15 Clever Ways Of Saving Money As A Couple

New-Age Couples | | , Writer
Updated On: March 14, 2024
saving money as a couple

Newly married couples take savings way too lightly, always thinking that it is not the right time to save just yet. They want to splurge on their newly cemented love life and don’t often think twice about booking that weekend getaway or buying that new dishwasher. But the truth is that the more you procrastinate on your savings, the higher the chances of not being able to save enough for your future.

Savings are essential for young couples in relationships, young married couples and even new couples, for it is never too early to start saving up your money. It is said that your saving goals are more achievable when you are in your 20s and 30s. Hence it is necessary to start saving early and especially learn the right way of managing finances as a couple.

Saving money as a couple is a lot different than saving when you’re a bachelor. There are household chores and products to buy which you never knew of. There is always a trade-off between doing a chore by yourself and saving money or hiring someone to do it. These seemingly meaningless decisions we take as a young couple, affect our finances in life tremendously.

So if you’re newly married or in a live-in relationship and want a rundown on how to save money as a couple, well you’ve come to the right place then. There are many budget tips for a couple to keep in mind while they plan their monthly or quarterly expenditures for the house. We’ve simplified some of them for you to reflect upon while you’re making the next monthly budget!

15 Tips For Saving Money As A Couple

Poor money management skills can wreck a marriage early on, there’s no doubt about it. Some relationships simply collapse because of money and marriage issues. You might feel that managing your own money is itself a huge challenge, think about including your partner’s earnings and bills. Managing finances as a couple is tricky because you don’t want to seem like a miser but you also don’t want to be too careless with your money.

But all that can be taken care of. With the right planning, commitment and dedication to save, you should be able to get your finances straight in no time. Starting with some simple budget ideas, we give you the 15 tips for saving money as a couple:

1. Decide on the amount to put aside when saving money as a couple

It is very important to set realistic goals when it comes to saving money. Make a list of the goals you would want to achieve as a couple in the future. Think about things like “Should I have a baby?“, children’s education, family vacations, retirement, etc. and make the list accordingly in terms of importance. Do make sure to pay off your debts first through savings. That should ideally rank first on your list. It might seem mundane at first, but if you do it right, you’re saving yourself a lot of money and stress in the future.

Periodically review your goals. Assess if the goal that you’ve set for you and your partner is feasible. Make changes if needed. This is how an efficient planning process starts to work and that’s how you start managing finances as a couple.

how to save money as a couple
Set your saving goals together

2. How to save money as a couple? Focus on financial compatibility

Both partners need to be on the same page when it comes to sound financial planning as a couple. The needs and wants of both should be taken into consideration in order to attain financial compatibility. Reckless planning can hamper the harmony of your relationship in the future.

Saving money as a couple includes respecting each others’ needs and making room for them in the budget. Understanding one another’s shopping habits, personal expenses and lifestyle decisions are all part of budget tips for couples. Your partner’s needs might seem like wants to you and vice versa but you mustn’t push each other too far.

3. Differentiating between needs and wants

You need to keep asking yourself whether you really want something or you actually need it. Some people have a craze for clothes, gadgets or accessories and end up buying a lot of unnecessary stuff that they might not actually need. Some often get trapped into deals that look attractive but are not worth the money.

Money management for couples is a lot easier when you can mutually decide on what are your needs. While you might not always be on the same page, it’s good to reach a middle ground and then set aside the money for it to avoid future conflicts about the same.

Related Reading: Life After The Wedding And The Honeymoon – Post Marriage Life

4. Budget tips for couples – Do fun things indoors

Avoid eating out frequently. Seems like a small price to pay for that time being, but in the long run, it can be a big proportion of your bills. Most couples, especially young married couples, go out to eat in fancy restaurants to celebrate every little relationship milestone or have romantic date nights. Staying in and cooking is a better option. You can cook together and enjoy each other’s company. Have a romantic dinner at home while watching a movie of your choice.

A candlelight dinner doesn’t have to be in the presence of five-six butlers serving your dishes. Sometimes, romance can be in the simplest situations with little or no money spent at all. If we get creative, we can be a lot wiser with our money and not be worried about spending it unnecessarily.

5. Go local, ditch branded

Buying locally manufactured items instead of expensive branded products can lead to some really big savings. Remember that in an attempt to look rich, you might be draining your riches. Local products are comparatively cheaper and worth the money.

It’s all right to not buy that Gucci belt or the Dior handbag for once. Nobody on the outside knows of the actual struggles that you might be going through as a young couple. Why drain your budget for someone you barely know? Managing finances as a couple involves compromising a little bit but always being grateful for the things you have.

6. Downsizing

If the two of you are in a live-in relationship, then there is no need to live in a huge house with unnecessary space or rooms. A big house runs more expensive in maintenance. Rent a flat with lower rates. Tiny houses are also a good idea, as the builders customize your house according to your needs. You can easily maintain a small house, and it looks warm and cozy too.

In case you’re looking forward to having children in the future, moving to a bigger house then would make sense. However, if you drain all your money now, you might have to shift to a smaller house with a bigger family. Sometimes saving money as a couple will not just be for the two of you but for the ones to come as well.

Related Reading: 8 Fights Every Couple Will Have At Some Point In Their Relationship

7. Tracking your bills – Money management for couples

Take some time out every month to check your bills properly. Tracking bills and expenses regularly helps you monitor your expenses. Remember, spend money only on things you actually need. In addition to this, you can enhance your savings with small lifestyle changes like opting for family plans for phones, which offer better deals. The more you see and understand how you are spending, the better you will manage the money in the future.

8. How to save money as a couple? Look out for sales

You can save big during festive or seasonal sales. Stores have attractive offers to fit your budget when buying Christmas gifts and so on, which are unavoidable expenses. It is beneficial to buy in bulk at this time. At the same time, do not go overboard. Make a list of the things you need to buy and make sure you stick to that list.

A forward list would allow you to plan in advance for the things you might need in the future. For example, Thanksgiving sales are the best time to invest in the purchase of Thanksgiving gifts and a little bit into Christmas decorations too. Plan smartly and consider this one of the best budget ideas for couples.

9. Get rid of unnecessary subscriptions

I have a friend who has a gym card which he hasn’t used in years. Its subscription fee is deducted from his account every month. He is paying for something he doesn’t even consider trying out. Don’t be like my friend. Be better than that and understand how to save money as a couple. Try avoiding unnecessary subscriptions like gyms, beauty boxes, magazines, journals, etc. if you are not a regular user of those.

10. How to save money as a couple? Move in together

This might just be your favorite one when it comes to budget tips for couples. If you are a young couple and live separately, then moving in together is not a bad idea. You can save so much on rent, utilities and groceries. You can combine your finances and share the load.

Plus, it gives you more opportunities for seeking financial advice and having financial discussions with each other. But only, if you’re ready for that kind of commitment and are truly in a serious relationship. Don’t ask her to move in with you because you want to save on the electricity bill but aren’t even in love with her.

marriage and money

11. Avoid using credit cards

Having a credit card just makes you more spendthrift. Remember what happened to the girl in the movie Confessions of a Shopaholic? The idea of having short-term credit can tempt you to spend more than your usual income. There are more chances of ending up in debt with the use of credit cards. Not to forget the high interest rates charged on them. Use cash or even debit cards instead for effective money management for couples.

12. Budget tips for couples – Go on cheap vacations

Go on cheap vacations. This doesn’t mean you have to compromise on your bucket list. Make good use of travel coupons and offers and you can still pick the ideal vacation spot. Look out for the best packages to fit your budget. There are places where you get special couple discounts. Book cheap motels instead of pricey hotels, because you are not going to spend too much time in them anyway.

Homestays are also a good option as you get to eat local food and get a glimpse of local culture. Money management as a couple isn’t as hard as it seems to be. It’s just a few simple steps that you have to take every day.

13. Investing

Locking up your savings in long-term investments seals the deal. You are not tempted to drain out your savings. At the same time, making safe investments helps you earn a fair amount of interest on them. You can also consider other financial instruments like investing in fixed deposits, company stocks etc. To me, that sounds like money relationship goals already.

Spending to hire a financial advisor isn’t money wasted at all. This decision might help you save money as a couple and make you more responsible in the future.

14. Setting limits

Setting a weekly or monthly budget is one of the most effective saving strategies. You can be your own budget planner. Budgets help you cut down your expenses, and at the same time, help you focus on your financial priorities. You can do an in-depth analysis of your income and spending and set your budget accordingly. A budget would always help you understand the deviation from your standard expenditure to your actual expenditure in a given month or a year.

15. Budget ideas for couples – Opening a joint account

Opening a joint account can be helpful for you and your partner to pay for bills and utilities. It makes it easier to split the expenses. Moreover, both at regular intervals can contribute a fixed sum so that both share the burden. Other techniques like buying furniture from yard sales or flea markets, selling unnecessary items for money, can also contribute to your savings. Furniture is something that’s being preferred on rent by young adults, increasingly.

Remember, saving money doesn’t mean cutting down on everything. It simply means spending smartly and managing your finances more efficiently. Savings will only bring you closer to your long-term dreams. As Warren Buffet says, “Do not save what is left after spending. Spend what is left after saving”.

If your question was, “how to save money as a couple”, we hope to have answered effectively. Start planning, even if it seems tough in the beginning, the process of saving and planning becomes much easier as you go ahead. Any emergency or special occasions would always be taken care of with that extra money you saved up!


1. How much should you save as a couple?

This depends on your family situation and your age as well. If you are a young married couple with no children, your future finances are to increase and your risk capacity is more. You should save up as much as you can and invest in high-risk propositions to earn higher returns. Fifty- percent of your income must be saved up, in the least.

2. How much should a married couple have saved by 30?

This is subjective to a family’s needs and standard of living. However, if you and your partner have been in a married relationship for over four or five years and are nearing the age of 30, you must have enough to buy your own house. If you have children, their college and education funds must be set up too. Your health and medical insurance premiums should be up to date as well.

3. How can I save money without my husband knowing?

Although we advise being transparent to your partner about saving money, we understand the need for doing it in private as well. If it’s about money that you have earned, your bank manager can help you divert some of the money being credited into another account without your partner’s knowledge. You can also start by saving cash at home and safe-keeping it at unusual locations.

12 Tips For Married Couples To Split Finances

How Money Issues Can Ruin Your Relationship

Ask Our Expert


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.