After the moment of the celebration of marriage, the time has come to deal with the administration of common finances. Therefore, it is better to follow the money saving tips for newlyweds given below.
Prepare your home budget
Remember that now you and your partner form a society, where finances are shared. Therefore, the best strategy they have is to make a budget that allows them to determine mutual income and expenses.
With honesty and communication, they can determine the priorities they have as a couple and what are the primary needs to be met. Also what are the real income of the couple and if these are sufficient to allow savings.
Concentrate banking instruments
It is possible that both you and your partner handle different individual banking instruments, remnants of the single era. For example, savings accounts, checking accounts, and credit cards.
They should consider that having so many banking instruments can mean high monthly or annual maintenance rates. Therefore, it is better for couples to decide which are the most convenient, and there they concentrate savings and credits.
Money saving tips for newlyweds at home
Electricity bills can turn into your headache, if your home misuses power consumption. One way you can use to save electricity is to make rational use of appliances. Also do not forget to disconnect some when they are not in use, since most of them consume electricity even when they are turned off.
Another efficient way of saving you have is to use natural light in the home during the day. When you use natural lighting you also help your health, since it inhibits the growth of bacteria. And for the nights, it prefers the bulbs of low power consumption, of the halogen or led type. These consume a fraction of the energy required by other bulbs.
The same happens with natural ventilation, if you let the air circulate conveniently, the interior can cool. This avoids using fans or air conditioning units, which are the ones that require the most energy.
You must be very careful with the proper use of water, especially avoiding waste. Keep in mind these tips:
- Keep the tap closed when you are not using the water. Keep it in mind when showering, brushing your teeth or using the sink.
- Do not use the water expelled by the hose to wash the floors, so you waste a lot of it.
- If you have a garden, recycle the water. For example, the water with which you wash vegetables has essential nutrients for plants, use it for irrigation.
Among the main money saving tips for newlyweds, is to avoid spending on other redundant services. You should study which of the services they consume as couples are repeated. For example:
- If both members of the couple have cell phones, do you also need to have a landline service?
- Do they need to have the data packet by cable, if they check your emails and access the Internet mostly by phone?
Finally, making a mortgage debt purchase can be key to helping you pay less.