Spending less than you earn is crucial for hitting your money goals as a couple—which means knowing exactly how much you’re spending versus bringing in. List all of your joint income—including any from side hustles—as well as bills, purchases, and other expenses to get an idea of where you stand in terms of your monthly cash flow.
Do you and your partner know each other’s values? And does your spending reflect those values? When your values are aligned, you have the opportunity to reach better outcomes as a united front. And if you have differing values or priorities, talk about those, too. You can still support each other while reaching your unique goals.
Your short- and long-term goals should be reflected in how you budget. Making room for your priorities, like building an emergency fund or buying a home, can help you better plan for your future.
Ask any handyman: Most jobs are easier when you have the right tools. A budgeting tool that works for you, like our Super budget spreadsheet, can make budgeting a breeze. There are many digital apps and tools available that can also help you stay organized, allowing you to create spending categories and set limits for each.
Once you have a plan, don’t let your hard work go to waste! Have a regular household budget meeting to check in and make sure you’re both on track with your shared and individual money goals. When you work together and stick to your plan, your bank account—and relationship—will benefit. Check in together consistently to celebrate your progress toward goals and ensure the budget is working.
