Are you planning to take that exotic vacation with your partner or saving for the deposit on your dream home? It is a good idea to have your financial goals clear in your mind, but it is equally important to save extra (as much as possible) to turn these goals into reality. In case you find yourself at the sea everytime it comes to boosting your savings as a couple, here are some quick hacks that will help you save more as a couple without feeling the pinch.
The budget – While many would consider this a clichéd advice, having a good household budget is paramount to saving better. Unless you have an accurate idea of your incomings and outgoings, you can never pinpoint the wasteful expenditure and curb it. So take some time out and prepare a household budget, and make sure you stick to it.
Date night (at home) – Saving money doesn’t mean throwing romance out of the window. Well, truly as J. Lo crooned, love don’t cost a thing! So ditch going to the cinemas every weekend or having dinner at that fancy restaurant. Instead have a cook-in together or a cozy movie night at home and enjoy each other’s company without spending any big bucks.
Cook, stay healthy and save more – How many times do you buy lunch at office? While both of you may be too busy to cook, taking out some time to prepare a home cooked lunch you can carry to work will significantly improve not only your health, but also your finances.
Car petrol – Save petrol, money and the environment as well – Isn’t it great how a small change can have such a big impact on so many aspects of your life? Car pooling to work with your spouse (if possible) and colleagues will help you affect significant savings keeping in mind the ever-rising fuel prices across the globe. It will also give you the satisfaction of doing your bit for the environment.
Invest that wedding money – While the big fat Indian wedding is definitely a drain in the pocket, most guests try to compensate the couple by offering money as a wedding gift. It may be a fun idea to spend all your gift money on a lavish honeymoon, but it will make more sense to invest this money in high-return investment options to make a grand start to your financial beginnings as a couple. It may be a good idea to get in touch with a financial advisor to understand the best investment options for your financial goals and vision.
Dr. Celso, India’s first financial doctor and author of the acclaimed book, “Who says money doesn’t grow on trees?” has been guiding couples, young and old, on their financial journey, helping them plan an investment portfolio to take care of their financial needs. Book a consultation now and start your journey to wealth creation.