Best Ways To Save Money In Your First Year Of Marriage To Stay Happy

First year of marriage is most crucial and complicated, you make many adjustments and compromises to sail though it and still feel connected. As a couple you often fight and argue over a few things and among those few things, financial matter is one of the important aspects. It is important that you should take financial matters very seriously in your first year of marriage to avoid any kind of struggle and argument in my married life. Once you are married it is important to think about financial matter seriously and plan perfectly. Here are some best ways to deal with the money related matters in systematic ways in the first year of marriage.

Calculate your monthly expenses: Initially, it is really difficult to calculate and regularize your monthly expenses. Try to learn from your spending habits and calculate your monthly expenses. Try to understand how much money you are spending on different things and how to minimize your extra expenses.

Make a monthly budget and stick to it: Once you are aware of your monthly expenses, it is always suggested to make a monthly budget and stick to it. A monthly budget is the best way to manage your expenses. Don’t cross your monthly budget, stick to it religiously to save money on month-on-month basis. It will help in minimizing the unnecessary expenses.

Plan your big purchase systematically: If you are planning to make a big ticket purchase like buying a new car, buying your own house or planning some international trip where you are supposed spend more than one lakh, then it is always better to plan that systematically. It is always better to save some money and purchase, rather than buying something on loan. It will increase your financial burden and affect your overall budget.

Always maintain a contingency fund: After marriage it is important to maintain some contingency funds to stay tension free. If you think that your monthly expenses are more than Rs. 50K per month and you need at least Rs. 50K per month to survive, then it is better to keep at least Rs. 3 Lakhs in your account to face any worst situation in future like if one of you will be jobless for a few months or met any accident or something else.

Stop spending money on things you don’t use: It is always good to spend smartly to keep a cap on your expenses. If you think that you are going to use something once or twice then don’t buy that thing because it is very attractive. It is better to avoid such purchases. Buy only those things which you think that you are need then and you will use them.

Don’t spend unnecessary on gadgets: Are you among those couples who love to buy new gadget frequently just to get the latest model. Resist the temptation of buying the latest version of your favorite gizmo. It will just increase your spending budget nothing else.

Avoid borrowing loan: Try to make all small and not so small purchases with your debit card or from your savings, rather than borrowing the money. It is always better to avoid purchase from credit card or borrowing personal loan. It will further increase your financial burden and land you into the vivacious cycle of loan.

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