Q: I just got engaged and while I’m really excited about it, my fiancé and I haven’t really discussed money issues. For the most part, we’ve kept our finances to ourselves. At first, I thought we would talk about it when the time was right, but now that we’re engaged, I’m not sure how to approach it. Shouldn’t I know something about how he handles his money before we say, “I do?” What exactly … Read More
Financial issues in a relationship can be complex and challenging. It’s likely you’ll encounter some point in time where you want one thing and your partner wants another. In such situations, wouldn’t you prefer to avoid a money argument? But how do you keep the peace without giving up what’s important to you? Use these strategies to avoid an argument and negotiate your position effectively: 1. Refrain from taking offense. When you see your partner is getting “hot … Read More
Question: Our son and daughter in-law have asked us for a loan. What should we do? Answer: It’s not uncommon, especially in difficult economic times, to have a family member or a friend ask to borrow money. While some people decide against the idea altogether, there may be circumstances where you feel it’s worth the risk. I’m going to give you a few points to keep in mind when trying to decide whether to … Read More
Question: I’m marrying someone with bad credit. How will it impact my credit? Answer: Even if you’ve had spotless credit, you may be turned down for credit cards or loans that you apply for together if your spouse has had serious problems. It’s a good idea to deal with this issue now rather than wait until after you’re married to discuss it. Attitudes toward spending money, along with credit and debt problems, often lead … Read More