Money & Marriage

Talk Hard Numbers Before You Whisper Sweet Nothings

Finding love the second time around is a wonderful thing. But before you say “I do” again, there are some financial matters to consider that you may not have had to worry about the first time round. It can be harder to merge finances, especially if one partner has far more assets than the other, and you may have children to bear in mind. Here are some points to think about.

Will you have a joint bank account or keep separate ones?

If you’ve been on your own for a while and are used to having sole charge of your money, you may find it difficult to have a joint account. Or you may have come from a relationship where money was equally shared and you find it strange to have separate accounts. Perhaps the ideal situation is to keep separate accounts into which your salary or pension is paid, but set up a joint account which you then put money in for shared expenses like mortgage, household bills, holidays etc.

What about the kids?