Discussing money with a new partner should be different.
It should be done tactfully, with respect and all in your own time. When you're ready, it is important to be open and honest about your financial situation and be willing to compromise and work together to find solutions.
I once witnessed someone evaluating a new partner's finances via a detailed spreadsheet within weeks of a Tinder hookup.
My advice to this guy was run. This behaviour is a huge red flag. It may be a sign that this person is more interested in your money than getting to know you as a person. They may also be looking to use your financial resources to support their own lifestyle. ๐๐ฏ๐๐ฏ๐
You are no spring chicken, be smart with your finances.
You do not need to disclose your financial situation to anyone (ok unless legally required) until you are comfortable.
You can and should retain your financial independence. It is ok to keep your finances separate. Taking control of your financial life is empowering and ensures you stay in charge of your decisions.
โ๏ธOwn bank account
โ๏ธOwn budget
โ๏ธOwn living arrangements
โ๏ธOwn investments
โ๏ธOwn retirement savings
Protect yourself, your family and have a clear idea of what you are open to disclosing and at what stage. Establishing your financial independence is critical to ensuring your long-term security and stability - create your own bank account, budget, living arrangements, investments, and retirement savings to protect yourself and your family.
๐๐๐ค๐ ๐ ๐ฉ๐ฅ๐๐ง ๐๐จ๐ซ ๐ฒ๐จ๐ฎ๐ซ๐ฌ๐๐ฅ๐, ๐๐ง๐ ๐๐จ๐ง'๐ญ ๐๐ ๐ฌ๐ฐ๐๐๐ญ-๐ญ๐๐ฅ๐ค๐๐ ๐๐ฒ ๐
What you need to know
This information is provided by Lush Wealth Money Advice for Australian Women
One of our specialities is assisting women, pre, during and post-separation or divorce with their financial planning. We are a team of female financial advice specialists assisting ladies to achieve financial independence and make their own financial decisions with confidence.
The information contained in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regards to those matters and seek personal financial, tax and/or legal advice prior to acting on this information. Join the club of ladies who have their finances sorted, get in touch today!
We are available for appointments in our Newcastle or Sydney offices or Australia wide via video conferencing. Financial Planning Advice by Christine Lusher Certified Financial Planner.