How do newlyweds manage their finances?
1 Adjustment of marital property
Husband and wife should first fully respect each other's consumption habits, even if they feel that each other's behavior is inappropriate, they should not interfere too much and make adjustments on the basis of the same life.
2 Accumulate family funds
Newly-married families are generally in the period of family property accumulation, and have the same family goals: raising children, providing for the elderly, buying a house, purchasing family equipment, and paying for the future. Therefore, in terms of expenditure, we should first sort out the family property-how much deposit, how much investment, how much debt, how much fixed assets and how much cash flow, and then make financial planning.
It is best for both parties to set aside a part of their income as a family fund every month, which can be used for savings, or buy some other wealth management products with safe principal and stable income. If necessary, they can also set up account books to record every income and expenditure, so that both parties can know something about family funds.
It should be noted that families should avoid investing in highly operational products such as stocks to avoid family risks.
3 control daily expenses
Generally, the first task of many couples after marriage is to buy a house. If they borrow money to buy a house, the bank requires that the monthly mortgage amount should not exceed 50% of the family's monthly income, but it is recommended to control it within 30%.
For families without children, if we can control the food expenses within 10%, the installation expenses within 10%, the transportation expenses within 5%, the entertainment expenses within 10% and the miscellaneous expenses within 10%. In this way, the total household expenditure accounts for 75% of the total income, and 25% can be reserved for investment and financial management every month.
4. Reserve education funds
Although "Dink" is very popular among the post-90s couples, from the traditional family concept and long-term emotional needs, it is only a matter of time and the most important expenditure between husband and wife. Children's education costs a lot, so it's best to plan well from the beginning of marriage.
Educational financial management has the characteristics of long time, high cost and little flexibility. In addition to the family life fund, newcomers also need to reserve the "family education fund" as soon as possible, deposit a fixed amount every year, or choose the way of fixed investment in the fund.
Try to choose large companies in the choice of funds, so as to achieve "earmarking" and never use the money until a special moment. In terms of investment strategy, it is suggested to combine regular quota with long-term investment, and on the basis of regular quota, if financial resources permit, increase investment at one time and enjoy long-term appreciation.
Step 5 make an insurance plan
Guard against risks. Once an unexpected risk occurs, it will not only seriously affect the family's psychological state, but also impact the family's financial situation to varying degrees.
If the income of husband and wife is not much different, both of them should buy insurance, mainly considering buying life insurance and accident insurance. It is not only responsible for the family, but also preparing for the elderly. The insured amount is 5- 10 times of the annual income, plus the family's debts and loans, and the premium expenditure does not exceed the family's salary for one month.
Many newcomers feel that they are still young and there is no need now. For such a newcomer, everything should be done before it is too late. The sooner you start managing your money, the easier your life will be.