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April 26, 2011
Starting a Life Together? Time to Talk Finances
If you are considering co-habiting or marriage (or even marriage to a future King), there’s probably a lot on your mind. Sitting down to discuss money issues may not be at the top of your list, but it’s one of the most important tasks to tackle if you’re starting a life with someone.
These days, couples are inundated with cautionary tales and divorce statistics warning of financial disputes–not exactly what you want to hear. It’s true that money matters are complicated and have long been one of the top reasons why couples fight and split up. But discussing issues up front and getting your finances in order from the outset can help keep money from putting a damper on your relationship.
Tackling your finances as a couple starts with assessing your situation. Do you two share the same financial attitudes, habits, and goals? Day-to-day questions such as whether you will share accounts, who will pay the bills, and how you will budget money together are important to discuss, but a candid conversation is the essential starting point.