There are many factors that cause you and your partner to live with the in-laws after marriage. Whatever the reason, living with your in-laws can be a good opportunity to get to know each other better. But, make sure you are also prepared for some big expenses.
Big Expenses That May Incur When Living With In-Laws After Marriage
For those of you who are planning to live with your in-laws, time to start preparing money for the following expenses.
1. Expenses that only come once but require large costs
Are you moving to live with your in-laws or are your in-laws moving to live with you? Either way, there are moving costs that must be paid.
Another expense that only comes up once is the cost of remodeling your house, especially if your in-laws move into your house. However, this depends on the health of the in-laws. Remodeling may be necessary so that the in-laws can live comfortably.
For example, all the bedrooms are on the 2nd floor, while your in-laws have difficulty walking or climbing stairs because their legs hurt. When your in-laws move into your house, there must be a bedroom on the ground floor.
2. The cost of bills becomes bigger
The more people who live in one house, the greater the bills that have to be paid. However, this depends on whether the in-laws will pay the bill themselves or not.
You may also feel uncomfortable as a daughter-in-law or son-in-law if you ask your in-laws to pay the bills. Therefore, prepare a larger budget to pay monthly bills such as electricity and water.
3. The cost of daily necessities also becomes greater
You can probably discuss costs for daily needs first with your partner and in-laws, whether you and your partner will cover everything or your in-laws will cover it yourself, just like when they didn’t live with you.
But if you and your partner are responsible for it, be prepared to increase your budget for daily food and household needs such as soap and toilet paper. Likewise, when you take your in-laws to the mall, for example, and decide to eat at a restaurant. Where previously you spent money on yourself with your partner and/or children, now you also have to spend money on your in-laws.
Tips for Managing Finances When Living with Your In-laws
With your in-laws living with you and your partner, you have to review the budget you have made. Of the big expenses above, which ones will you have to prepare the budget for? You and your partner have to re-plan your finances. For example, expenses for other needs can be reduced so that you can move the budget to these new expenses.
With Jago, you can more easily rearrange your budget and separate it according to your needs into different accounts.
1. Lots of needs, lots of budget separation: create Saving Pockets or Spending Pockets
With increasing needs that must be met, to make it easier to manage finances, budgets can be separated.
In the Jago application, you can create many Pockets, which is the same as having many accounts. Create Saving Pockets or Spending Pockets. Later, the Pocket function can be changed. A Saving Pocket can become a Spending Pocket, and vice versa.
Separate the budgets for unexpected big expenses when living with your in-laws into different Pockets. Likewise, you can create individual Pockets for all other expenses. Start saving or set aside money into the Pockets that have been created.
2. Manage household expenses together in the Shared Pocket
If you want, you can also invite your partner to manage expenses together. Managing finances together can make everything easier, besides of course strengthening communication and transparency in the household.
What if it turns out your in-laws want to contribute? Invite them to join the Shared Pocket by first creating a Jago account that doesn't take long to register.
You can invite anyone who is already a Jago user to join the Shared Pocket and all members who have joined can see the transaction history. In this way, transparency is maintained.
3. Know the details of monthly expenses through the Spend Analysis feature
It is important to monitor monthly expenses, including household expenses. Through the Spend Analysis feature in the Jago application, you don't need to bother recording every expense.
Complete transactions online or make payments using Jago debit cards and QRIS Jago with funds originating from the Jago Pocket. This way, all transactions are recorded automatically and can be categorized the way you want. Next, all you have to do is go to the Spend Analysis feature and see the details.
Living at home with your in-laws, at first, you may not be used to increasing expenses and managing your finances. However, managing your finances using Jago the way you want can make everything easier.
