Article_Image.jpgSo, you’re in a relationship and everything is going great. You plan out of town trips, you buy each other nice things, and you eat out at the best restaurants. Things are going good until, one day, you realize you’re low on funds. You look into your bank account and realize you’ve been overspending and slowly eating into your savings. All of a sudden, your future plans seem to be pushed back all the time. And then you argue. Sound familiar?

Nowadays, everything is getting more expensive and sometimes, being in a relationship can actually become a financial burden. It might be a little difficult, but make the time to sit down with your boyfriend and seriously discuss financial issues. The make out session can wait for now. Here are a few basic points to get you started, with more detailed tips in the slide show below:


1. DETERMINE TAKE HOME PAY

How much to you get in your accounts separately will set the course on how comfortable your lifestyle together will be. Remember that until you are married, nothing is automatically conjugal!


2. DETERMINE WHO IS RESPONSIBLE FOR WHAT EXPENSE

On a separate part of the paper, write down everything you pay for, then everything he pays for at your homes. Electricity, water, internet, landline, groceries, parking, food, and all other bills must be written down. Leave no stone unturned!


3. DECIDE ON HOW MUCH YOU WANT TO SAVE
 
Ten percent? Fifteen percent? A fixed percentage instead of a fixed amount (ex. Php2000 every payday) may hurt now, but will pay in dividends later on when you need it the most.


4. BUDGET ACCORDINGLY

The only time you really budget is when you have set aside your savings and not the other way around. Withdraw your savings and put it in another bank, put it in a strongbox, give it to your mom, bury it underground, just so you won't have the temptation of spending it! Anything you have left over after savings and your budget is your "profit", or spending money!

Once you've determined how much spending money you have, spend it wisely! Here are 8 tips we've gathered that will help you cut corners so that money won't be that big of an issue anymore.

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(Photo courtesy of sxc.hu)

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