Love & Money: Banking advice for couples
YouGov: 73% of couples with t bank s rate their partnership as “very happy” or higher
(InvestigateTV) — According to Bankrate, only 43% of American couples rely solely on t bank s, with younger generations increasingly opting to keep some finances separate.
Cherry Dale, the vice president of financial education at Virginia Credit Union, said early communication is crucial for couples to navigate their finances together—yet, she said, it’s surprising how often this conversation is overlooked.
“Often times people don’t even discuss their credit scores until they apply for a mortgage together,” she shared. “Let me tell you it will come out in the mortgage process whether or not you have good credit. So, you want to be open and honest and avoid a fight later.”
Dale stressed the importance of discussing credit scores and debt early on, as they can significantly impact a couple’s ability to borrow for major purchases like a home, car, or other big-ticket items.
“You need to be on the same page, and both people, if you’re going t, need to have access to those s, up front, and be proactive about it,” Dale urged. “Don’t just let somebody control all of the finances: both of you be tuned in.”
Dale said both partners should stay informed about who is paying what and when, while making regular financial discussions a priority.
She recommended scheduling a monthly “money date night” to keep finances on track and ensure both partners stay aligned.
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