Rita Cool, Certified Financial Planner at Alexander Forbes Financial Planning Consultants says couples who make separate decisions about money argue the most about it.
“According to a UBS Investor Watch report, couples who truly share financial decisions feel the most confident about their future - but only one in four couples fall into this category.”
Cool advises couples to talk about money, saying “love gets lost if money is not sorted out”.
In many cultures it is considered bad manners to discuss money. “If you speak to your partner about money, the perception is that you are a gold digger. But if you’re marrying someone, you need to know not only what assets they have but also what debt they owe.
"Be aware that there is ‘good’ and ‘bad’ debt – long term debt such as a home loan is seen as preferable over high-interest short term debt like store cards. Your future spouse’s financial standing would potentially determine the marriage regime you choose for example in community of property or ante-nuptial contract with or without accrual. Having a contract doesn’t mean you think you will get divorced, it is part of sound financial planning.”