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Money alone does not make us happy. But the opportunities that they give, and most importantly, the ability to properly manage them, allow you to feel independent and enjoy life. A family bank account is one such useful tool. Managing it is a valuable skill that gives confidence and helps build relationships with loved ones. How it works?
Partners
1. Learn to negotiate with each other
Divide all expenses equally, live only on the earnings of the husband (wife) or create a certain common fund, in which the husband and wife participate in proportion to their incomes … Each family chooses a convenient type of financial relationship for itself. The main thing is that both partners should be satisfied with these relations and not one should feel disadvantaged. After all, if for every trip to a cafe and the purchase of tights you have to ask separately, this will infuriate anyone. Therefore, by the way, the famous French psychotherapist Jacques Salome considers the ideal style of monetary relations, in which, in addition to the general budget, each of the partners also has personal savings. For example, you can open in a mobile bank, and this will allow you to build such a scheme in the best possible way. Both cards, husband and wife, can be linked to it at once, so that everyone will transfer money there from personal accounts. It is easier to pay all family expenses from this account: utility bills, repairs, fitness, theater tickets – anything. By opening a family account, partners acknowledge that they unconditionally trust each other. At the same time, this is a great occasion to calmly and diplomatically discuss each other’s financial habits and make a plan that reflects the dreams and wishes of each.
Children
2. Help your child manage money
Pocket money is not a salary and not a way to reward or punish. This is a tool with which a child learns to manage his finances: plan his expenses, save money, save up for an expensive purchase, make choices and be responsible for the consequences. Personal finance expert Mary Hunt recommends that you start giving pocket money—a tiny, symbolic amount—as early as age seven and gradually increase it year after year. And the age of ten is the best time to bring your child to the bank and open a personal account together with him or get a debit card linked to a joint account. A shared account is a great financial education tool. Don’t worry that your child will devastate him with a couple of unpredictable purchases, because you can always set a certain spending limit for him. He will use only the amount that you decide to allocate to him monthly. You can set different access levels so that small children do not receive SMS about their parents’ purchases. And you, in turn, will see all their operations on the map.
A shared account is also a reason to discuss the family budget with a teenager who (if you wish) can see on the phone how often and how much money is spent. Explain to your son (daughter) what you have to pay for and that you expect him to spend money wisely. The child will be calmer if he is clear about what your family can afford and what not.
Parents
3. Show care delicately
Sooner or later the time comes when our parents become dependent on us. This can happen suddenly if one of them gets sick. Or happen gradually, when year after year parents lose energy and the ability to fully care for themselves. In both cases, we are forced to assume the role of a helper, both physically and financially. And this reversal of roles is sometimes difficult. Many elderly parents, while maintaining self-esteem, refuse to accept the help of children, and it is embarrassing for them to offer them money every time or leave banknotes secretly. Having opened , you will avoid such a sticky situation. By the way, not only parents, but also brothers or sisters can be connected to the account. And none of you will have to go to an ATM every month and manually transfer money. All adult children can contribute to the care of their parents in proportion to their income. Mobile money, of course, does not cancel calls and personal meetings, but it allows you to transfer the financial issue to the level of business relations. You will show respect for the personal boundaries of a loved one and at the same time take care of him. And your father or mother, being co-owners of a common account, will be able to feel that they belong to a large family and feel proud of their adult children.
Project
4. Trust and control
Saving up a large sum of money for some important collective event, such as a high school graduation party or a reunion of classmates 20 years later, can be difficult.
Not everyone can find the right amount on the go, and some services require pre-ordering, partial payment… A family account eliminates a lot of problems: it saves time for all participants and makes any money movements transparent – all contributions, payments. You can go on business trips, live in different cities and at the same time always be in touch – transfer funds, view the history of operations and thus unobtrusively control the process. In a word, a common account not only allows you to manage fairly large-scale events, but also really unites friends – it brings them together at a distance and frees up time for real communication.
Self-development
5. Learn to manage money
Many do not even realize how many fears and negative beliefs are associated with money and how much they interfere with building a career, developing relationships and living freely. Here are just a few of them: “I can’t afford it”, “To save, you need to save hard”, “It’s hard for me to part with money”, “Money ruins relationships”.
A psychotherapist will help you figure out what the underlying problems are hidden behind these beliefs, realize your fears and work through traumas. But everyone can rebuild their financial habits and learn how to properly manage money. A shared bank account is one such tool. Analyze your expenses together with your partner at the end of the month and discuss which of them were superfluous and how to avoid them in the future, and which projects, on the contrary, require large investments. Learn how to set up templates and auto payments so that money for an apartment, Internet or kindergarten is automatically debited. Starting to transfer money from your personal account to pocket money for a child or gifts for loved ones is one way to learn how to be generous and enjoy life more.
All these various opportunities, which save time and make us closer to each other, are available to the clients of ALFA-BANK JSC today. This service is called “Family Account”, which can be opened in a mobile bank. Up to four users can be connected to the account at the same time. Don’t worry if you still don’t understand how to set up different access levels or set spending limits on the card – you can find out about this on the page .
JSC “ALFA-BANK”. General license of the Central Bank of the Russian Federation No. 1326 dated January 16, 2015
A “Family” account is opened as part of the “Maximum+”, “Comfort”, “Optimum”, “Corporate” service package of Alfa-Bank free of charge. To access the account, the client needs to install the Alfa-Bank mobile application. Additional cards for a third party are opened free of charge as part of service packages. The number of cards depends on the selected service package. JSC Alfa-Bank. General license of the Central Bank of the Russian Federation No. 1326 dated January 16.01.2015, XNUMX