Money Issues that Mess with Your Relationship

Self Magazine

by Amanda Woerner



Meredith Jenks
Meredith Jenks

So, you ask, what's cash got to do with love? Everything. But experts say it's not how much either of you has -- it's how you deal with it that determines if you'll be happily merged.

He wants to combine dough; you want some financial independence.
Hey, if it's your money, you should have a say! A fair compromise: Open a shared bank account into which you each deposit a percentage of your salary (enough to cover expenses and contribute to savings), Torabi says. Whatever's left from your paycheck goes into your personal account. Invest it, save it, blow it -- your call.

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You've got killer credit. His is so-so, or worse.
Not to sound harsh, but your good credit takes priority here. Sharing a credit card account or cosigning for a car payment or other loan means you'll be on the hook for any debt he accrues. If he skips a payment and you can't cover it, that will affect your score. For now, help him focus on building his credit (timely payments!); then you can share plastic.

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He's spending cash faster than you can pocket a C-note.
Joint funds should be for joint purposes -- trips, dinners out -- not his gadget obsession. If he has to have a new iPhone, set a general rule that he can do it with cash from his own account -- after he's contributed dough to your shared account to cover bills. That way, you aren't playing money monitor and he doesn't feel badgered.

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