Four Financial Realities of Being in a Relationship
June 30th, 2011One of the most common themes I see in questions I receive from readers is an uncomfortable sense of what financial roles are in a relationship. A person lives with someone/is engaged to someone/is married to someone and is unsure about how to handle their partner’s debt/spending/shared purchases. That sentence covers the core of a lot of the questions in the reader mailbag.
There are a few key elements that seem to often come up in my responses to these questions as well, and those elements really form a strong foundation of how people in relationships should think about and handle their money.
It really boils down to four key principles that really flow together.
Talking about money in a relationship is absolutely essential. When you’re in a relationship intense enough that you’re sharing many of the costs of life, you have to be able to communicate clearly about those costs, as well as the income you both have with which to cover them and the plans you each have for the future.
Tags: Financial, Financial Realities