Financial Planning for the Entire Household
Unless you live alone, your financial picture includes other people. That’s why Brightside serves every adult member of your household—for free!
Our goal is always to get you to financial health, and there’s simply no doing that when other people’s financial lives are intertwined with yours. In the case of roommates, there might be shared expenses like rent and bills, while with spouses and partners, there can be shared or individual debts, obligations, assets, and plans to consider.
Our Brightside Financial Assistants have had a lot of success helping families and households with their finances—everything from helping a married couple pay down their debt to finding support for a significant other who’d lost their job. Along the way, we’ve learned a few things that are important for a successful household:
1. Set and agree on your goals. The more aligned you are about your financial goals, the more likely you will be to meet them instead of being pulled in different directions. Your Brightside Financial Assistant can work with you and your household members to discover what’s important to each of you, help you set shared goals, address any knowledge gaps, and to learn how to compromise if things get off track.
2. Coordinate bills and spending. You don’t need to combine finances but you should keep track of what you each spend and the bills you need to pay. Your Financial Assistant can help you set up a spending tracker for upcoming bills. And with Brightside’s Spending Snapshot, you can link your accounts and automatically track your spending each month.
3. Choose someone to lead. It’s quite common for one member of a given household to manage the household budget. We’ll work with whoever heads up your household’s finances to develop a plan to reach your shared goals. And we can help you both get on the same page and be better prepared for when unexpected issues arise, like a sickness or a job loss.
4. Don’t ignore individual needs. Everyone has needs, and you can’t just cut them off. But often what sidetracks a household’s finances is when one person spends on something unexpected, especially if they do so regularly. Make a list, prioritize the important items, and allocate some part of your budget to them so that you can intentionally support the things that you love to do without derailing the household’s finances. Your Brightside Financial Assistant can help you and your household members come up with an approach that’ll allow you to balance individual needs with your shared goals.
We know financial health means health for the entire household. Your Brightside FA is an impartial advisor who will listen to your circumstances, either individually or together, and help you come up with the best options. So please let every adult you live with know they can use Brightside, 100% confidentially and completely free of charge.