Let’s Get On The Same Page With Our Budget

4 Budgeting Tips For Newlyweds (of all ages)

Some of my favorite people to share how to budget with are newlyweds. There’s this wonderful new beginning for them, and they’re usually anxious to start organizing their lives together.

For newlyweds (or any couple really), it’s always helpful to be on the “same page” about things. Your budget can be a very convenient and useful “same page” when it comes to your 95%.

Photo by: orinrobertjohn

As you build a budget together as newlyweds, you have an opportunity to get on the same page about a lot of things right away. Doing this will help you completely avoid many common money issues and misunderstandings down the road.

Here are 4 ideas for getting on the same page with your budget:

Use GoogleDocs

Nothing keeps you both on the same page easier than having your budget accessible online. Make sure both of you have access to view and interact with your budget, and that you’re both referring to it often. My wife and I have used GoogleDocs for 2 years now, and we love being able to look at our budget at the same time and even chat while we view it.

If you’re not familiar with GoogleDocs, you can get pretty savvy here.

Be Honest

Or, more accurately, be open and clear. Let your spouse know what your needs and wants are. If something is important to you (maybe it’s shoes, or collecting old books, or traveling), communicate that and agree on how to realistically work it into the budget – together.

This way, both of your needs are being met, expectations are clear, and you can completely avoid any “I can’t believe how much you’re spending on ____ !” situations.

Set Goals Together

Remember that your budget should help you get somewhere. Discuss what kinds of goals you want to be working for and how much of your paychecks will be needed to achieve those goals. Debt elimination and savings are easy to attach numbers to, but don’t forget “fun” goals, or lifestyle goals you both want to achieve.

Reevaluate Regularly

Your budget should help you start a conversation. As you review your budget with your spouse, you can look for areas you want to cut back, or areas you might want to add funds to. Instead of speculations and exaggerations, you’ll have actual numbers to go with your conversations.

The sooner you get on the “same page” the better, but of course it’s never too late.

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