When you are married you may seek funds from a licensed money lender in Singapore that you can use it in running the family affairs. Before you use this funds and any other finances that you may be receiving from where you work you need to sit down as a family so that you can budget for it. The idea of totally convincing your partner that you need to budget can be difficult.
Budgeting is a good idea but you may ask yourself on the ways that you can use so that you are in agreement with your partner. Whatever the case, the best way to start in resolving the financial issues is just” BUDGET”. This will assist you to control the income that you receive and any loan that you may get from the licensed money lender.
Some of the best ways that you have to follow before you even start to budget with your partner are:
- You should annoy or argue with your spouse.
- You should not give command statements such as you must do this and that or else.
- You should try to talk about the budget when your spouse is busy doing some activities.
- You should not act like a parent. In other words, you should be at the same level.
- You should tell your partner why it is important for your budget and the practical families which budget and what they have achieved.
When you have known the things that you must and you should not do, you will go ahead to set a budget with your spouse.
1. Setting a date for the budget
Although this might sound strange, it works to a greater level. As a family, you can set aside time that you will meet so that you can talk about financial issues. This can enable both of you to budget properly without any distractions.
2. Create an environment that is friendly
If you have children you can make sure that you keep them busy or set time when the kids have slept so that they cannot disrupt you. Remember to put your phones on silent mobile and switch off the television. It is good that you conduct this meeting within an hour so that you may lose focus. When you start doing the activities that you had budgeted you will have to continue to have regular meetings so that you can scrutinize on how you are using the funds. You try to create some jokes which can make your spouse to be relaxed before you talk the idea of a budget.
3. Playing the budget game
In many cases, you may not want to budget since you really do not know the actual finances that both of you receive. You may also not know all the things that you need as a family. The best way that can assist both of you to agree is by trying to write a dummy budget. So that you can do this you will have to set a time within which you can write the budget on a piece of paper. You will have to write all the things that you feel you should finance, their cost and the total money that you earn. After you are through you will have to go through the lists that you have written. This will assist you to prioritise some bills which are important.
4. Talking openly
When you are meeting with your spouse ensure that you talk more apart from the amount of income and bills. It is good that you understand one another about how you feel when it comes to the issue of money. Some of the things that you may discuss are:
- The goals that you intend to achieve with the finances that you receive
- The meaning of money to you
- The fears that you have when it comes to financial matters
- In case you love to spend and save.
- If you are able to understand some of this issues from your partner, it will be easier for you to work together so that you can achieve your financial goals.
5. Setting goals as a family
When you have learned about one another, develop the best strategy which you can set financial goals which cannot annoy the other partner. Some of this goals may include paying for school fees for your children, buying a new house, buying dream car and donating to charity organisations in Singapore.
6. Using the right tools
Once you have concluded in drawing the budget you will have to decide on the ways that you will use for your budget. One way is by using pen and paper. If you like to use a mobile phone you can use an application for budgeting. You can use an app like a free budget calculator or even Seedly which can assist you to work together in your budget.
It is also good that you talk about how you are going to finance your budget. Sometimes you draw a budget that is beyond the income that you may receive. The best thing is that if have a good financial reputation you can seek the licensed money lender in Singapore which can lend you some money to finance your projects. It is good that the money you borrow from the licensed money lender funds projects that can assist you to generate income and not luxury items. When you are able to agree with your partner on this issue of funding you will be able to go far.
When you are able to agree financially with your partner, it will be one way that you can strengthen your relationship. Budgeting is one step that can help any family in Singapore to turn their dreams into a reality. Also with budgeting, you may realise that you are able to save up to $ 30 dollars in a week which you could have wasted in buying unnecessary items. You can try to save this small amount with licensed money lender, with time you realise that you have saved a lot of money which can even assist you in emergency cases. If you follow the above guidelines you will not have any problem in talking with your partner about any budget that you have in mind.