Tips on Financial Plan when start married life

Of course, besides love and understanding, the important thing after you start your married life or move to live together is finance. When you live with your lover, there are costs that you two have to manage such as water bills, electricity bills, accommodation costs, travel expenses, and household goods expenses. 

Today, ACU PAY will recommend a financial plan for couples that are going to start their married lives to share their moments in life smoothly.  

Tips on Financial Plan when start married life

1. Check each other’s incomes and expenses

Before starting married life together, the first thing that you need to do is check the financial situation of each other which is called Financial Health Check. Couples need to share their current financial situation to let their lovers know, especially liabilities such as house loans, car loans, and family debt, including burdens they are bearing both in the past and future. 

Then, totaling all of the debts and period that you have to bond with those debts to prevent one party from being affected by the debt burden legally. For example, what kind of marriage registration plan would be more appropriate for a couple’s situation? register or not register a marriage certificate.

The next step is to check the incomes of each other to see which one is passive income and which one is active income. This is done to check the cash flow that will flow into the family to see whether it is enough to manage all expenses and future goals that they have together or not. If it is not enough, how to make plans to get additional income? 

2. Share goals with each other

After knowing each other’s financial information, the next step that lovers should do is to share their goals with each other. These goals can be personal goals and goals that they wish to achieve with lovers in the future.

Personal goals such as retirement or medical expenses for parents, while goals that they wish to achieve together in the future such as having a child. They will have a lot of expenses such as tuition fee or alimony. If there are families that plan to not have a child, their goals may be an old age plan about where they want to live or travel around the world.

In this regard, to set a common goal, each of which must be considered in conjunction with the amount of money, clear time, and inflation to help achieve various goals.

3. Determine who will responsible for which part of the expenditure

After knowing the financial status and financial goals of each other, the final step is to have a heart-to-heart talk about who will be responsible for which part of the expenditure. It is recommended that every couple should split the money into two parts:


  • Common money

These funds are money that is shared by couples to create a shared life and responsible expenses such as shared debt, home installments, car installments, electricity bills, and future child support.

  • Personal money

This is the remaining money for personal expenses. This money they and their loved ones spend on their responsibilities, such as personal debt, daily expenses, personal savings, and retirement funds. This part of the money can also be saved as a reserve on days when both have money problems.

In addition, there is also a loan option for couples who can borrow together to show the same responsibility or to take out an individual loan, but before deciding, they should study which one will be more worthwhile.

In conclusion, no matter where you travel, good planning will help make your trip as safe as your marriage finances. If you don’t plan well from the beginning, this money can cause chronic problems in your marriage later on.

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