Comments on: Frugal advice for newlyweds

By: Sara Noel

Sara Noel — Sat, 30 Jan 2010 23:35:41 +0000

Both good suggestions. Thank you.

By: Christine S.

Christine S. — Thu, 28 Jan 2010 02:07:48 +0000

Having almost been one who was conned into a marriage of convenience for him I would like to add a comment. If money wasn’t discussed before the marriage by anyone reading this forum, you found out the hard way and are dealing with it together. I would have some serious second thoughts if I found out about any hidden debt right after marrying someone. I would think it would be grounds for an annulment (under the deception rule probably), but unfortunately, it still may not keep the creditors away from you and you still have to pay for a divorce – lawyer & court fees. (If the lying spouse files for bankruptcy, the other spouse may automatically be in the hook for all of the other spouses debts in some states.)

I kind of small forgotten medical bill is one thing but $10k+ on a credit card or worse is something else.

By: Jenn D.

Jenn D. — Mon, 25 Jan 2010 17:51:02 +0000

These are great, practical tips!

I’ve found that it’s particularly important to each partner have some spending money that is totally their own. That way, both partners feel like they have independence to make their own purchases. However, there should also be an agreed-upon maximum amount for those purchases; anything above that amount needs to be a joint purchase. For example, if a purchase is under $100, just buy it, no need to consult your spouse. But if the purchase is over $100, both partners need to agree to buy it. This might seem silly, but it really does eliminate money-related fights later, especially if one spouse is more budget-conscious than the other.