5 FINANCIAL TIPS FOR YOUNG COUPLES for LIVE TOGETHER !!

5 FINANCIAL TIPS FOR YOUNG COUPLES for LIVE TOGETHER !!
5 FINANCIAL TIPS FOR YOUNG COUPLES for LIVE TOGETHER !!

Around the age of 30, the time has come for many couples to move in together : this involves making very important decisions also with regards to managing their own money.
Bad choices can also negatively affect long-term goals, such as the possibility of buying a house together and saving enough for retirement , which is why it is good to tackle everything the right way.
According to finance experts , couples formed by young people around the age of 30 who are about to live together should behave not as two individuals, but as a single economic reality: this will allow them to achieve certain objectives more quickly.
Here are 5 financial tips aimed at young couples who are planning to start a family:
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5 FINANCIAL COUNCILS FOR YOUNG COUPLES

1. Reduce debt

first home mortgage financial advice

Eliminating or reducing any debt, including those due to loans and finances, should be one of the main concerns for most people around the age of 30: excessive debt can, in fact, compromise the possibility of applying for a mortgage for the purchase of a house .
The focus should be mainly on debts that have the highest financing costs, such as credit cards: a recommended approach is to make the bank automatically withdraw an amount from your account on your payday and apply it to the payment of a consolidated loan, so that the recovery of the debt takes place automatically.

2. Calculate your family budget

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Having a family budget in which taking into account the main entrances and exits may seem like child's play, but when you are in two things could be a little more complicated.
Over time, however, it becomes indispensable in every family unit to have a precise idea of how the money that comes into the house is used , in order to best allocate all the resources and also be able to set aside something for unexpected events and future projects, such as example that of having a baby .
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3. Buy a house

first home financial tips
Working for the purchase of a first home , which includes accumulating a down payment and having sufficient income to apply for a mortgage , is a top priority for young couples.
But we must not make the mistake of focusing solely on this huge expense: even if once a house has been purchased, paying it becomes the main goal for most couples, but it is necessary to continue to think also to other forms of savings , such as that for the pension and.
In this way, once you have finished paying your house, you will also have some money to carry out other life projects and new dreams .

4. Consider the two entries as one

financial advice
If both partners work in the couple, it would be a very gross mistake not to consider the two revenues as one: this is useful, for example, when you are about to apply for a first home loan but also for other forms of financing.
One of the ways to really transform the two entrances into one is to use a single current account , perhaps evolved, with self-categorisation of expenses, so that you can easily understand where and in what the new couple spends their money .
On super-coin , a financial advice blog , you will find updated references with all the main free accounts with advanced features  such as the self-categorisation of expenses, which we discussed above.

5. Dialog openly

financial advice young cohabiting couples
Here is an advice that is always valid, not only in real life, but also for what concerns the management of one's finances : having an open and continuous dialogue with both partners, both on what their own future plans are, and for what concerns their own property, income and debt conditions .
Only by having a clear vision of these aspects, the couple will in fact be able to make the most of their financial resources and thus achieve a solid spending and investment plan .
thanks for the time .

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