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good financial goals

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I’ve become obsessed with saving money in recent years. There are really only two ways to put aside more money: 1) make more or 2) spend less. I’m likely not in a position to make more for a little while, so my best bet in seeing my bank account balance grow at a faster rate is to spend less. I am married, and when you’re in a relationship, there can be a group mindset surrounding money. When it comes to financial strength, you’re really only as strong as the weakest link aka the person with the worst spending habits or the least financial knowledge. But, on the positive side of that, one person being particularly good with money can lift both people up – so long as they’re able to influence the other. It’s actually pretty incredible what you can do with a two-income household. I don’t mean to tout this benefit of married life in the face of single individuals, but, combining money and resources can help money compound and grow at a great rate. Hey, even if you are single, you can do some of this with a roommate or sibling. You just both need to be willing to do the work. That means being savvy. That means saving. That means paying attention. And it certainly means setting goals together. Here are way to collaborate to save more money with your partner.

good financial goals

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Choose credit cards wisely

Think about how you two spend money. Pick out credit cards that give out the most rewards for your specific spending habits. If each new member of a card gets, say, 700,000 points just for signing up, you may want to consider each getting that card, in your own names, rather than sharing just one, as you’ll get double the new points. And if some cards have limits on how many rewards account members can bring in each year, it’s certainly worth it to open two separate accounts to, again, double those points.

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