Finances for new couples

Avoiding the subject of money, as most do, isn't a smart strategy.

Gail Bebee 2 September, 2016 | 5:00PM
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A recent CIBC poll found just one-third of couples about to marry or enter a common-law relationship have had a serious talk about money. The vast majority of those who avoided such a talk (83%) said they didn't know either how or when to address the topic, or planned "to play it by ear."

Money problems are often cited as one of the main reasons for divorce. For example, 68% of respondents to a 2014 Bank of Montreal survey ranked conflict over finances as their top reason for divorce. "Playing it by ear" or avoiding the subject of money is not a smart strategy for a couple setting out to build a life together.

When and how should couples who have decided to marry or cohabit have a talk about their personal finances? And what exactly should they discuss?

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About Author

Gail Bebee

Gail Bebee  Gail Bebee is an independent personal finance speaker, teacher and the author of No Hype--The Straight Goods on Investing Your Money. She can be reached at gbebee@gailbebee.com; her website is www.gailbebee.com.

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