In any family, sooner or later, the question of budget management arises. So that money does not become a stumbling block and does not cause conflicts, it is important to discuss all the nuances with your soul mate.
Tips on how to properly manage the overall budget will be useful for both newlyweds and experienced spouses.
1. Choose what type of budgeting is right for your family
There are three basic budget models:
differs in that each of the spouses spends their money as they wish. This model may be relevant for those who are just starting to live together. Large purchases and monthly expenses (rent and utilities, for example) are billed in this case, usually in half.
In budget management, spouses put all their money in a common wallet. All family expenses are then financed from this wallet. In this case, it is important that people trust each other, otherwise disputes about "who spends more" cannot be avoided. This model is suitable for successful married couples, or families where there is a clear leader who will manage the common wallet.
budgeting is suitable for almost all couples. Its principle is simple: both spouses put part of their income into the general budget (say, half), and keep the rest for themselves. All large purchases, joint vacations, family expenses are paid from the general budget, and at the same time, everyone has money for personal purposes.
2. Keep track of income and expenses
Keeping records is mandatory, regardless of the model you choose, otherwise you will never understand where the money goes so imperceptibly. There are various programs for your computer or smartphone. It is enough to download the one you like and enter the numbers into it, and the smart machine will calculate everything for you. You can do it the old fashioned way: start a notebook and write everything down in it. Someone has to keep records, otherwise there will be confusion.
3. Start saving
Keep receipts for all purchases for at least a week, and summarize at the end. Feel free to cross out harmful foods (chips, purchased ready-made salads, excess sweets) and unnecessary sauces and seasonings and see how much you could save. Avoid these foods on your next shopping trip.
Be sure to write down the list before you go shopping. Calculate how much money you need approximately and take with a small margin. This way you won't be tempted to take too much.
Reduce the number of trips to cafes and restaurants and you will see how it saves your budget.
4. Create a reserve
Every family needs an emergency supply for emergency situations (and they happen with enviable regularity). You can put these savings on a separate bank card or make a deposit that can be quickly withdrawn.
5. Plan expenses
If you have been running a family budget for several months, it will not be difficult for you to plan spending for the next month. This will give you a guideline that will help you save money.
