Family
Organise your finances as a couple
Good financial management as a couple is important to avoid irritations, but also to prioritise your money correctly.
Make joint financial decisions
Agree before decisions are made, so you avoid discussions afterwards.
Create a budget and set aside a buffer
Get an overview of income and expenses (both actual and unforeseen), so you avoid surprises.
Open an account for joint expenses
Transfer money that covers the expenses from the budget to a joint account. It may be sensible for the amount to be proportional to each person's income.
Save towards a shared savings goal
With shared goals, it becomes easier to make adjustments together.
Have an account each for personal use
When savings and expenses are taken care of, you should have money that you can spend as you wish.
Children and spending
Talk to your children about finances, so they have your wisdom with them before they start spending money themselves. You should discuss budgeting, pocket money, the value of money and saving with your children.
The budget conversation
Money is not an unlimited resource. Talk about the money that comes in and the money that goes out – and what you do with the money you have left over.
Use the supermarket as a learning arena
Explain why nearly identical food items cost different amounts. Teach children about kilogramme, litre and unit prices, and explain which is cheapest.
Give regular pocket money
With pocket money, children learn to manage their money over a longer period. The amount should be in line with the tasks they perform and the expenses they are responsible for.
Set a shared savings goal
Include the children in the family's savings goal. This way they can also contribute to the family spending money more wisely, and they learn that it requires patience to be able to buy what they want.
Separation and divorce
A separation is not easy, and finances are often not what you want to focus on most during such a period, but there are still certain things that are important to consider.
- Create a budget to get an overview of expenses and income
- Order a property valuation
- If you have children, review how you organise and manage their savings accounts
- Determine what needs to be divided and create a distribution agreement – seek help from a lawyer if necessary
- If you need to buy a new home, find out how much mortgage you can obtain
- Work out how much you can save in your new everyday life
- Determine which insurance policies you need and what they will cost you
Remember that the family does not need to be dissolved, but reorganised. The same applies to your finances.
Inheritance and advance on inheritance
Inheritance can be a complex topic and there are different ways you can inherit. If you are involved in an inheritance process, you should familiarise yourself thoroughly with the legal aspects and rules surrounding inheritance.
Here you can learn about inheritance, advance on inheritance and how you should use your inheritance. See what you may be entitled to in the inheritance settlement and whether a will has been written. Learn about inheritance and financial advice related to inheritance.
