Knowing each other’s interests, spending habits, and attitudes toward money has worked well for Edward and Rieze.
“Edward pays the utility bills, buys our food, and keeps the house in order,” Rieze said. “I’m in charge of extras like paying our maids, planning our travels, and organizing birthday celebrations.”
And even though they spend most of the year apart, Michael and Maricar put a special premium on teamwork when it comes to handling money.
“We’ve opened a joint account, and we make sure that each of us funds it every time we receive our salary,” said Maricar. Michael handles their joint account because he’s the thrifty one, and he simply sends her money for their monthly expenses.
They also maintain separate personal accounts so they can still preserve some financial autonomy.
“It’s up to us what we do with our personal savings, as long as we allocate a certain portion to our joint account each month,” Maricar said.
Saving money enables newly married couples to achieve their financial goals as a family. It also secures your future for the rainy days ahead, especially when you invest in life insurance plans like BPI-Philam's Life Ready Plus, one of the products under its Wellness Series.
Perfect for couples who are just starting out, Life Ready Plus allows you to build a protection fund for as low as P2,100 per month. It comes with membership to Philam Vitality, a wellness program that rewards healthy living. Couples will get an upfront additional coverage, and may enjoy discounts from a wide range of merchant partners, allowing them to get more out of life while being protected.