5. SET UP YOUR ACCOUNT SYSTEM
How are you managing your money? However you manage your funds make sure you have a discussion and agree to a system that works for the both of you. There are three ways to organize your finances:
- Comingled – There is only one account where all monies are deposited into your own couple account.
- Separate – You each have one account that you manage where your funds are deposited into your own separate accounts.
- Mixture – You have your own account, he or she has his or her own account and you have a joint account.
Make a list of those items to be considered separate. Put a price tag on them to be sure you are spending the right amounts of funds and budget appropriately. Don’t spend outside of your budget if you are operating in a surplus. Don’t get anxiety if you are not able to meet your budget for that month. In a month of surplus, the additional funds go towards savings. In months of a deficit, the shortcoming must be addressed during your couple meetings.
Originally posted 2019-02-28 15:42:26.
