Wedding Article

Financial Tips For Your Happy Ever After

A happily married life can begin with right financial planning for the future. Here are some financial tips to help soon-to-wed and newlywed couples start financially smart:

Don't be afraid to ask
Ask your partner if he/she has ongoing loans that need to be paid off. Not only will this prepare you for future financial obligations you might have to share as a spouse, but actually enlighten you on your partner’s spending habits and attitude towards debt.

Protect your credit score
Everything a couple does can affect their future. Marrying someone with a less than stellar credit rating will make it more difficult to obtain joint loans – for a house, perhaps – in the future. It is better for couples, then, to know this early on to give them time to work on improving their scores, if necessary.

Don’t be offended
When the guy or girl you like asks you about your debt status, welcome it with a smile. As the Dionisios say in their book, Thinking of Marriage: Love, Relationship and Intimacy, a couple needs to be financially independent and mature to make a relationship reach the next level.

Know your real worth
Financially, that is.  If you’re on your way to (or fresh from) the altar, it’s best to know how much your partner owes, owns and makes– as you divulge your own state of finances. Such transparency allows both parties to get a clear idea of how much you can save and spend in the course of your marriage. This also helps you set reasonable expectations on the lifestyle you can afford. By putting your financial abilities and qualms in the open, both of you will be one step closer to coming up with solutions.

Budget Bliss
The best things in life—even those that come with a hefty price tag – can be yours, as long as you handle money properly. Ergo, couples should draft an effective budget plan that can pave the way for a lifetime of security. Know if you’re in sync when it comes to spending priorities and allocating your earnings. Set the boundaries between needs and wants, and define certain moments where you can both splurge to reward yourselves (like anniversaries or family vacations). All these will be even more useful as you think of having children and start building a family.

Planning Ever After
Happily ever after is not a piece of cake. It takes a lot of planning and decision-making from you and your partner. Yes, foresight may sound unromantic but it gives you a clearer shot of the life you deserve together. Set reasonable targets for joint investments, savings and even big purchases such as cars and houses. This will help you work harder and keep focused on common goals that can lead to a great future.

Choose the right one
BPI has a whole range of products and services which can help you make money matters less stressful for you and your partner. These products and services are beneficial for your wedding needs and marriage life.

To fund additional wedding or honeymoon expenses
BPI Personal Loan

  • Collateral-free
  • Get as much as 3x your monthly income ranging from P20,000 to P 1,000,000
  • Pay-off at your desired term loan of 12, 18, 24, 30 and 36 months auto-debited from your BPI account.

To manage your daily finances
BPI Express Teller

  • Pay bills, reload cellphone and prepaid cards, transfer funds thru BPI's 24/7 banking channels
  • Shop cashless in over 8,000 Express Payment Systems stores

To build your savings
BPI Save-up

  • Save and transfer money automatically from your Express Teller account to your Save-up account every month
  • Track your savings via BPI's 24/7 banking channels or BPI Express Phone 89-100
  • Available in 2 variants, Save-Up High with higher interest rates (vs regular savings account) and Save-Up with FREE Life Insurance** up to 10x your account balance up to P4M (Terms and Conditions apply)

BPI Maxi-Saver

  • Higher interest as you build your account balance
  • Get 1% BONUS interest per year if no withdrawal is made within a month