HerMoney from Jean Chatzky
10 questions to see if you're wasting cash, and of course how to fix it. Is your mortgage rate over %?. Mortgage rates are at record lows. As if making the decision to move in with your boyfriend or girlfriend weren't can put tremendous stress on your relationship, so it's best to smooth out the ( See Ten Questions to Ask Before Saying 'I Do' for more advice on what any . your significant other rent to help you meet your mortgage payments. Refinancing your house may make sense for your situation, so use our refinance calculator to analyze your situation today.
Which company offers the better plan? How much does it cost as an employee, and how much extra does it cost to cover a spouse? Depending on the plan and your employer subsidy, it may be cheaper to maintain two separate health insurance policies. You can revisit the issue if you decide to start a family or switch jobs. She pays her balance in full each month. Who is legally responsible to pay off the debt once they marry? Both -- you're a team now B.
It's his debt and his responsibility C. Whoever has the bigger income D. It's his debt and his responsibility However, each couple must decide how to handle the situation in a way that works best for them.
The top five money issues couples argue about
Maybe she makes more money than he does and she is willing to help him out. Or perhaps they agree that he should concentrate on paying off his debt while she focuses on saving money for their short and lo Or perhaps they agree that he should concentrate on paying off his debt while she focuses on saving money for their short and long-term goals.
Once they are debt-free, they can decide together how to accomplish their joint financial goals. The golden rule for a happy marriage is to merge all of your financial accounts from the beginning. False For some couples -- especially those who have bought a house and had children -- pooling most or all of your accounts makes sense.
Avoid talking about money issues B.
Relationships & money | ASIC's MoneySmart
Working with Go Mortgages Although you can work with us over the phone or by email, we often meet with clients two or three times when arranging a mortgage.
The first time we talk, it is all about your plans and goals. We need to know what you want to do with your money. That includes main banks and smaller finance houses offering niche products. This means there will always be options, even in difficult circumstances.
And you decide on the best deal for you. Working with Go Mortgages is very easy.
The top five money issues couples argue about | Relate
If you want clear advice without pushy sales tactics, please get in touch: What is a pre-approved loan? Before you go house hunting, you need to have a good idea what you can afford. A pre-approved loan is negotiated with a lender.
It tells you that in theory the bank will approve lending up to a certain level. The agreement is based on your finances, not on the property, so things can change once you find a home. But it does give you a great steer on what you can afford to buy. A pre-approved loan lasts for six months. What if I want to pay off my mortgage as quickly as possible? Depending on your lender, you might not pay anything for this service because the bank pays us Read More Do I need to change banks? In case of a breakup, you could end up in a costly legal battle over the assets.
Advertisement If you are engaged to be married soon, however, you might consider opening a joint checking account to which you both contribute enough money each month to cover rent and other household expenses. Just make sure you keep a separate personal checking account for your individual expenses.
That way, you won't have to consult each other every time you want to buy a new video game or a trendy pair of shoes. Plus, having a separate account makes it easier for you to surprise your lover with a birthday gift or romantic weekend getaway.
After marriage, you and your spouse can discuss whether to merge your bank accounts completely or keep the separate approach. Put your arrangement in writing This isn't an issue unique to live-in boyfriends or girlfriends -- we've discussed the value of a roommate prenup before. This little piece of paper can help keep your trial of domestic bliss from becoming a nightmare. In it, you should detail how much each partner will pay for rent, who will cover what household expenses, when bills are due, and other space-sharing arrangements.
But didn't you opt for a live-in arrangement to forgo paperwork and legalities?
- Relationships & money
- Calculators & apps
- 5 Questions To Ask Yourself Before Considering A Reverse Mortgage
Just be aware that without something in writing, you leave your wallet vulnerable. Besides, what's more romantic than committing to the well-being of your partner and your relationship? See a sample live-in agreement. Keep major purchases separate and documented Because you don't have the same legal protections as married couples in case of a split, it's smart to keep track of who paid what toward every major purchase.
The easiest way to keep track of this is to make all major purchases separately, write down who paid for what on the receipt, and toss the receipt in a file. For example, when furnishing your new pad, you may find you're short of some essentials. So you might consider springing for the DVD player while your partner covers the cost of a new vacuum.
Five Money Rules for Moving in Together
This way, no one bears the full weight of furnishing the apartment, and you'll avoid arguments over ownership later if things don't work. Advertisement To afford bigger-ticket items, such as a living room set or washer and dryer, you may not be able to avoid splitting the cost. In this case, write down how much of the purchase each partner paid -- say you divided the cost -- and what will happen to the property in case you two split.
For example, who would get first dibs on the item? Or would you sell it with each person pocketing their portion of the proceeds? You also should keep previous property separate.