28 C
Friday, February 28, 2020

Tips On Budgeting After Marriage


40 Best Foods for a Glowing and Healthy Skin

Your skin says a lot of things about your health, it gives the first impression about you and it makes you more attractive and...

Types of Eldercare – Your Options for a Dignified Old Age

Eldercare is the care provided to senior citizens when they are physically incapable of taking care of themselves and living alone.This care is inevitable,...

What is Anti-social Behaviour?

Anti-social behavior is defined as any action or actions that violate what is socially acceptable in ways that reflect disrespect or disregard for others,...

3 Ways Supplements can Bolster Your Life

While there’s plenty of controversy over taking supplements and vitamins, it’s hard to argue with the fact that it’s nearly impossible to get 100...

Top 12 Misconceptions About Having Sex With a Physical Disability

It is unfortunate that people with disability are taken differently from other people and they have to deal with stigma and misconception on daily...

Ear Infections: Causes, Types, Prevention and Natural Remedies

Ear infection is a common infection in humans, it occurs when a microbe infects parts of the ear and the inflammation and buildup of...

When Your Loved One is Diagnosed With Alzheimer’s

Hearing a loved one get a diagnosis of Alzheimer's can be a terrifying and sad moment for your family. Often, it is the beginning...

6 Tips on How to Stay Sane During Studying in College

College can be very hard on a student. Finishing every task in time and preparing for exams is never easy, but it is very...

Gestational Diabetes Mellitus: Causes, Symptoms and Treatment

Gestational Diabetes is also called Gestational Diabetes Mellitus (GDM) or Diabetes during pregnancy. Gestational diabetes is a form of an elevated (high) blood sugar...

Vicarious Menstruation and Other Period Myths Unveiled

Have you heard of Vicarious menstruation? here's the history you never heard about.Menstruation is a very popular topic and you probably have read and...
Loveth Oghara
Interesting, Smart, and Simple

Creating your first monthly budget as a just wedded couple can easily end up in unnecessary fights and arguments. But if you can see through those arguments, you’ll discover the importance of planning together and helping each other achieve your financial goals.


Why do You Really Need a Budget as Newlyweds

Below are some reasons why you need a budget as just wedded couples. Budgeting will help you to achieve the following;

  1. To help direct where your money goes, how it is spent.
  2. To know where, when and what you spend money on monthly.
  3. To help you know how much you saved within the month.
  4. To plan ahead.

Benefits of Budgeting to Newlyweds

After knowing the reasons why you need a monthly budget in your home, it is also important for you to know its benefits. Some benefits of budgeting together include;

  1. It helps you connect with each other in a way you’d never imagine because both of you have agreed on how to spend your finances.
  2. Your communication becomes more open to each other on financial issues, and other life issues and also intimacy is strengthened.
  3. It will help to keep your marriage on the same page.
  4. It helps you to work together as a team by setting financial goals and achieving them together.
  5. It helps to build a strong foundation for marriage by identifying areas where you’re not using money wisely.
  6. It helps to reduce the chances of having money fights by becoming financially disciplined.

Budgeting Tips for Just wedded Couples

  1. Make sure you practice empathetic listening when creating a monthly budget together to help understand each other’s needs.
  2. You should learn to compromise sometimes especially when you know that what you need is less important at that point in time.
  3. Remember you both have an equal say in the things that you are budgeting for. So you should be open to each other.
  4. Before taking a decision, you should first put yourself in the other person’s shoes to know why they believe that an item is really needed by them or why you both should put so much money on something.

A Sample Budget List of Monthly Expenses for a Newlywed

Below is a sample list of a newlywed budget.

  1. House rent
  2. Food: This will include food stuff, provision, and snacks that will last for a month.
  3. Utilities: This will include electricity bills, telephone recharge.
  4. Health: It will include health insurance, gym, food supplements, prescriptions, etc.
  5. Investments, savings and retirement accounts.
  6. Entertainment: Recharging of cable.
  7. Debt: Payments of any debt incurred before or during the time of marriage.
  8. Transportation: Car maintenance, generator maintenance, filling of gas.
  9. Education: School fees, books, and other school supplies.
  10. Miscellaneous: Gifts for an event within the month, and other unexpected events that can happen within the month.

How to Create a Monthly Budget as Newlyweds in 7 Simple Steps

Beautiful bride and groom

Step 1: Sit down with open minds and discuss with your spouse the reasons why you need a monthly budget as a family and the benefits of budgeting.

Step 2: Identify all your sources of income for the month. Whether it is your full-time job, part-time job, donations, side hustle, etc. and write down the total income you’re expecting for the month. This is very essential.

Step 3: Make a list of the things you will both need to pay for or bought within the month in order of importance that is listing from the most important things to the least important ones.

Make sure you include savings. Then you can write down what to do with any extra cash, for example, additional savings for a vacation, school expenses, pay off loans, etc.

And if you realize that your expenses are more than your income for the month, then you need to cut off the less important stuffs and re-budget. You can also start a side business to help you earn more money.


Step 4: You have to agree or compromise on all the items in your budget. At this point, you’ll need patience and effective communication skills as your first monthly budget will probably be the longest and hardest.

Step 5: If you decide to have personal spending money, take it out in cash so that you don’t overspend. During your first budget, it is helpful to use cash as it will help you stay within your budget and you’ll also see and feel the money leaving as you’re spending. You know you’re done spending for the month when the cash envelope is empty.

Step 6: You should understand that your budget won’t always be perfect and it will always change from month to month. You can also have a visual aid or a budgeting app to help you monitor your progress throughout the month.

I’ll suggest you go over all your spending at the end of every week to know if you’re following the budget properly.

Step 7: Budgeting for the next month, you can use the same budget plan and adjust the necessary areas. You might need one or column less or one or more new columns for the next month’s budget.

How to Stick to Your Monthly Budget?

Sometimes creating a monthly budget is more easy than sticking to it. Here is how you can learn to stick to your monthly budget.

  1. Discuss and write down your budget five days to the start date for your next month budget. Ensure your budget starts from the first day of each month.
  2. Pick a day to review your budget together weekly. It will help you track how you are spending your money and if necessary make adjustments.
  3. Commit yourselves to do a budget for at least 3 months to help you get used to the system.

Should you combine your accounts?

You may not necessarily combine your accounts, but you can open a joint account where you put all the money you have planned to spend for the month.

Even if you don’t combine accounts or operate a joint account where you keep money against budgeting, your marriage will still benefit from budgeting.

Some Budgeting Tools

Below are some free and paid budgeting softwares and apps that can help you create a monthly budget.

  1. Budget plus
  2. You need a budget
  3. Mint
  4. Microsoft money plus sunset deluxe
  5. Toshi Finance
  6. Ace money lite.
  7. MoneyLover

More articles


Please enter your comment!
Please enter your name here

Trending now

Eating Vaginal Discharge and It’s Health Benefits

For many people, vaginal discharge is a sign that a woman is ready and willing to have sex. Vaginal fluid is a whitish fluid...

Coronavirus – Facts, Types and Symptoms

Coronaviruses are a type of virus that mainly affects the respiratory tract of humans and other mammals. These viruses are associated with pneumonia, common...

Blocked Fallopian Tube – Causes, Symptoms and Treatment

The female reproductive organ that connects the ovaries and the uterus is known as the Fallopian tubes. During ovulation every month, which occurs around...

Genital Warts: Do They Go Away Naturally? What to Expect?

Human Papilloma Virus is the causative organism for genital warts. The virus is available in various strains, and it can be contacted by many...

Skin Rashes: Causes, Symptoms and Effective Home Remedies

Skin rashes are common skin problems experienced by millions of people worldwide; it is characterized by a visible change in the color and texture...

Breaking News! First Case of Coronavirus Confirmed in Nigeria

The Federal Ministry of Health has confirmed a coronavirus disease (COVID-19) case in Lagos State, Nigeria.A statement issued by the Minister of Health, Dr...

Anklet Charms and Hot Wives What Do They Mean?

Women all over the world love to accessorise. From putting on necklaces to wearing makeup and buying the latest trending clothes, women are ready...

Photos of Women’s Orgasm Faces Show True Female Desire Is Nothing Like Porn

A photographer has captured women’s faces before, during and after they orgasm to lift the lid on real female sexuality.Brazilian photographer Marcos Alberti said...

Kinky Sex Punishment Ideas You Should Try

Is your submissive being a spoilt little brat? Are you noticing some unwanted behaviour? Do not be dismayed. Sometimes subs can be naughty, and...

How to Increase Appetite in Children Naturally?

Poor appetite is the leading cause of malnutrition in children; every child pass through this phase at a point in their lives, others make...

Is Zobo Drink Healthy for Pregnant Women?

Zobo drink is a popular drink in Nigeria and it is loved by many; this common drink is made with hibiscus flower and it...

Male Hypogonadism – Types, Causes, Symptoms, and Diagnosis

In the world today, we have two genders, the male and the female gender. What differentiates us is the kind of hormones that are...

Swiss Medica Review: Who is Stem Cell Therapy Suitable For?

There is a growing number of difficult-to-treat diseases that people are suffering from. Stem cells offer great promise for new medical treatments. Read on...

Surprising Health Benefits Of Mango Leaves

Mangoes known as the king of fruits are common and popular fruits in Nigeria, there are very common from February/march till the middle of...

Avoidant/Restrictive Food Intake Disorder: Causes, Symptoms, and Treatment

Most of the time, children are picky eaters. Parents have to find tricky ways to get them to eat healthy or even to eat...