Hello everyone, I would like to thank you again for reading this blog. I hope you find valuable tips and information on this blog that can help you in your financial freedom journey. I will share more valuable articles moving forward and I hope you stick around. 🙂
As we celebrate our 6th wedding monthsary today (ayiieehh), I will share a personal story on how we handle our finances as a newly wed couple. If you’re a newly wed too, this might help or inspire you (I’m hoping) or if you’re planning to tie the knot soon, I hope you can learn something here.
My beautiful wife Rowiecar and I got married last December 2014. That was the best moment of our lives. Although it was early as what we planned way before, everything falls into proper places and we had an awesome wedding. Best moment ever!
We already talked about how we are going to handle our finances even before we got married. And so after the wedding, we follow that plan. My wife handling all the finances but WE both have access to everything.
We both do the planning, budgeting and saving and allocating every income we have. She knows how much I earn and I knew how much her too. We’re transparent. We even know both passwords in our bank accounts.
We also have this little notebook where she take note and list everything (income – savings = expenses). I also list our daily expenses down to every single peso. Yap that’s right. Somehow I’m influencing her to be OC. Lol.
We have a monthly budget and everything is laid down how and where our salary and income will go even before we receive it. She will give my work allowance, she has her too. She had my ATM (What’s wrong with that? 😀 haha).
And we allocate savings for our emergency fund (this is our initial goal for now, we completed our emergency fund. Read here.), we list our groceries and shop them together, we both gave support to our family and we pay our bills. We also have some happy fund for some leisure and entertainment.
As mentioned, everything is planned and laid out. We stick to that plan. If adjustments are needed, we talk about it and brainstorm what’s the best thing to do although we know that wife always win. Just kidding. 🙂
This is basically how it looks like.
We both know that there could be some changes and challenges along the way but we’re positive that we will get through them. Our approach may change in the coming future as we start to build a family of our own-but we will stick to this plan for now. If need for change arises, we will still use the same concept.
That’s how simple we handle our finances as newly wed. No need to complicate things. Right? The best thing about our “system” is the transparency. We both know how money come IN and OUT in our wallet. We talked about them!
We are aware of everything and we both have access to everything. That’s one of the important things a couple should work on. Every couple, husband and wife and especially newly wed should form a good habit of talking about their finances. Especially their financial goals.
I firmly believe that talking and planning about your family’s finances is one of the good foundation of a strong, happy and financially free family.
How about you? How do you handle your family’s finances? You can share it here to inspire and help other couple and newly wed as well. I’m sure we can learn a lot from your experience and point of view.
I hope you find this article useful and inspiring. Happy 6th wedding monthsary to me and my wife! Cheers!
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