Money doesn’t grow on trees and neither does love. Both are important aspects to a fulfilling relationship, but unfortunately money can also be a hindrance on your relationship from flourishing and becoming meaningful.
Financial troubles can cause a lot of stress and other problems to the husbands and wives, fathers and mothers and boyfriends and girlfriends. If one is a spender and the other is fiscally prudent, there can be a tremendous amount of resentment, animosity and tension.
Surprisingly, though, studies have shown that financial difficulties account for only five percent of all divorces. However, that still shouldn’t prevent couples from looking at ways to improve a relationship when it comes to money.
Here are some ways that couples can save money both together and separately:
Separate accounts
For some reason, it is believed that once two people get together then they have to open up a joint account and forget about ever having some sort of independence and a personal account. Indeed, a couple can have a joint account for things like rent, groceries and bills, but individual accounts can be great when you purchase items for yourself alone.
Think about it, you wouldn’t like it if your wife bought a dress with your money or your husband purchased a Porsche with your money.
Split the bills
One person doesn’t have to pay for all of the utilities in the household. Why not split everything? If a household has Internet or cable television, the man pays 50 percent and the woman pays 50 percent. If the other makes a higher income then an agreement could be made: one pays for Internet and the other pays for cable television.
Forget restaurants
Just because you’re together that doesn’t equate to spending money every single day. Instead, make an agreement where you enjoy the simpler things in life that are not costly, such as going for a long walk, getting a coffee and playing Frisbee.
When it comes to dinner, do not even think about making a suggestion to go out to a restaurant. There is nothing wrong with eating out on occasion, but a weekly trip to an expensive restaurant can add to the pile of bills. Once a month of enjoying a steak, salad and cheesecake would suffice.
Savings and investments
Similar to separate accounts, both partners can have their own savings and investments, but it would be wise to have a joint savings account too. This way, couples are able to save for vast purchases that he and she will enjoy, whether it’s a trip, an appliance for the home, or a new vehicle.
Talks
Sit down, have a cup of coffee at hand, a piece of paper and a pen and talk about the future. What are your aspirations? What are your goals in life? Do you plan to have a family? These are important matters to discuss as the relationship continues so you can prepare for the future (i.e. children).