Every peso a couple earns has the power to either strengthen or strain their relationship. For Karlo Biglang-Awa, a Registered Financial Planner (RFP), the difference lies in whether couples work toward a shared vision. In an interview with Financial Adviser PH, he explained why couples who align their financial priorities early—from their very first paycheck—are far more likely to build lasting security and freedom.
“It’s not about who earns more or who spends less,” Biglang-Awa said. “It’s about creating a roadmap together, so every financial decision supports the life you want as a couple.”
Here’s how couples can plan their finances through the different stages of life.
Starting Strong: The First Paycheck
Many young professionals treat their first paychecks as a reward to splurge. But Biglang-Awa suggests couples see it as the foundation for their financial journey.
“Your first paycheck is an opportunity to start building habits together,” he explained. This means setting aside money for an emergency fund, beginning to save for big-ticket goals like a car or house, and getting used to tracking income and expenses.
The goal isn’t perfection, but practice. “When couples develop money habits early, they set a rhythm that can last decades,” he said.
Planning for Milestones
As couples move forward—getting married, starting a family, or buying property—the need for intentional planning grows. Biglang-Awa suggests dividing goals into three categories:
Short-term goals (1–3 years): Emergency funds, household furnishings, or travel.
Medium-term goals (4–10 years): Buying a car, saving for a child’s education, or starting a business.
Long-term goals (11+ years): Retirement, property investments, or funding children’s higher education.
“Listing goals by timeline helps couples avoid confusion. You know what needs attention now versus what can wait,” he said.
Strategies That Work
Once goals are identified, strategy comes next. Biglang-Awa recommends couples approach it as a system, not just a list:
Prioritize together. Not all goals can be pursued at once. “Ask yourselves: which goals are most urgent, and which ones can wait? Building an emergency fund should come before a vacation abroad,” he said. Couples can rank goals by importance and assign a realistic time horizon.
Budget with purpose. Beyond listing income and expenses, create a spending plan that reflects your shared values. For example, a couple saving for a home might cap dining-out expenses and redirect the difference into their house fund. “A budget is not about restriction—it’s about making space for what matters most,” Biglang-Awa explained.
Stay flexible with life changes. Promotions, pay raises, job losses, or the birth of a child can shift priorities overnight. “The plan is a living document,” he said. “Revisit it quarterly or at least twice a year so you can adjust without resentment.”
Hold accountability checks. Set regular “money dates” to review progress. This could be as simple as sitting down once a month to track savings, revisit spending, and check if you’re still on track. “Accountability keeps both spouses engaged, and transparency prevents small issues from becoming big arguments,” Biglang-Awa added.
Diversify your income. Relying only on salaries can be risky. He suggests exploring side hustles, small businesses, or investments that match your risk profile. “Extra income streams give couples more flexibility and protection against setbacks,” he said.
Celebrate small wins. Reaching your first ₱50,000 savings milestone or finally paying off a credit card deserves recognition. “Small celebrations keep motivation alive. You’re not just hitting numbers—you’re building a life together,” he said.
These strategies combine discipline with adaptability, allowing couples to stay united even when challenges arise.
Don’t Forget Health and Retirement
While it’s tempting to focus only on immediate needs, Biglang-Awa warned against ignoring health and retirement.
“Medical expenses are one of the biggest threats to savings. Insurance and healthy habits protect both your finances and your family,” he said.
He also noted that retirement planning must begin early—even in your 20s or 30s. “Too many Filipinos delay retirement planning until it’s too late. The earlier you start, the lighter the load will be,” he added.
A Balanced Perspective
For Biglang-Awa, financial planning is not just about wealth accumulation. It’s about ensuring stability while keeping family values intact.
“Money goals should never come at the cost of your relationship,” he said. “Plan together, adjust together, and always put your marriage and family above material possessions.”
Final Takeaway
From the very first paycheck to the last years of work, shared financial goals allow couples to grow not just their money, but their relationship.
“Financial planning is a journey,” Biglang-Awa told Financial Adviser PH. “The earlier you start together, the stronger and freer your future will be.”
With open communication and a clear roadmap, couples can achieve security, freedom, and the joy of knowing they built their life together, step by step.