Budgeting as a couple has its many pros and cons.
Individually, we have to move on from the mindset of caring only for our own financial needs to balancing your budget with the needs of your other half. Once a couple is able to move past this mindset, they become teammates in this long and tough journey of saving up for the future.
Seedly wrote an article on how one can allocate his monthly salary using the 50/30/20 formula.
The Formula To Budgeting – 50/30/20
If you are new to budgeting, figuring out where to allocate your pay cheque can be overwhelming. Not only do you have to categorise all your expenses, you need to and make difficult decisions on each tiny details.
While we cannot give you and your partner a hard-and-fast rule to allocating your money, you can start off with a simple rule of 50/30/20 with your partner.