4 Tips Couples Can Use To Put Money Back Into Their Savings
When one person in the relationship has one mindset and the other something else, it can cause friction to occur. Therefore, these differences must be addressed
If those differences are about your finances, it’s extremely important to deal with them. After all, extra money in the household means paying off credit cards, student loans or other things. It could help you to start a family or put money down for a home.
How can you and your significant other save money for “rainy days”?
Do you go out to have a date? There are many couples who spend one night a week out of the house at an expensive restaurant and then enjoy a movie together. This kind of evening can run you $100 or more.
If the goal is to save money, consider how you can keep the date night tradition. Instead of spending widely, set a spending limit and work within that limit. Consider a night of no-technology where the electronics are turned off, or do a Netflix/Hulu marathon, do some cooking together and veg out. You can also pull out the kitchen table to play some board games or do a puzzle.
The point behind date night is to spend time together, not spending money while spending time together.
No Eating Out For A Month
How much money do you spend outside the home, eating out? The amount of money you spend on vending machine food, hot chocolates and fast food adds up fast. Pick a month where you make all the meals at home and eat the leftovers for the next month. Avoid the fast food urge or getting something from the vending machine. Once the month is over, consider how much money you saved.
Forget The Gifts
When you’re trying to reach a certain financial goal, consider not buying presents for each other. Couples often spend hundreds of dollars on one another for Christmas, birthdays and anniversaries. However, if you put that money toward a savings account, how much would you have built up? In the end, you’d have a gift still.
Stay Home For Vacation
Rather than leaving out for your yearly vacation, consider staying home and doing things together. Go for hikes, a picnic, at-home wine-tasting adventure or rent movies. Partake in the fun of activities that are near your home and are cheap to do. The goal is to save money and still relax instead of becoming stressed from the money leaving your checking/savings account.
Keep Track Of Your Money
Make sure you have a money log nearby to write down the amount of money you saved not paying or paying less for. You can start to get excited when you see the savings increase and help you to attain your financial goals.
Sure, it can be fun to splurge and enjoy a great meal together. However, the goal is to spend time together, not spending money together. If you make the sacrifices and work hard together, you can improve your financial standing as well as your relationship.