Financial IQLifestyle February 13 2018

'Til Debt Do Us Part: How to Discuss Finances with Your Partner

Are you ready to take your relationship to the next level, for richer or for poorer?  It may be time to discuss your finances with your partner. It isn’t the most romantic advice, but to avoid relationship problems down the road it is important to have “the talk” before things start getting more serious.  

What to Talk About

Your Debts

It’s important to discuss debt with your partner before making any long-term commitments. Be honest about the amount of debt you may have in order to come up with a realistic plan to pay it off together. Depending on the circumstances you may find it’s best to continue to pay off debts individually as opposed to combining them. Consider your debt a small price to pay for a lifetime of love!  

Your Bank Accounts

If you are deciding to merge bank accounts, make sure you and your partner are willing to get rid of the “it’s my money” mentality. Once combined, your assets should be viewed as ours instead of mine. Whether you share accounts or not, stay conscious about how you and your partner spend. If one of you is a big time saver and the other is an over-spender, it could cause many heated arguments in the future. Try to build a plan that can cater to both lifestyles, like maybe fitting in a small shopping budget while still adding to your savings account each month. If both you and your partner are both big spenders, consider discussing your long-term financial goals and what sacrifices you may need to make in order to get there.  

Your Credit

While other aspects of your relationship may be becoming one, your credit score will always be yours. Since your credit report is tied to your social security number, it will always remain separate. However, while the reports are separate, anything from a joint account can affect both of your credit scores. You should work together to improve each other’s scores if you are hoping to make any major purchases, such as a home. The lender will look at both scores and while yours may be high, your partner’s lower score may impact your rates.   By: Meagan Rochard   Sources:

Search Results for query

December 17 2018

FHA Announces New Loan Limits for 2019

The Federal Housing Administration (FHA) has announced their new loan limits—and it looks like it’s another increase in 2019!

Read More

December 13 2018

Student Loan Debt? How You Can Still Get A Mortgage.

While your student loan debt may look like the biggest obstacle getting in the way of homeownership, a lender may not see it as much of a threat. Here are what lenders are looking at and how your student loan debt affects your approval.

Read More

November 15 2018

The Impact of Rising Rates

If you’ve ever had a credit card or purchased a car, you should be familiar with interest rates. An interest rate is the percentage of the amount you are borrowing (known as the principle) charged by the lender as a fee for allowing you to use their money....

Read More

November 12 2018

What to Keep From Your Closing

After several stressful months of buying or selling your home, it may be tempting to put the transaction in the past and dispose of the evidence—which is often more than 100 pages. However, there are several important legal and financial documents...

Read More

November 05 2018

What is an Appraised Value?

Everyone wants to sell their house for more than they bought it for, but real estate is trickier than that. Markets change, and home values change right along with them. Fortunately, there are licensed professionals called appraisers who will come to your home,...

Read More

November 02 2018

Pros and Cons of Buying a Condo

Whether you are a first-time homebuyer or searching for home number ten, buying a condo instead of a house may be the perfect choice. Most condos are essentially a hybrid between an apartment and a single-family home. They are great for certain lifestyles but...

Read More

October 29 2018

What a Home Inspection Should Cover

Before making what may be the largest investment of your life, you’ll want to get a home inspection. Home inspectors are trained to examine the physical structures and systems of a house. If you’re going to spend hundreds of thousands of your...

Read More

October 26 2018

5 Reasons to Invest in Real Estate

Increasingly, Americans are choosing to invest in real estate instead of stocks, bonds, or mutual funds. From 2000 to 2016, real estate outperformed the stock market at a ratio of about 2-to-1. For three years in a row, Bankrate found more U.S. adults feel...

Read More

October 22 2018

What Does a Realtor Do?

Ever wonder about the difference between a real estate agent and a realtor? They’re the same, right? Not so. Working with a real estate agent can take a lot of time and stress out of the home buying process, but not all real estate agents are the same....

Read More


Mortgage Calculators

Crunch the Numbers With Our Helpful Mortgage Calculators

Payment Calculator

payment calculator


Affordability Calculator

affordability calculator


Refinance Calculator

refinance calculator


The Modern Digital Mortgage with a Personal Touch

Paperless. Effortless. Awesomeness TM

Simplify the home financing process with our Digital Mortgage. We'll be here to help navigate you through the entire process.

Get Pre-qualifiedWhat is a Digital Mortgage?