Money Bible for newly weds!

Here are a few tips to get monetarily sorted as a couple.

Never let money come in between marital bliss. It’s all about transparency and keeping a check on each other’s expenses. Here are a few tips to get monetarily sorted as a couple.


For better or for worse, for richer or for poorer, in sickness and in health; wedding vows speak of all those beautiful promises. The beautiful wedding dress, grandmother’s timeless antique jewelry, a perfect honeymoon destination and most of all, a right life partner, is every girl’s dream come true. When you and your partner step into wedded bliss, you don’t want to be burdened with the overshot wedding expenses. We Indians spend a bomb on our wedding festivities, which has become a part of our culture. With the prices of jewelry, wedding destinations and wedding couture skyrocketing, life after wedding takes a beating. Here are a few tips to worry less during your honeymoon period and on making sure your life as newlyweds is a fairy tale.

Trust Your Life Partner —How many times have we read, heard and have been advised that trust is the right foundation of any relationship? Especially with your life partner, you share your happiness, sadness and finances too. If you are looking at a smooth life together, make sure you trust your partner’s finances. If your partner is a shopaholic, talk it out with him or her and figure out what’s the best way to help them understand the rally of huge pocket burners coming up post your wedding.If both of you are working, make sure you let each other know about the remuneration that you draw each month. Stay transparent and revealing your bank balance and other financial details to your spouse will help you design your monthly expenses.

Teamwork is the key —One of the partners may earn more than the other and in a situation like that, don’t burden the spouse who has a lower income. Divide the expenses in a way that you let your spouse feel stress free. If you are earning higher, try balancing the expenses by paying a few bucks more for the necessities. After all, marriage is about standing by each other and making sure the other one is not burdened more than their capabilities.

Risk Management —If your spouse wants to invest in a new business right after the wedding that requires a huge capital, stop him/her! Businesses should have a great foundation which includes taking risks, but within the diameter of safe investments. Wait until all your wedding-related loans are paid for or make trial balance of how much you both will be able to invest post debt clearance. Take risks, but play safe.

Budget Journal —The good old diaries and journals always come handy. Write down all the possible household and daily expenses. Make columns of both your names and start with the salary you draw. Deduct all your common expenses and make a budget for rent, groceries etc. Keep a scale of an amount up to which one can spend on necessities. Keep another column for the amount already spent so can prevent the ‘end of the month’ panic mode.

Shop Wise — When you both move into a new house, you like going all out and buying your dream furniture and a huge wardrobe. Our weddings are a shopping gala. We spend at least 40 per cent of our total wedding expenses on clothes, shoes and cosmetics. That zone can take a break for a while. It’s not a compromise; invest on what’s more important. Go out with your spouse for romantic dinners, movies and all that keeps you together. Have some fun! The phase just after your honeymoon will never come back. Spend money on spending time together rather than on that extravagant Italian couch.

Emergency Fund —When they say save for a rainy day, they mean it! There is nothing more comforting than knowing that your emergency situations are taken care of. Invest in a good medical insurance for starters. There a numerous premium options available and most of these premiums don’t hurt your wallets. Medical or household repairs are all unseen expenses. Make sure you have an emergency fund.


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