Budgeting Tips for Young Couples
Tuesday, March 4, 2014
Saving Money Without Starting Fights
If you care to look (and you probably have, if you're here), you’ll find plenty of resources for budgeting tips for young couples around the internet.
- Here’s a great article from How Stuff Works, for example. It outlines ten basic tips for staying on a budget.
- If you want something specifically related to young couples, 'She Knows' have a great list of five missteps a lot of couples make when they start out.
- You can even check out this case study of how one American couple whittled down their budget at The Nest.
Except, it’s never just about the knowledge, is it? Often, we already know most of the Budgeting Tips for Young CouplesTM. We just have a bit of difficulty implementing them. Young families and married couples can often have a hard time getting on the same page.
That can be a scary thought. You might wonder if it says something about your relationship. Don’t worry, though. It’s actually totally normal. Disagreeing about money is something married couples love to do. A 2003 study conducted by the University of California found that money was the primary source of marital tension in first- and third-year marriages.
So, how do you follow those Budgeting Tips for Young CouplesTM without getting into a massive fight about money? Well, here are three simple steps that might help.
Trust is a massive part of planning a budget. So, before you go about planning a budget, focus and re-affirm that trust that’s already a part of your relationship. Remember, you care about your partner’s desires, ambitions and future. Remember, they care about yours. All you want is for your partner to be happy. They want the same for you. That’s why you make a budget.
What do you want to save for? Why? Be honest. Even if you think your partner might not want to hear it, let them know. If they tell you something you don’t want to hear, refer back to Step 1. They aren’t saying this because they don’t care about you, your feelings or your wishes. A budget can only work if everyone in it is on board. The only way to do that is open communication.
You don’t have to do this alone. In fact, you probably shouldn’t. You can seek out financial planners, websites, friends, books, magazines and blogs to help you realise your dreams as a couple. You can even get your phone to act as a budget planner, if you want. The world is full of people and resources to help support you with managing your money.
The important thing to remember throughout all of this is that it’s all normal. Money is a difficult thing to work out and talk about - but, if you've patience and you persist, you’ll get it sorted.