Tips for newly-weds on home finances

Harmonising finances for newly-weds.

Some recently-married couples may experience an ‘interesting’ time adjusting to a new way of life, especially when it comes to their personal financial matters.  As single individuals, your spending habits would most likely differ. This is why you may need to make certain adjustments to combine finances for the household budget.

Here are some ways you and your partner can make the ‘financial aspect’ of your marriage more harmonious and organised:

  1. Understand and appreciate the way each of you look at the value of money.

If you and your partner have dissimilar beliefs when it comes to finances, sit down and discuss them.

The main thing here is to be able to communicate and compromise to avoid uncomfortable feelings between you. For many people, money is a security measure that needs to be respected and saved. Others may spend it like it’s going out of fashion and look at spending money as a means of a reward and self-gratification for their hard work. And others are so thrifty they hardly ever spend a single penny over what is absolutely necessary.

You may have learned how to treat and spend money as a direct result of how you were brought up by your parents. So start by making a list of everything that you need to discuss when it comes to your household budget and if possible, clearly set out the rules on how you will spend your combined income on the bills, food, mortgage, car maintenance, etc.

  1. Setting longer term financial goals.

If you are newly-weds and planning to have children soon, include an approximate cost factor when organising your finances. If you are a couple planning on taking early retirement, you can make plans on how you want to spend your leisure years by setting the right goals as early as possible. Setting short, medium and long-term financial goals will help you plan your financial future.

  1. Share with your partner any of your money saving ideas.

If you have come from a different family background, you would most likely have something to offer towards organising your combined income and financial outgoings. Make suggestions of how you can further boost your money-spending and saving tactics based on your earlier life and background experiences.

Following these tips will help you organise and harmonise your finances and help you lead a more comfortable and secure lifestyle.



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