When should you merge finances with your partner?
It's a big question that many couples avoid until it's too late. Opening a joint account is a big step in a relationship, and there's a lot to consider before making the call.
November 6, 2017
3-minute read
After two-and-a-half years of dating, 29-year-old Mike Moore and his girlfriend decided to move in together. And with that exciting decision came the inevitable discussion of how the Toronto couple would handle their soon-to-be shared expenses.
Rather than risk a situation where one of them ends up paying for more than their share, the couple decided that the most logical course of action would be to open a joint account.
“Everything that’s a shared expense gets pulled out of there,” says Moore.
About the author
Lisa is a senior editor in the personal finance space. Her work has appeared in Reader’s Digest, Toronto Life, Canadian Living and TVO. As a child, she diligently hoarded the $50 bills that fell out of her Christmas cards. Adult Lisa is working hard to resurrect those stockpiling tendencies.
