Financial advice is everywhere, which is great. Right now you don’t necessarily have to sign up for a course or go back to school for you to learn a couple of things about financial wisdom, all thanks to the internet.
With all this vast information, you have to figure out what advice works for you. There are some pieces of advice that mostly apply to singles and that is different from what financially intertwined couples should be listening to.
The trick here is to understand what to look for especially when it comes to advise on boosting your income. Below are a few tips that you might need for you to finish strong as a couple:Combine your talents
A healthy relationship can help you discover new things about yourselves both as individuals and as a couple. This is a journey where you can realize that you both bring new skills and talents to the table that might actually help you generate some income.
If one of you is very creative and the other is tech-savvy, you should brainstorm on how you can use your talents to create more income. Check where your individual strengths are because that is where the real gold might be hiding.Learn together
Couples often spend the time they have together catching up with their favourite shows or going on trips. There is nothing wrong with that because it’s important to have fun together but you can also use some of that time to learn something new.
Instead of watching movies all the time, you can watch free videos on YouTube that can educate you on finances.
You will both equip yourselves with knowledge on how to make more money, how to use what you’re already bringing in wisely and different money mistakes to avoid as a couple.
- Why you need to have the money talk before moving in together
- How to plan for retirement as early as now
- Black tax: When relatives become your financial business
- The dos and don'ts of becoming rich
When you have bad spending habits, it will always feel like you’re short on cash even when you are already earning enough. You might not even realize that your current financial situation is directly connected to the spending behaviours you have as a couple.
You should get into habits like budgeting instead of aimlessly shopping whenever that paycheck comes in and embrace other beneficial practices like frugal living.
Call yourselves out on things that have been jeopardizing your progress like ordering takeout, going to concerts etc so that your income can count for something.Make equal effort
It might also be time for you to pull your weight as an individual. If one person in the relationship is doing all the hard work when you have school fees, bills and other needs that need to be met, it will be hard for you to make any progress.
If you’re the one who is struggling, you might need to find something more stable. That way you can have a better balance in your finances.Research on doable side hustles together
It might also help to be on the lookout for lucrative side hustles that will work for you. This might be a great strategy when you both have full-time jobs and are unable to balance that with something time-consuming.
You should start searching for simple ideas like passive income options that can increase your income.