What are financial red flags in a relationship?

What are financial red flags in a relationship?

When you start a new relationship with someone, it’s common to be on the lookout for red flags, which might include financial red flags. Some people aren’t sure whether or not they should combine finances with their spouse once they are married. Even in our office, we have variations in opinion on this matter. Some people split all expenses equally. Each spouse gets paid in separate accounts and after paying bills, what’s left belongs to both individually. On the other hand, there are those who are more traditional and combine both incomes into one account.

Before making a more serious commitment, you need to be aware of some financial red flags. The biggest red flag is secrecy. Pay attention to your partner’s behavior around money. If they avoid the topic altogether, don’t share much about their financial history, or make big purchases without sharing details or having a prior conversation, that can be a red flag. Ultimately, look for a companion that has similar thoughts about how to handle finances, and who shares some of the same goals as you.

Have more questions? Contact Us

Casey Smith
President, Wiser Wealth Management

Click here to schedule a consultation with one of our financial planners.

Listen to Our Podcast:

learn-more

Categories

Recent posts

  • What is the best way to take your RMD?
  • Does a Qualified Charitable Distribution (QCD) reduce taxable income?
  • Why Financial Planning is Different for Pilots

Share This Story, Choose Your Platform!

Wiser Wealth Management, Inc (“Wiser Wealth”) is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). As a registered investment adviser, Wiser Wealth and its employees are subject to various rules, filings, and requirements. You can visit the SEC’s website here to obtain further information on our firm or investment adviser’s registration.

Wiser Wealth’s website provides general information regarding our business along with access to additional investment related information, various financial calculators, and external / third party links. Material presented on this website is believed to be from reliable sources and is meant for informational purposes only. Wiser Wealth does not endorse or accept responsibility for the content of any third-party website and is not affiliated with any third-party website or social media page. Wiser Wealth does not expressly or implicitly adopt or endorse any of the expressions, opinions or content posted by third party websites or on social media pages. While Wiser Wealth uses reasonable efforts to obtain information from sources it believes to be reliable, we make no representation that the information or opinions contained in our publications are accurate, reliable, or complete.

To the extent that you utilize any financial calculators or links in our website, you acknowledge and understand that the information provided to you should not be construed as personal investment advice from Wiser Wealth or any of its investment professionals. Advice provided by Wiser Wealth is given only within the context of our contractual agreement with the client. Wiser Wealth does not offer legal, accounting or tax advice. Consult your own attorney, accountant, and other professionals for these services.

Sign up for our newsletter!

Our latest blogs, podcasts, and educational videos delivered to your inbox weekly.