After passing through all the emotions that involve the big moment of "yes", the lovebirds face a practical challenge, which is dealing with new finances . In a marriage, the two people often lived with their parents and now that they have decided to venture into life together, they start to accumulate responsibilities and have expenses that they did not foresee. With so much news, it is natural that there are many financial mistakes of newlyweds. So let's point out the main ones here to help you avoid them! Check out:
Lack of planning
When they take on a new home, the couple is faced with expenses that before they were not even concerned, because their parents took over. This is where the bills for water, electricity, telephone, IPTU, IPVA, rent and condominiums come in - or the installments of a financing for the long-dreamed apartment. The lack of experience of young couples often results in a deficit of income in relation to expenses (which are many) and they end up in debt. This is especially true because the dream of many couples is to acquire their own property and do not have the money in sight. And then, a snowball starts, because when entering the overdraft or making loans the charges are very high.
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For cases like these, it is always important to remember that some construction companies offer financing plans with facilities according to the needs of each couple. Thus, the pair is able to program more safely, getting rid of rent without compromising family financial planning.
Fail to make an emergency fund
However, no matter how good a couple can plan, there will always be unexpected expenses, such as equipment that breaks down, a car that needs maintenance or else one of the parties may lose their job, a situation that everyone is exposed to. So it is highly recommended that they save a portion of their earnings to be more relieved at times like these. Ideally, this margin should cover at least the expenses for 3 months of the couple's basic expenses.
Not knowing how to merge finances
When two people decide to get married, many accounts will be together. So you need to find a way to mix finances so that both parties are comfortable. The tip of the experts is to open a joint account for the expenses of the house and each maintain their individual account, so they are free to decide expenses that are not necessarily of common interest to both.
In many cases, each person receives a salary very different from the other, so the accounts do not necessarily have to be divided half and half, each one can contribute proportionately. The couple must have a frank conversation about it.
Don't think about investing together
Every couple has dreams. And they must be taken seriously. For this reason, the duo must seek to establish goals and join efforts to achieve them together. Whether it is a new home or a desired trip, you should set deadlines and monthly values ??to save yourself. Of course, this needs to be done after they are able to accumulate an emergency fund.