8 Tips For Regulating Finance For New Bridals

Marriage Illustration (StockSnap from Pixabay)

YOGYAKARTA If you and your partner plan to get married, there is a lot of knowledge that needs to be mastered, one of which is the knowledge of tips on managing finances for newlyweds.

When a couple decides to get married, financial problems must be discussed together so that there is no waste or other thing that has the potential to trigger financial problems in the household. The reason is, financial problems in the family have great potential to trigger problems that lead to divorce.

It should also be noted that managing finances when you are single by managing finances when you are married certainly has differences. To avoid potential conflicts with your partner, follow some tips on managing finances in the following marriage.

The first thing to do when managing household finances is to determine the household budget. How much basic needs may be spent in one month or one year. When doing this, prioritize important needs that cannot be avoided such as food, education needs, and so on.

When married, each couple is advised to decide who will manage the finances. When both of them are involved there is the potential for conflict. You can simply entrust financial management to your partner. If necessary, do a monthly evaluation to review the needs.

The need for luxury goods is better avoided in the early period of marriage. Couples must prioritize basic commodities first such as food, medicines, education, and so on.

Couples who are newly married are likely not able to predict unexpected things in the early period of marriage. As a preparatory step, it is recommended to save. The savings can be intended for emergency conditions such as health or renovating houses that are damaged unexpectedly, and much more.

The bride and groom are advised to have a shared account. That way each couple has access to the account. Joint accounts can be allocated for emergency conditions or to meet daily needs related to households such as monthly shopping.

At the beginning of the marriage, couples are advised to record all assets owned by each. For example, you have assets in the form of jewelry that you have since before marriage. Meanwhile, your partner has assets in the form of a car. Personal assets purchased must be recorded and determine what if one day the asset must be sold for other purposes that are more important, such as the purchase of a house.

Couples must know the debts or dependents that are the financial burden of each. This openness must exist to make it easier to manage family finances. If the debt is not recorded, it is feared that there will be a conflict that leads to divisions.

Please note, the expensive items in question at this point do not mean luxury goods. The expensive items in question are still based on needs. For example, you and your partner plan to buy a refrigerator, or plan to renovate the house. To do so, you and your partner must agree that these needs can be achieved by saving.

That's information related to managing finances for newlyweds. Visit VOI.ID to get other interesting information.