Today, it’s the largest and longest serving nonprofit financial counseling organization, and its staff has plenty of actionable advice to get one’s personal finances in order.
We asked the NFCC’s experts to share some tips for dating and married couples who want to merge their finances and create a bright and stable future.
Since 1951, the National Foundation for Credit Counseling has helped people tackle and overcome such money issues.
The NFCC advises individuals in one-on-one counseling sessions and makes financial education accessible to all.
“It’s also important to maintain respect and understanding for your partner’s lifestyle.” Everyone has a different attitude about money.
Speaking of bank accounts, many committed partners decide to create joint bank accounts so they can share responsibility and control over their financial futures.“Excessive debt puts couples at a disadvantage for buying power and financial stability.So, when you both are prepared to have ‘the money talk,’ share everything.” Clear communication is important in all aspects of a relationship, but it’s particularly crucial with regards to money.If one partner isn’t on the same page, it can lead to irresponsible spending decisions and high levels of debt.Unfortunately, some couples don’t communicate properly when it comes to money, and that can exacerbate financial issues.
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Some individuals may worry that their debt, income, or spending habits will scare potential love interests away, so they sweep such conversations under the rug.