When it comes to making a personal budget and dealing with our own money, things are pretty much clear - we manage our money alone and do not consider anyone's needs and opinion about what to spend it on. However, things get more complicated when it comes to dealing with our family budget.
Living with a partner, on one hand, has its advantages - you get two salaries and your expenses are no much different than if you live on your own. On the other hand, both of new have to take the other person's opinion and spending habits which makes things more difficult. The best way to make your budget work is to talk with your partner and clarify the family budget matter from the very beginning. Moreover, you need to plan some communal expenses starting with your wedding or a nice journey, the birth of your children and so on.
Here are a few ideas how to deal with your family budget. The best thing is that these tips really works since they are taken from the real life.
#1. The easiest way to make your family budget work for you is make both your and your partner participate equally in the payment of the bills and other communal expenses. You may determine a certain amount of money that both of you will have to contribute to the family budget. Of course, it is almost impossible to take exactly the same salary as your partner, so you can try to divide your contribution depending on your salaries. What makes this approach the best is the fact that it is quite clear and actually most people find it appealing.
#2. When we talk about our family and benefits, we have to admit that we don't always mean money. If, for example, one of the partners (usually the mother) takes care for the children and the other partner works it is pretty normal that the incomes of the first one will be significantly smaller. However, the first partner's contribution to the family well-being is just as important as the amount of money the other partner earns. All this, of course, is a matter of agreement between spouses. If you are a housewife, for example, you may take care of your household and children and your husband may concentrate on his well-paid job.
#3. If one of the partners does not want to deal with bills and family budget planning and wants to concentrate on other things, these matters always have to be discussed withing the family. There are already countless options that make you easy when paying your bills, fees and taxes. You can do that on-line just for a few minutes.
Once you have chosen the approach when making your family budget, this will make you easier when dealing with your family's money. However, you need to have in mind that there will be some unexpected expenses and larger purchases and you will have to discuss that with your partner. What can we do about that?
#1. One of you wants a TV and the other don't. How to deal with that? If you want to have a TV but your partner doesn't intend to use it, it is normal to save some money for your own comfort and don't over burden your family budget.
#2. If your family needs something like, for example, a new stove or a refrigerator, you will have to turn to your family savings. Of course, you cam tale a lease or a commodity loan, but you better stay away from that. You can also try to save some money for your home improvement, that is a great investment.
Do not forget that family budget is made on the basis of mutual trust, understanding and compromises. The best thing you can make is try to participate equally.
Post a Comment