The moment we were married (and even a little before) my husband and I knew we needed to start saving money. He was a medical student and even though I had a job, it was primarily for helping get the bills paid without going any further into debt each month.
Saving money is tricky and often it’s something you need to focus on and sit down and discuss as a couple to make sure you are both on the same page. Here are some ways to do that.
1. Write down the steps you need
Don’t just sit down and talk about what you are going to do, write down the steps you need to take. Decide how much each of you is going to set aside per week/month to put into savings and vow to stick to it.
2. Set up a separate savings account
Every couple handles their finances differently, but whether you create a joint account or separate individual accounts doesn’t matter. Set up a separate savings account where you contribute each month/week and make it go in automatically. You’ll never need to worry about it this way. You will be amazed at how quickly it adds up!
3. Simplify your date nights
This doesn’t mean you can’t do anything, it just means you need to get creative and find things to do together that don’t involve money all the time. You will be surprised how much fun you can have grilling out on your back porch, taking a walk, or just sitting outside talking. Of course, you can still have your big date nights as well but save them for once every two weeks to help save money.
4. Set precise goals
My husband and I started saving by deciding that when he was finished medical school a chunk of what we saved would go to either a down payment on a house or to pay off some of his student loans. We know what we are saving for and that helps make it easier to put the money away each month.
5. Reward yourself
Saving isn’t always about putting money away and NEVER getting to touch it. Once every 3 months, my husband and I make a point to take a SMALL amount from our savings and go do something fun with it. Sometimes we will each go shopping and buy something we want and other times we spend it on a nice weekend away. Reward yourself every so often and it will give you something to look forward to.
The key to saving as a couple is to make sure you are in it together. Set common goals, talk about your plans for the future, and make sure you are on the same page. Money can be the number one issue in marriages, so start your marriage off with it all out on the table!