4 Tips for Not Letting Money Tear You Apart

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I've recently been contemplating what it would be like if my boyfriend and I moved in together and started sharing living expenses. While I don't have a Black Credit record, it's not spotless, while his is. He's very stable in a career, while I flit from job to job looking for a niche and enough money to cover everything. I found this article today that seemed very timely for it. One line sticks out in my head: "Can you be truthful and open with this person? If you can't, then your relationship is already doomed." I thought, how very true. While my boyfriend and I are well aware of many things about each other's pasts, money is something we don't often talk about together, so maybe it's time for me to come clean and admit to him that I don't have the same stellar credit rating that he does? Anyway, here were 4 tips at the bottom of the article on how not to let money tear you apart that I thought I'd share: Have Separate Bank Accounts Keep your personal account and open a joint account for shared expenses, like bills or savings for a home. The joint account should be online, so you both have access to it. Share the Relationship, Not the Debt If it's not your debt, and you have not signed for it, you have no legal responsibility to pay it. Take the approach that you're not in debt together, but have made a choice to be in a relationship together. Instead of making debt payments, help a partner by covering a shared bill or groceries so that they can put more toward their debt. Never Co-sign a Loan Banks are in the business of selling money, so if a bank deems your partner a poor risk, he or she probably is. Check your Balance It's rare that two people have similar financial pasts and spending habits. Usually one partner is careful with money, and the other is not so careful. Find a balance where you both feel safe and comfortable. Money should not be a taboo subject, especially if you share expenses.