Money Management for Couple
If you have been married, your money is her money, so does her money. Both parties’ money should be written into family accounting book. Decide together about the posts of expenses. If necessary you can make envelope system to separate the expenses. For example transportation expenses are in the orange envelope. Meal expenses are in the green envelope. Entertainment expenses are in the red envelope.
With these envelope system, both of you will be so easy to arrange family cash flow. This traditional method is very good to control your finance. If you want to skip this traditional method, you can use bank account method. Both of you should have same ATM which is only able to be withdrawn with certain agreement. You can make some percentage of financial management to withdraw money from ATM. For instance the money for meal can be withdrawn if not more than $100 per week.
If you already have kids, you must not ignore their needs. Do not only think about meal aspect, but think about their education and happiness too. You can plan holiday together if it doesn’t destruct your cash flow. Don’t forget to give several percentages of your salary to those who are unfortunate as a part of your sympathy.
Management on Using Credit Cards
How many credit cards that you have in your wallets? People who only have 1 credit card in their wallet have a green light or healthy credit management. People who have 2 credit cards can be categorized into people who like to prepare everything. They are afraid if one credit card doesn’t run properly, so they will use second credit card.
Well, if you already have 3 or more credit cards in your wallet, perhaps you should analyze your credit management. Do you use all of these credit cards, so all limits have been full? If yes, you are in the big trouble. You are a super shopaholic person and can’t control the expenses. Each time you see fancy goods, you are persuaded to buy them. You should think of closing these credit cards or even have no credit cards for a temporary until you are able to discipline yourself for using credit cards. Don’t let credit card as a trap in your cash flow.
Good financial management will develop healthy relationship. You don’t need to borrow money from your friends or family anymore. You can make a priority for spending money and achieve all dreams easily if you really have strong financial ability.