Another question from our survey was how to blend finances after both parties have been married before and thus set in their financial ways. Well there are 2 points to remember here. 1. The past does not equal the future so if your previous partner left you with an STD (sexually transmitted debt) that doesn’t mean this partner will. Speaking from experience, having a binding financial agreement is a great place to start. Then, once both parties record their individual spending over a period of time, including the joint household bills you can work out whether a. you have a joint account for joint expenses & keep the rest of your money to yourself or b. due to unpaid work around the house / personal circumstances / non monetary contributions, you come to an agreement about who pays what (eg one wage to living, one wage to saving). Of course there are many more options but make sure you have something in writing at all times.
And the 2nd point is that “if you want different results you’ll need to do things differently”. This means looking at where you went wrong last time (yes, all financially independent people take responsibility for where they are ;-), and work out what you can do to improve & when you will discuss this (eg Money Mondays or Wealth Wednesdays). You can always buy a copy of my book too at www.yourmoneymistress.com as well as using the forms on my With compliments page 😉 May you have a beautiful blended relationship!! xx