This is Why You and Your Partner Should Have a Budget Together

Pennygem

Money matters are often a point of contention for couples and the success of your relationship could come down to effective management of finances. Which means you need a budget. PennyGem’s Chloe Hurst has the story!

Transcript

00:00money matters are often a point of contention for couples and the success of your relationship

00:08could come down to effective management of finances which means you need a budget pink

00:14villa says a budget is a blueprint for managing your finances and the key is to create a financial

00:20strategy that works for both or all parties involved to start building a strong financial

00:26foundation determine your actual combined income this may mean looking beyond your regular salary

00:33to things like rental income bonuses or side hustles to work out what your expenses are and

00:39then do your best to track them this is really the only way to know if you're staying within your

00:44budget consider a shared budgeting spreadsheet or downloading a budgeting app continue the cash

00:50conversation with your partner having a recurring budget meeting will ensure an open line of

00:55communication and that regular relevant revisions are made this money meeting doesn't have to be

01:01dreaded and stressful consider doing it over a meal and make it a date night just make sure

01:07whatever you've spent on takeout is added to your expenditure list

01:11you

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