Ideas On How Unmarried couples Should Handle Their Finances


Money matters in relationships have always been left for the legally wedded couples.This is about to change because a recent review by Deborah Fowles and Margaret James shows that the number of unmarried couples has increased by 88% between 1990 and 2007. The research further shows that 12% of couples are living unmarried with majority of others who are legally married having cohabited first.

The topic about money and finances can never be evaded in any relationship but this changes when the two of you decide to live together. This means you Will have to share everything if possible your accounts. It is always easy for legally married partners because they could join their accounts or access each others accounts easily. For those dating or cohabiting,things are little bit different.

Here are some easy and stress free ways to handle your financial issues in a cohabiting status of your relationship. I hope it helps.

#Be truthful of your earnings; Honesty in any relationship saves a lot of scandals and helps the relationship move on swiftly. The first step to take in a serious relationship is to tell the truth about what you earn so that you could plan for it well. Most People tend to hide what they truly earn in order not to be judged by their partners but once things get serious between the two of you,it is high time to face the bull by the horns. This Will help the two of you know how well to deal with your finances

#Share spending between the two of you; You can choose to share financial responsibilities like paying rent and bills according to what you earn. This step really helps one to be a responsible partner, knowing what to pay for and when to go it.

#Delay having properties together;Unless you are very sure your relationship is going to end in a marriage or a permanent, long lasting one, do not be quick to buy properties together like houses or a piece of land. If so make sure you know all your rights and include the relevant authorities like lawyers. Often this step raises a lot of trust questions but this is life and anything could happen.This is where counseling comes in.

#Seek Counseling togetherIt is always best to include a counselor in financial decisions you feel you cannot agree upon. Sometimes you might feel like your partner is being unfair and instead of fighting and listening to wrong advices from friends and family,a relationship expert on matters money will always come in hand.

#Discuss on vacations and treats;As much as vacations can eat into your pockets,they are a fun thing to do and couples will always wanna do it. It is always best to discuss on the where (should be comfortable for both of you) When ( should be at the time both of you can manage ) and who(should know who is going to finance it). When going out for dates too,know who is going to pay for the food or the experience and cost incurred. This Will help you go out more and not feel the financial burden.

#Discuss on how to manage debts; If you two have personal debts ,let it be known to your partner. This will help the two of you consider it when planning for your money. If you have a joint debt too,consider paying it together so that you will not have issues at a later date.

I hope all the above will help you stay with your partner in peace without arguing over money. Please like and share for more tips on relationships.