Important Things to Consider When Combining Finances in a Relationship

The panel included: David Almonte: CPA, CGMA, member of the AICPA’s National CPA Financial Literacy Commission, Shannon McNay: Writer for Student Loan Hero; Rod Griffin: Director of Public Education at Experian; and Christina Roman: Social Media Specialist at Experian.

We also featured financial tips all week on Snapchat.

Questions We Discussed:

• Q1: What does it mean to combine finances in a relationship? What all does this entail?
• Q2: How can you tell if you’re ready to combine your finances?
• Q3: What questions should you ask before deciding to combine your finances?
• Q4: How can couples ease into the process of combining finances or test the waters?
• Q5: What are common mistakes couples make when combining finances?
• Q6: How does credit impact the financial health of a relationship?
• Q7: Is it wise to combine finances with someone with different spending habits?
• Q8: What should unmarried couples be cautious of when combining finances?
• Q9: What educational resources are available to help couples take this next step?
• Q10: Any final tips for couples interested in combining finances?

Resources:

Marriage and Credit via Ask Experian

Joint Accounts Can Help a Spouse Qualify for Credit via Ask Experian

Audio: Joint Accounts and Your Credit via Ask Experian

6 Things to Never Do When Sharing Finances via WiseBread

If you’ve never heard about #CreditChat, here is a brief overview:

Relevant chats on YouTube:

• Ways to Control Emotional Spending
• How to Juggle Debt & Retirement
• How to Pay Down Credit Card Debt Faster
• How to Eat Healthy (Without Breaking the Bank)
• How to Throw a Fun Dinner Party on a Budget