the future in a mechanical, visible way. It may be difficult, but when you make that dream purchase years down the line, it will all be worth it.
Images courtesy of Madyson Grant, Studio Wed Nashville, Cantor Records & Dynamite Weddings.
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