Solenn and Nico l Moneymax

Have you talked with your partner about achieving financial goals in your marriage? If you haven’t, better do it now. Money problems are among the leading causes of failed marriages, so one of the first things you need to do after your wedding is to work with your spouse to manage your finances well.

You can draw inspiration from popular celebrity couple Solenn Heussaff and Nico Bolzico. Fans adore them for their playful banters on YouTube and hilarious posts on Instagram. But aside from delighting followers with funny couple pranks and parenting adventures with Thylane, there’s something else that they take very seriously―their financial wellness as a married couple.

In this article, learn how to budget as a married couple and get top financial tips from Solenn and Nico. 

How to Budget As a Couple, According to Solenn and Nico

Talking about money with your significant other may be something you want to delay or avoid. But your finances as a couple is an important matter that should be addressed as early as possible. Here, Solenn and Nico share some helpful tips on how you and your partner can do it.  

Discuss Your Financial Goals as a Couple

solenn and nico - Discuss Your Financial Goals as a Couple
Instagram photo by @solenn

Solenn and Nico work as a team to identify their money goals and find ways to achieve them. The celebrity businessman said that he and his wife have been talking about their financial goals since they got married in May 2016.

From the get-go, the couple has made sure they’re on the same page in terms of how they wanted to grow their money and where it would go.

“We started doing joint investments in the food and beverage sector, and we have a joint bank account where we deposit the dividends,” Nico shared. 

It also helps that the celebrity duo has a relatively frugal lifestyle. They don’t splurge on material things, as they spend only on travel, food, and dining in restaurants.

In an interview with GMA News Online, Solenn shared their secret to a drama-free marriage: 

“We’re not really materialistic. There’s nothing I can buy for Nico that would make him super happy… I like preparing food for him. Cooking is my love language.”[1]

Read more: Financial Tips for Couples: How to Balance Love and Money

Have Both Joint and Separate Bank Accounts

Asked for his advice for couples who will get married soon, Nico said, “Don’t be afraid to share bank accounts. As long as the wife doesn’t have a limitless credit card, you’ll be fine.” 

However, it’s still important for married couples to have their own income and savings in addition to their joint bank account. “I don’t believe in ‘what is yours is mine’ and vice versa. We share a lot of things, but we still have our separate income,” Nico explained.

For instance, 80% of Nico’s money is invested in LM10 Corporation, an agribusiness tech company he founded in 2012, as well as more diversified investments. The rest is invested in private equity at a 5% yearly return with no exit cost.

Solenn and Nico also agreed on putting the same amount to their joint account where they’ll get money to pay for their household expenses each month. But when it comes to personal expenses, they pay for their own. 

’Pag travel ko, sa bank account ko, ‘pag travel niya, sa bank account niya. Very modern!” Solenn shared.[2]

According to Solenn, this kind of set-up saves a lot of discussions about money and gives them the freedom and flexibility to plan and spend what they earn.

Read more:  7 Investment Tips for Newlyweds

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Put Aside Extra Money for Savings

Solenn admits that she’s a pretty good saver, even before Thylane arrived. But what’s changed now is that she also makes sure to put money aside for Thylane’s future. 

“We created a separate account for her where we put our extra savings, and we have been planning as early as now such as for when she starts going to school. It’s very important to try and look at what the future holds and to prepare for it,” she says.[3]

“And when it comes to spending on wants, we make sure we don’t spend beyond what we’re earning so that we can put aside enough for our savings.”[4]

solenn and nico - Put Aside Extra Money for Savings
Instagram photo by @solenn

Track Your Income and Expenses

For Solenn, it’s important to regularly monitor “what was,” “what’s to come,” and to prepare for “what ifs.”[5]

If you want to manage your finances well, Solenn advises couples to figure out how much they spend monthly and to prepare for financial emergencies. 

Now that Solenn and Nico have transitioned to a new chapter in their life with the arrival of Thylane, they have also taken steps to protect themselves and their financial future. 

Even if they’re young, successful, fit, and active, they made sure to get life insurance coverage to take care of their overall health and secure their family’s financial future. 

“It keeps me on track with my fitness and wellness goals and it made me realize the importance of investing and preparing for whatever life may bring,” Solenn said.[6]

Read more: How Much is the Cost of Owning a Dog in the Philippines?

Don’t Be Too Risk-Averse

When presented with various investment options, many people tend to choose the one with the lowest risk. For Nico, this is a pitfall that married couples must avoid.

“If you’re still young, the returns can benefit you as a couple in the long run. Get advice from financial advisors who can provide you with a suitable choice based on your risk appetite,” he said.

Final Thoughts

When it comes to money management, Solenn and Nico could very well be the ultimate #couplegoal and #finanspiration. Although there’s no one-size-fits-all rule for handling finances in a marriage, it doesn’t hurt to learn from the stories of money-savvy couples like Solenn and Nico.

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