According to internationally acclaimed personal finance expert Suze Orman, “it pays to have a clear strategy when it comes to meshing love and money.” While this can be a problem for many couples over the years, it doesn’t have to be.
In a recent Q & A on Oprah.com, Orman discusses five key strategies to set for smooth sailing:
- Every woman needs her own savings in addition to a shared account
- Every woman also needs one credit card in her name only
- Debts you had prior to a marriage are yours alone–unless you actively merge them
- Be pragmatic about the assets you bring into a relationship
- After you marry, every asset either of you acquire is jointly held
What do you do? Stuff singles under your mattress for a rainy day? Hold a rousing game of rock/paper/scissors to figure out who will pay this months cable bill? Have a fun and effective strategy that works for you and your partner? Fill us in!
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