So you’ve finally decided to move in with your significant other. You’re definitely excited for this new chapter in your life. Certainly, there are a lot of great and memorable moments you’ll share. But aside from these experiences, expect a rollercoaster ride with all its ups and downs – and different kinds of compromises and benefits in between.
Among many things, finances are a reality that will surely sneak into the picture. They can either strengthen your relationship or break it. So, you have to learn how to ‘give and take’ when it comes to finances.
Some couples may have already developed a consensus on how they’ll handle this reality. For instance, during the dating stage, they split the bills or check on the partner’s spendings. But once you’ve moved in, there are a lot more other financial considerations and expenses. This makes it very important to learn how to save money as a couple.
1. Avail of rewards programs
Save some extra bucks by taking advantage of free customer rewards programs. You can find these free trials in gas stations, groceries, and supermarkets. There are also free trials online for media services such as Amazon Prime and Netflix.
2. Budget dates
Now that you’re on the next stage of your relationship, you might want to consider budget dates instead of going out to expensive restaurants, sports games, and concerts. Enjoy a date night on your couch watching a movie, go see a local band or go for a hike. These are cheap dates that can surely save you money.
3. Consolidate bills
If possible, consolidate your expenses to save on these recurrent bills. Some bills you can consolidate include digital subscriptions, magazine subscriptions, and mobile phone bills.
4. Start saving for wedding costs
If you’re planning to take your relationship to the next level through marriage, you should start saving early. Read different wedding and engagement ring reviews to help you find the best deals. You can also begin scouting for an affordable venue. Some wedding coordinators and service providers would even offer discounts for early bookings.
5. Reduce subscriptions
It’s unfortunate that a lot of us pay for unnecessary subscriptions like cable bills, magazine subscriptions and other online subscriptions that we hardly use. Check your billing statement and see which ones you can get rid of.
6. Choose secondhand items
If you need furniture for your apartment, you can opt for used household furniture. You’ll be surprised to find high-quality furniture sold at very low prices in yard sales, thrift shops, and flea markets. With just a little bit of cleaning, dusting or vacuuming, these furniture pieces can look brand new.
7. Save on grocery
Households spend a huge chunk of their money on grocery shopping. But the good news is that you can also save big on grocery. Instead of buying necessities by pieces, you can buy in bulk for more savings. It would also help to make a list of grocery items before going to the shop to avoid buying unnecessary items.
8. Cheap vacations
Vacations are always part of a happy relationship. But the problem is they can be pretty costly. Plan your vacations long ahead and look for the cheapest options, from transportation to hotels to foods. If possible, you can prepare your own snacks for the vacation. Also, you might save some bucks by joining group travels.
9. Consider sharing your finances
Combining finances often works for some couples living together as it helps them become aware of the expenses of each other. It should also make sharing in the household expenses a lot easier. By opening up your finances to your partner, you can avoid running into petty quarrels that can escalate into a major relationship issue. You can decide to open a joint account to help you plan and manage your finances well.
10. Say no to credit card
If you want to save money, you better stop using your credit card. Although swiping your card for purchases can seem harmless (even beneficial as it can boost your credit score), be ready to pay the costly charges, fees, and interest rates. Over time, you’ve actually paid thousands for the interest alone and not even the principal amount. Furthermore, this piece of plastic can make you a little bit trigger happy which can end up in serious financial consequences.
Saving money as a couple can seem like a daunting challenge. You need to make changes in the way you spend and save. It calls for sacrifices and compromises. To achieve all these, you need to be open with your significant other and accept the fact that finances would be a normal part of your relationship. Once you’ve got past these challenges, it will surely make your relationship stronger!