When we are in love we share nearly everything right? Food, car and even clothes. But do couples share expenses as well? If you do, cool! But if you don’t, then you should read this article and find ways to ease your financial burdens. Here are 3 main benefits of doing so.
Share finances to keep track of “his” and “hers” expenses.
A loving couple can be sweet and caring to each other, but when it comes to expenses, they might have a clear categorization. Some of the couples have “his” and “her” own car and this will lead to a problem where who maintains the car? Who pays for petrol and more. But if you shared the expenses, there’s no “MY” car or “YOUR” car anymore but “OUR” car. This can reduce approximately 50% of your daily expenses as well.
Share finances for easy budgeting
Budgeting will be so much easier when you share finances. As when you share, you’ll have something called “household income” where it allows you to look at that number and decide what your spending should be. If each of you keeps separate finances and contributes a certain amount into a pool every month, or divide up the bills to be paid, it’ll be harder to manage your spending and making long term goals.
Share finances for short-term goals
As we just said, if you don’t share finances, it may be hard to create a long-term goal. But if you DO share finances, it may be easy for you to achieve your short-term goals. Planning for a vacation? Tokyo, Europe, Australia? How can you budget for that? Do each of us couples really have to contribute equally? Share a budget and share your finances and every decision will turn easier now.