Admit it, being a wedded couple is not an easy feat. While life is more worthwhile to have someone to hold on in this journey, there are hurdles that will definitely slow you down. As a couple, it is your responsibility to solve those problems together and pass them with flying colors. Here are some practical tips couples can use to keep their budget in check.
Stick to your monthly budget
Creating a list of monthly expenses is just easy: key in your income, add your monthly bills, and there you have it. However, the hardest park of making an outline of your monthly budget is sticking with it. Once your money moves beyond your monthly trajectory, it can heavily impact your finances and start a domino effect on your budget.
Consider thrift shops and secondhand stores for furnishings
No one wants to live in an empty house. However, buying brand new furniture and fixtures can really puncture your wallet. If you prefer function over style, try scouting for settees and even appliances at thrift shops. Secondhand items can provide you with basic needs without paying premium.
Skip the luxurious vacation for now
As a couple, there are far more important things to achieve such as stable cash flow, decent yet modest lifestyle, and secure housing. If you are planning to go to Japan or tour around Europe for your next anniversary, you might want to skip it for now—and just enjoy each other’s company. Meanwhile, you can also consider local destinations that are much cheaper and more accessible. Finally, never rule out staycation from your list, since it still offers the same relaxing and fun experience of the vacation sans the huge expenses.
Spend less time in front of the television
It can be hard to kick the habit of watching TV, but tuning out can do more than just cut down your electricity bill. While you can save at least PhP 300 every month for unplugging the television at least 5 hours per day, there are far better benefits offered by not using the television. Advertisements, which feed your insecurity and fear, will only increase your impulse to purchase unnecessary things. Also, there are far better and more productive things to do than watch late-night celebrity gossip and hammy dramas. There’s a reason why some people call it “idiot box.”
Save for a rainy day
Some couples tend to call it quits when a huge obstacle tests their relationship. For instance, accidents, debts, and other unforeseen circumstances that cost money can burn their fuse quite faster—and the results are quite devastating. To prepare for the worst that is yet to come, keep a portion of your monthly budget for your contingency fund. Make sure that it is a separate account from your individual or joint savings account.
Dine in rather than order a delivery or to-go
Learning to cook for you and your partner can make your monthly budget go a long way. Instead of buying microwaveable meals or ordering takeouts, just grab a few ingredients from your refrigerator and cook. If you don’t know how to cook, there are thousands of resources available online or you can enroll in a weekly cooking class. Aside from having meals with a personal touch, you can also ensure the quality and nutritional value of your food.
With these tips, you can cut down your monthly expenses while keeping your lifestyle still decent. With the right mindset and goals, frugal living isn’t as bad as you think.
In need of additional budget? Compare personal loan with low interest rates with our comparison tool.