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Relationships
Q: We are friends with another couple in our neighbourhood. Despite having good jobs, they keep going deeper into debt on their line of credit and often times their parents help them out; they’re always on the edge financially. They’ve said they need help with their finances, but they keep delaying the inevitable. I see how stressed they are and it’s hard to stand by and watch. How can I help them?
Q: My partner and I fight about money all the time. She's a spender and I'm a saver. She says I'm too controlling about money and no fun, and I think she's too frivolous with money and doesn't care about our financial future. If we don't start figuring this out, I'm afraid this could break us up. Do you have any advice for us?
Q: My spouse and I are both in our second marriages and we share custody of our kids from our previous relationships. We're committed to making this work, but part of building our new life together is figuring out the finances. We manage money differently and catch ourselves arguing in front of the kids. How do we fix this?
Q: My husband and I argue about money, but not because we don't have enough. We have average incomes and our only debt is a modest mortgage, but he wants to save and never spend an extra cent. He thinks credit cards are evil and believes in paying cash for everything. I think it's OK to spend carefully and live a little. How can we find a compromise?
A: When most of us think of couples disagreeing over money, we often assume it's because there isn't enough—or that debts have become unmanageable.
Q: My wife tells me that relationship experts say that going on regular "dates" with your partner is the key to a long-lasting relationship. I admit that I tend to take things for granted. The trouble is the cost, so what do the financial experts say?
Q: After finding out that my partner spent over $1000 on toys for his car, I had a spa day and got something for me too. It seemed like a good idea at the time, but we got into a huge fight about money. What can we do to fix this?
Q: I'm planning to propose to my girlfriend soon. I know she will say 'yes' but I'm worried about telling her that I've had some financial troubles in the past. How much should I say?
A: Marriage can be a wonderful experience but it is crucial that you start your life together knowing where each of you stands financially.
Here is a common scenario: a couple splits up, gets a separation agreement and then one of them tries to apply for a loan. The lender says, "Sorry you don’t qualify because your credit bureau shows you have this other debt with someone else." The client replies, "What? That’s not my debt! That belongs to my spouse. We’re separated. We split up all the debts, and that debt belongs to my spouse.
