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6 Practical Financial Management Tips for Newlyweds

Marriage is a new beginning of a shared life and with it comes new rewards and challenges — both emotional and financial. Planning your new financial goals is an important step in securing a strong long-lasting relationship. Finances play a major role in married life. Building a strong financial foundation from the very beginning, with the help of independent financial planners, can help you clarify and strengthen your dreams and goals.<br>

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6 Practical Financial Management Tips for Newlyweds

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  1. 6 PRACTICAL FINANCIAL MANAGEMENT TIPS FOR NEWLYWEDS www.yourfuturestrategy.com.au

  2. www.yourfuturestrategy.com.au INTRODUCTION Marriage is a new beginning of a shared life and with it comes new rewards and challenges — both emotional and financial. Planning your new financial goals is an important step in securing a strong long-lasting relationship. Finances play a major role in married life. Building a strong financial foundation from the very beginning, with the help of independent financial planners, can help you clarify and strengthen your dreams and goals.

  3. HERE ARE A FEW FINANCIAL MANAGEMENT TIPS FOR THE NEWLYWED COUPLES, TO HELP YOU SECURE YOUR FINANCIAL SUCCESS: Talk About Finances and Write Down Your Goals Discuss Bank Accounts Build an Emergency Fund Make a Budget and Keep a Track of It Save for Retirement Get Out of Debt and Stay Out of Debt www.yourfuturestrategy.com.au

  4. TALK ABOUT FINANCES AND WRITE DOWN YOUR GOALS Talking about finances is something that should ideally be done before you get married, and if not discussed, as soon as possible. Discuss with your spouse any assets that might become shared and how much debt you carry. This allows both of you to determine a plan on how to best handle it. Also discuss your long-term financial goals in depth. Write them down and review them over periodically. WWW.YOURFUTURESTRATEGY.COM.AU

  5. DISCUSS BANK ACCOUNTS Maintaining both joint and individual bank accounts have their own pros and cons. Discuss with your partner the possibilities that will suit both your needs and decide on options you both are comfortable with. WWW.YOURFUTURESTRATEGY.COM.AU

  6. BUILD AN EMERGENCY FUND The top priority of your financial planning should be an emergency fund. It is simply keeping away some money for unexpected expensive expenses like a lost job, natural disaster, medical emergencies or home repairs. When creating an emergency fund, aim at saving about 6 months’ worth household expenditure. Creating an emergency budget is also a good idea as it can give you a sense of financial security and peace of mind. WWW.YOURFUTURESTRATEGY.COM.AU

  7. MAKE A BUDGET AND KEEP A TRACK OF IT Firstly, make a list of your shared income and all your shared and individual bills including regular expenses like food, dining out and entertainment etc.Making your own budget using a simple spreadsheet is an essential part of learning to stick to a budget — it’s near impossible to stick to a budget if you don’t have one! Remember budgets can be adjusted and changed as circumstances in your life change. WWW.YOURFUTURESTRATEGY.COM.AU

  8. SAVE FOR RETIREMENT Planning long-term financial goals is an important step for all couples. Take some time and thought to determine what lifestyle you would like to have when you retire. Check your superannuation plans are going to work for you. It is always recommended to seek the advice of financial planners in regard to Self Managed Super Funds and other retirement plans. WWW.YOURFUTURESTRATEGY.COM.AU

  9. GET OUT OF DEBT AND STAY OUT OF DEBT Debt can be damaging to desired lifestyles and to marriages.Most couples are not in a position to buy a house or live their desired lifestyle without going into some form of debt. The trick is to manage that debt. It’s always recommended to speak with a financial planner to discuss the best financial solutions before making any large purchases. Plan smart with the leading consultants in Australia! WWW.YOURFUTURESTRATEGY.COM.AU

  10. THANK YOU! Address: level 19/50 Cavill Ave, Surfers Paradise QLD 4217, Australia Phone: +61 1300 987 678 FOR MORE INFO, VISIT: WWW.YOURFUTURESTRATEGY.COM.AU

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