After the fun of posing for gorgeous wedding photos and eating delicious cake dies down, it’s time for any couple to start planning for their future. From finances to family planning, there are many things that newlyweds need to think about and plan for if they’re to have a happy and successful future. Here are some of the ways you might consider spending together as newlyweds to get the most out of your finances.
Make Major Purchases Together
One important tip that will help you manage your finances well is to make major purchases together rather than individually. Things like a home and furniture need to be planned well in advance in order to make the best and most reasonable purchase. This is because they tend to be costly and will serve both of you, so it’s best to plan for their purchases jointly.
Another purchase is your car, which can be bought in the most economical way possible. Get one car to use together so you can get one that ticks all your boxes without unduly straining either of yourselves. A study by the Buhl Foundation in 2019 found that every year, the driver’s licenses of more than 57,000 people aged between 18 and 24 years are suspended. For this reason, it’s important to take every measure possible to ensure that you drive safely and don’t end up in a similar situation yourselves, which will undoubtedly cost you money.
Make Your Home Energy-Efficient
Another important money tip for newlyweds is to make sure that the home they’re living in is functioning as optimally as possible. To this end, it’s good to get energy-efficient appliances that have a good energy-star rating. These will ensure that you minimize your energy use in your home and enjoy savings on the energy front.
While at it, it’s advisable to get good window treatments as they can make a big difference as far as the energy spent indoors goes. They can help keep the house cool in hot weather and also save your furniture and other items indoors from getting UV damage. With aluminum blinds being available for all sizes of windows, you could get them as they’re affordable. They’re also one of the window treatment options that are very low maintenance and that last the longest, so you can’t go wrong with them.
Plan in Advance For Entertainment
Finally, all work and no play will invariably make any newlyweds moody and so it’s good to plan for entertainment. Set a budget and include entertainment in it, sparing a reasonable amount of money for it so you don’t overdo it at any point. With more than 200 million copies of Minecraft having been sold as of May 2020, it’s clear that many people enjoy gaming. With this in mind, look for a common activity that you can enjoy as a couple and allow for some money to go towards it each month or every week.
To break the monotony, you could also set aside some money for individual entertainment, but set this amount a bit lower than the joint entertainment one. When you do this, you will no doubt get the best for yourselves and enjoy a break without breaking the bank. You will be less likely to splurge on things and activities that may not be worth it when you look back on them in the future.
These three tips should help you manage your money well and get the most out of it. Since you’re now more of a unit than two individuals, this should be reflected in your finances and the way you plan them out!