John Lowe of MoneyDoctors.ie advises all couples to come clean when it comes to money from the start, especially those in the throes of living together.
You may think you are the perfect match, but one of the biggest compatibility tests for couples is bringing the finances together. Will this kill your romance? Are you afraid you might just open a can of worms?
But somewhere between proposing and saying"I do" there are some key questions you and your better half should be asking each other.Not exactly an ice-breaker but if you're going to be marrying this person and sharing their life you should both volunteer this information freely and hold nothing back. In an age where student loans over €30,000 are not uncommon, this debt discussion is crucial.
The answer to the last may be predicated by the financial commitment of both spouses to the mortgage until maturity – normally the mortgage is based on your joint annual income for the full term. This is also the time to ask your partner a few testing questions. For instance, if they have a gambling or shopping problem, even a drinking or smoking issue - is this a problem for you now and are you prepared to live with it?
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