💑 In a Nutshell Money Management Steps for Happy Couple 💑
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1. Start Talking About Finances
✅ Your feelings around money
✅ Your income, savings and debts
✅ How much are your monthly bills
✅ How you currently manage your finance
2. Write Down Goals
✅ Establish a goal
✅ SET FINANCIAL PRIORITIES TOGETHER
✅ Discuss both the pros and cons to opening a joint bank account or to maintaining your individual accounts or even doing both
✅ Share money WITH YOUR SPOUSE in a Shared Account
3. Build an Emergency Fund
✅ Aim to save about 6 months' worth of your household expenses in case the emergency is that you have no income
4. Design a Budget
✅ Establish a joint budget
✅ Share responsibilities
✅ Find the right level of risk as a couple
✅ Where important financial and legal papers should be located,
✅ Who ought to be the primary decision maker
5. Track Your Budget
✅ Give 100% of yourself
✅ Trust your spouse
✅ Work as a team
✅ Have weekly money meetings
✅ Bring up touchy subjects with love
✅ Adjust your budget if necessary
✅ Learn from each other
6. Make It a Date
✅ Put a reminder on your calendar to go through your account each month
7. Save for Retirement (10%) (FOR PEOPLE WHO ARE NOT INTERESTED IN INVESTING)
8. Invest (FOR PEOPLE WHO ARE INTERESTED IN INVESTING)
9. Get Out of Bad Debt And Stay Out of Bad Debt
✅ Manage debt as a couple
✅ Workout a plan with your spouse on how to get out and stay out of bad debt
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@FinancialFreedomMagazine
⚊⚊⚊⚊⚊❀❀❀⚊⚊⚊⚊⚊
1. Start Talking About Finances
✅ Your feelings around money
✅ Your income, savings and debts
✅ How much are your monthly bills
✅ How you currently manage your finance
2. Write Down Goals
✅ Establish a goal
✅ SET FINANCIAL PRIORITIES TOGETHER
✅ Discuss both the pros and cons to opening a joint bank account or to maintaining your individual accounts or even doing both
✅ Share money WITH YOUR SPOUSE in a Shared Account
3. Build an Emergency Fund
✅ Aim to save about 6 months' worth of your household expenses in case the emergency is that you have no income
4. Design a Budget
✅ Establish a joint budget
✅ Share responsibilities
✅ Find the right level of risk as a couple
✅ Where important financial and legal papers should be located,
✅ Who ought to be the primary decision maker
5. Track Your Budget
✅ Give 100% of yourself
✅ Trust your spouse
✅ Work as a team
✅ Have weekly money meetings
✅ Bring up touchy subjects with love
✅ Adjust your budget if necessary
✅ Learn from each other
6. Make It a Date
✅ Put a reminder on your calendar to go through your account each month
7. Save for Retirement (10%) (FOR PEOPLE WHO ARE NOT INTERESTED IN INVESTING)
8. Invest (FOR PEOPLE WHO ARE INTERESTED IN INVESTING)
9. Get Out of Bad Debt And Stay Out of Bad Debt
✅ Manage debt as a couple
✅ Workout a plan with your spouse on how to get out and stay out of bad debt
⚊⚊⚊⚊⚊❀❀❀⚊⚊⚊⚊⚊
@FinancialFreedomMagazine