Having a budget as a couple is not an easy thing. Me and my girlfriend have one and I’ll be the first to tell you it takes a lot of adjustments. I have definitely learned a lot going through that. Here’s some tips to get you through it.
Talk about how you feel about a budget. If you’re both not ready for one then it’s not going to work. Go over the whole budget together and talk about each category. Make sure that you agree on how much you are going to spend on the categories. The important thing is to talk about it and make sure that you let your feelings out. If you have a problem let it be known. If you don’t let the other person know about it, then they won’t know why you can’t stay in budget.
Doing a budget with two people can end horribly if there is no compromise. The process of give and take in a relationship applies to a budget as well. With me and my girlfriend (Beth), she’s more of a spender. In order to accommodate that I have to save a little less but her spending gets put under control with the budget. So it’s give and take.
Know Each Other
This goes somewhat with compromise but know if each other are spenders or savers. I’m a saver but she’s a spender. I know she likes to buy things, so there’s a place in the budget to spend. I like to stay in but she likes to go out, so there’s a little more in the entertainment category. It’s easy for me as a saver to say “Why don’t we just save our money instead of going out”. But It’s just as easy for her to say “Why don’t we just go out and enjoy life instead of stay cooped up all night”. So we adjusted the budget to be able to go out a little and save a little.
I used to get upset when we would spend more than we budgeted for but after talking it over with her I decided to increase the amount we could spend on certain categories. Just having that extra breathing room decreased my stress level and we actually ended up not spending as much as we budgeted for and saved more money than I planned.
In the end, the important thing is that you are both happy. Life is too short to be upset at every little thing and be stubborn. If you can create a budget together, you have a great future ahead of yourselves.
Have you had any issues making a budget with your significant other? What did you do to get through it?