Make sure you have the ‘money talk’ with your significant other
RICHMOND, Va. (WWBT) - Whether you’re in a new relationship or you’re about to get married, it’s always a good idea to eventually talk money.
Cherry Dale a financial coach with the Virginia Credit Union says sit down at dinner and gently bring up the money conversation.
“Are you a spender or are you a saver? We tend to attract the opposite,” said Dale. “I’ll tell you, the longer I do this, the more couples I meet, I see that, so there’s usually a spender and a saver.”
And Dale says if you’re getting ready to make a commitment to someone like getting married or engaged or moving in together, you need to have a heart-to-heart financial discussion.
“I would highly suggest you disclose debt and disclose credit scores as well because those two things impact relationships in negative ways moving forward,” said Dale.
There are discussions you can have about how you will bank. Separate accounts or all together? It’s an important topic.
Dale says if you can confront these early on, then there are no surprises when you are buying a home together.
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