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Planning Beginner: Young Couples and Money

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1.
For newlyweds, joint accounts are always better to have than separate accounts.
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False. Joint accounts create problems for some couples. Separate accounts or a hybrid of separate and joint accounts can work better for many.
2.
When is the best time for a couple to begin talking about finances?
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Before the engagement. Learn your partners approach to money early on in order to head off possible problems.
3.
Which of the following is a mistake that couples make with their money?
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Having plans that they dont share with each other. Keeping secrets can undermine the trust in a relationship.
4.
How often should newlyweds discuss their finances?
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Regularly. Regularly discussing finances can keep you on track as well as predict oncoming problems.
5.
Most couples find that dealing with differences in their partners income is not a significant issue to be addressed.
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False. Income discrepancy is a frequent source of tension and debate.