The couple’s guide to financial clarity
A no-blame, all-gain joint money plan for Indian couples in their 20s and 30s
Step 1: Calculate your combined monthly income (Post-Tax)
Include:
Salaries (after taxes and PF)
Rental income (if any)
Freelance/side hustle earnings
Example: ₹1,20,000 (Partner A) + ₹80,000 (Partner B) = ₹2,00,000 net monthly income
Step 2: Apply the 50:30:20 split
Step 3: Define each bucket together
➤ Needs
Use the “Essential for Stability” test: If you don’t pay for it, does life get disrupted?
Include:
Fixed rent or home loan EMI
Monthly groceries
Utility bills & phone/internet
Health, term, and car insurance
School fees if applicable
Exclude:
Dine-outs
OTT or club memberships
Shopping over and above basics
➤ Wants
Use the “Enhances Lifestyle but Not Survival” rule.
Include:
Date nights, short getaways
Swiggy/Zomato splurges
Latest smartphone, smart TV
Gym memberships, hobby classes
Agree on joint vs personal splurges. Budget personal leisure money (5-10% each) for guilt-free spending.
➤ Investments
Split into:
Emergency Fund (goal: 6 months’ needs)
Short-term (0–3 years) – e.g., Recurring deposit, liquid funds
Mid-term (3–5 years) – e.g., Balanced advantage funds, hybrid
Long-term (10+ years) – e.g., Nifty 50 index fund, SIPs in equity
Set up auto-debit SIPs so investing becomes a non-negotiable.
Step 4: Align on risk appetite through a simple tool
Create this table together:
Outcome:
Use this to set equity-debt ratio for core joint portfolio (e.g., 60:40)
Build personal portfolios with own risk appetite for 10% of investments
Step 5: Build the actual budget sheet
Create a monthly tracker in Google Sheets :
Track Needs/Wants/Investments
Add comments like “this month overrun due to cousin’s wedding”
Use color-coding: Green (within budget), Yellow (borderline), Red (over)
Step 6: Monthly money check-In (30 mins only)
Checklist:
How did we track vs 50:30:20?
Any emergency expenses we didn’t plan for?
Are SIPs running on time?
Do we need to rebalance or pause anything?
Set one money goal for next month
Avoid blame. Frame the conversation as:
“What worked well this month?”
“What can we improve next month?”
Step 7: Quarterly review & annual reset
Every 3 months:
Recheck investments vs goals
Tweak SIPs if income changes
Discuss any upcoming major expense (car, trip, IVF, business loan)
Every year:
Review insurance coverage
Rebalance portfolio (equity-debt ratio)
Check if “Wants” budget is growing faster than “Needs” (a warning sign)
Special tip: Use the “two wallet” rule
Each partner can maintain:
One joint wallet/account (shared goals + bills)
One personal wallet/account (freedom money)
This preserves individual financial autonomy while building joint discipline.
How this process helps you in the long run
Reduces Confusion: Budget becomes visual, trackable, and predictable.
Avoids Conflict: Personal spending stays personal, shared goals remain sacred.
Builds Financial Confidence: You know exactly where your money is going and why.