track of your monthly expenses and how to manage them.
Financial planning for the newlyweds
As is the case of all personal financial planning, it is essential to have short-term, medium-term and long-term financial plans which can be used as a definite plan or as a yardstick by which you can measure your financial success and also keep a tab of the roadmap you have set for achieving your joint goals. These goals may be further categorised into needs and wants to mark their importance.
Financial planning is a dynamic process that will evolve as the years pass and the couple assumes new roles and responsibilities. However, it is essential to have a shared vision and attitude towards expenses as this financial stability is highly essential for a stable future.
The writer is CEO, BankBazaar.com