We all like nice things, especially when it comes to dating. We all want the kind of date you can share on Instagram. So sitting at the neighbourhood McDonalds isn’t really going to cut it. But shareable moments often come at a price, and dating can get pretty expensive.
So as a young couple that enjoys fun things together, my partner and I sat down to discuss how we would pay for these activities together, instead of one person footing the bill every time. As a result, we decided that we would create what we call the _Mjolo _fund. We opened an account together and put aside a set amount of money monthly to use for our dating escapades.
Traditionally a joint account is something newly married couples would consider, but with the cost of dating these days, it is not a bad idea for dating couples to club together for dates. Since we started using the fund, we now take time to think about the activities we want to do and as a team look for cheap dates. Our preferences are experience dates where we can create lasting memories. We found that we now have better control over how much we spend on entertainment as a line item in our individual personal budgets. However, for the Mjolofund to work, there are certain points to tick off the checklist.
Date within your financial lane
Dating in your financial lane isn’t about monetary values but our relationships with money, how we both perceive money and our attitudes towards it. Financial compatibility must be a top priority for all couples looking to go the long haul.
Maintain individual personal budget and financial goals
Do not neglect your own individual finances. You are still responsible for yourself. Ensure that you keep up your own financial goals and keep track of your personal spending outside the Mjolofund through a budget.
Agree on a fixed contribution amount that you both can afford
It is essential to discuss what is realistic and affordable for both of you to contribute monthly to avoid any partner feeling pressured.