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I've noticed recently that among my married or co-habitating friends and family. one person typically handles all the financial stuff.  Usually, they claim that it's because one person is just better at money management, or that one partner is too lazy to get involved, or that a big money mistake was made in the past and the offending partner is too scared of repeating it to touch anything.  Unfortunately, by leaving financial matters in one person's hands alone, these couples are making a critical error in their financial lives.

Aside from the importance of equity and openness in a healthy relationship, couples should also consider what would happen if the relationship's financial guru were to perish, or if the relationship were to end.  It's always best for both people to be aware off credit card bills, mortgage payments, and other shared expenses so that they can plan their spending together.  Even if one person is going to be in charge of the check book, he or she should always check in with his or her partner so that no one is in the dark about financial matters.      

Carrie @ 12:22 | comments(0) | Permanent link