There’s no secret knowing that saving money is important and not always that easy.
It’s hard enough getting your own finances in good shape, right. For couples this can be a more difficult process or situation. Why?
Because there is the potential for different ideas and priorities around money. Plus the topic of money can create friction and disagreement or frustration. For couples, it should be about working together to achieve the same desired result – saving money.
Fun Tips to Save Money and Strengthen Your Relationship
Let’s look at some different ideas around money saving challenges for couples. Keep in mind this is not just about saving money, it’s also about building trust and understanding as a couple. Plus, if something feels like fun, there is increased chance of succeeding together. There’s a lot of folks that think anything to do with money is just not fun! Time to check out the first challenge idea.
Tip #1. Money date night
As the name suggests, this is a different approach to money saving challenges. It combines a money discussion with a date night. How cool! It creates a chance to sit and discuss your approach to budgeting and planning how to go about saving money. And a date setting, makes the environment for decisions and possible compromises less challenging.
You do need to consider a couple of things also for the right setting, and to get the most out of your money date night:
– no distractions e.g. pets or young kids around
– limit yourselves to one alcohol drink, you want a clear head
– it doesn’t have to be expensive. It’s the start of saving money remember.
Making a mindful choice to plan and agree on a budget together, allows you to understand your partner’s needs and priorities. Something all couples should know.
It also creates that sense of accountability to each other, after reaching agreement around:
– Embracing the budgeting process as a couple
– Setting financial goals and priorities
– Tracking expenses and finding areas to cut back
– Finding creative ways around saving money without sacrificing fun.
Even when you put some fun into money saving challenges, it’s important to set some clear intentions about what you both hope to achieve. Look at setting a regular catch up night, which could be weekly or monthly. There is always more chance of success when you commit to this process on a regular basis. Have fun with the idea, enjoy each other’s time together and start saving money sooner.
Tip #2: No Takeout Challenge
Here’s a challenge to think about. Takeout is convenient for busy working couples – but the costs can really add up. Not to mention there are some health disadvantages unless you are very choosy with what you buy. Imagine how many dollars will be saved by not hitting the hamburger stand or fried chicken shop, or even the foot long sandwich outlet!
Some tips before trying this No Takeout Challenge.
Make sure you have stocked the food pantry with a good variety of food. Don’t go shopping in a hurry or when you’re hungry. You could be tempted to grab Takeout!
This is one of those money saving challenges that gives you other opportunities to consider, not just saving money:
- Improve your cooking skills
- Putting more healthy food in your diet
- Cooking together with quality relationship time
Add some fun to this challenge and do a Takeout Night at home. Say what? That’s right – be kind and reward yourself during the challenge. If burgers are your thing, cook some at home from the supermarket. Get fresh rolls, salad, and favourite dressing. It probably won’t contribute to saving money, but it will be enjoyable and rewarding for your other efforts.
Try more money saving challenges, like the one below:
https://www.bankrate.com/banking/savings/52-week-savings-challenge
Tip #3: Vacation Account Challenge
Everyone loves a vacation, especially couples hoping to spend some time together away from the normal routine of life. If you’ve already started your money saving challenges, you’re probably having a regular Money Date Night. Did you maybe set a vacation budget amount during that planning together? Why not be a step smarter, and combine the No Takeout Month with this challenge?
Work out how often you would usually get Takeout, then each time you stay in and cook, put the amount of money saved into a Vacation Account.
You will be surprised how quickly this can add up. And you will both find it very satisfying to see real results for not getting Takeout. Did I hear someone say “ it’s not saving money if we spend it on a vacation”. It may seem that way, but just think about that. Before, you were spending money on Takeout AND a Vacation. Now the savings from the No Takeout Month, directly pays for the Vacation. That’s real savings in action.
The vacation can almost be seen as being FREE.
Take time to plan this challenge together :
- Open a Vacation account
- Set a budget amount for the Vacation
- Plan a fun destination that means you will both commit to saving
- Be positive and encouraging to each other
Enjoy the Vacation you both save for – you will have earned it and deserve the fun break!
Here at Spending Choices, we practice these money saving challenges on a regular basis. We do that because they work and help you start saving money. And that’s what these challenges are all about.
Discussing the importance of how to save money and suggesting novel or fun ways to do this as a couple.
Remember to focus on some key points to help you succeed:
- Positive communication with each other
- Set agreed budget limits and spending priorities together
- Make a clear commitment to finish each challenge
- Keep turning up for each other, and build on your relationship
These fun tips can help couples like you, with the goal of saving money. You will also create memorable experiences to strengthen your bond together. And don’t forget to celebrate each successful challenge.
Take some time out together and think of new ways to continue your money saving journey.
At Spending Choices we understand the psychology of money and the impact of making mindful spending choices. Stay committed to saving money together and showing up with a sense of fun or enthusiasm.
This will definitely increase your chances of putting more dollars in your pocket.
