We had friends over for Take Away last night. They've recently got engaged which is very exciting indeed. They make a lovely couple and I'm sure they'll be very happy together forever. Awww!
All this talk of weddings, got me thinking about financial compatibility again, as you know myself and Love of my Life have sat down and discussed our money situ and our financial plans for the future, fortunately we're totally on the same page. Phew!
This email from Moneyextra popped into my inbox the other day, it's fairly common sense but if you're already part of, or you're thinking of joining the loved up brigade - it's certainly worth considering the following...Make love, not debt...
1.) Spend Fair: If one of you earns more than the other, work out your
contributions to monthly bills and mortgage in percentage terms rather
than a flat rate.
2.) Keep Separate Bank Accounts: When you are left with your relative
spending money, keep it in a separate account.
3.) Seek Financial Advice: If you are looking to invest jointly,
remember that risk outlooks and expectations will differ - so seek financial
advice together first.
4.) Register as Joint Tenants: If one of you already owns a property,
change the mortgage to joint tenancy. This means that if one of you dies the
part of the property you own goes directly to the other.
5.) Make or Update Your Will: This is especially important where there
are children from previous relationships.
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