Yes, romantic relationships and life as a couple are not easy, it is less so if there are financial problems or a lack of transparency in the way we manage the money that belongs to both of us or that affects the quality of life of the couple. family.
For that reason, in Coopealianza, we want to share in this article 3 practical tips to carry out investments as a couple successfully.
Of course, it is important to clarify that there is no correct or unique way to manage finances as a couple, just as there is no single way of loving or relating to the other. Every couple is different and money management is something that must be agreed between them, like any other aspect of the relationship.
- Before investing it is important to be clear about income and expenses. Here, what is generally recommended is that there be proportionality in the contribution that both make to the finances of the home or family. Common sense would tell us that whoever earns the most should contribute more and vice versa.
When establishing this proportionality, it is essential to understand the standard of living of both; that the expenses are not above the possibilities of either of the two. In this sense, it will be necessary to possibly resort to empathy, understanding and consensus based on dialogue.
In fact, the best recommendation would be to do that financial check before you get married or move in together.
- Make a budget that both of you can stick to. Having already established what the financial reality of the couple is, it is important to jointly design a budget in a shared tool. That budget must be realistic and fair for both of you.
That is, after reaching an agreement on how much money enters the house and what are the fixed and variable expenses, it is defined, for example, if there will be a common expense account, an account for the children, monthly contributions of both to the mortgage, with both access to said accounts and absolute transparency in the way in which the money in the accounts will be used or who has to pay what each month based on the budget built.
- Plan and get advice before investing. Already having clarity on how the day-to-day expenses of the couple will be assumed and how much each one has to contribute; it is necessary to establish what the investment objectives will be and why. Do you want to invest in your own home? Do you want to invest in the stock market? How much do you expect to earn and in how long? What motivates them to invest and do they share the same reasons?
With the objectives defined, advisers and experts can be sought to recommend the most suitable type of instrument for the investments that are to be made, taking into account profitability, time and the level of risk.
These instruments can range from bank promissory notes, fixed-term certificates, real estate, setting up your own business together, insurance or investment funds, stock market, among others.
If you are looking for ways to save and invest as a couple, Contact Us. At Coopealianza we can help you.
We have sight savings in colones and dollars, savings in installments (for Christmas expenses or the payment of the label, for example), and fixed-term savings certificates with excellent yields. We look forward to your visit!