Tip of the week

As it is Valentines weekend, we have to give advice on how to keep love alive through sensible financial management. More marriages break down because of money worries than any other cause.

The advice I would give depends on who's reading. For instance, historically men - being control freaks (only joking) - like to be in control of family budgets and want the woman to give all their money to them. But the reality is, some men are good with money and some women are very bad with money. To an extent it really isn't a sexist issue.

So the advice, for love to stay alive, has to be to keep your money entirely separate. There is nothing wrong with having a joint account into which you both pay to meet household bills. But otherwise you simply don't pool resources. It makes life considerably easier when/if you split. Never allow someone else to be a second card holder on your account. If you fall out, they can go on spending. Guess who pays? You do.

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