Financial Do’s and Don’ts

Here is some advice for widows that are thinking about getting into a new relationship.  Couples need to address money issues early if they have any hope of sustaining a happy relationship.

Hold on to your independence:  No matter how long you have been together keep at least one credit card in your name only.

Watch your property:  You have every right to retain 100 percent ownership of anything acquired before your new marriage.

Know his credit status:  Even if your man seems to have it all together, don’t assume he has no debts. 

Talk about your financial goals:  Do you have the same values with money?  Does he miss payments or bounce cheques?  When do you plan to retire and who is paying what?  Do either of you plan to help out the kids or aging parents?

Don’t wait to find out that you’re not a financial match.  It’s a huge financial loss if this marriage doesn’t work out and he walks away with some of your assets.

2 Responses

  1. Diane
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    I think that everyone grieves differently and has different opinions on dating. I have been widowed for over 5 years and I think that (for me) dating is not an option. I am 66 years old and fortunately own my home and have savings/investments…not much…but I do not want a lot of material things. I feel lucky. I do not feel like I need a partner in this stage of my life. That said, I feel sorry for widows who feel like they “have to” have a new partner. That might be fine (I have a friend who found a wonderful man on an online dating service after her husband passed away.) I just worry that some widow should just be more careful and thoughtful about their choices. Just a thought.

  2. Mary Francis
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    Thank you Diane for sharing your thoughts. I agree that as widows we need to be careful and thoughtful about our choices. It is probably a good idea to talk to a lawyer about a written agreement signed by both parties before you get married or move in together. As you stated there are wonderful men out there for those that do want to date – just go into it with eyes open. Be smart – always talk to a lawyer before making any commitments. Take care, Mary Francis

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