How to cope with changes to your finances as a couple.
If you lose your job, want to start your own business or have your hours reduced it can put a strain on your finances and your relationship.
In the current economic climate, it’s not uncommon for one – or even both partners in a couple to lose their job, to have their hours reduced or to decide to go it alone. Change on this scale means that the financial habits you established when you got together may not work anymore. You may have different expectations about what you want from your money and have less (or more) cash to live on.
If you and your partner fall out what could it mean for joint accounts and what should the bank do?
The free complaints service, the Financial Ombudsman Service is highlighting problems with joint accounts and policies.
Reviewed 26th April 2011.
In the last few weeks I’ve had a number of emails from women whose relationship has split up and who want to know what this could mean for joint debts, accounts and insurance. It’s something that the Financial Ombudsman Service (the free consumer complaints service) is also highlighting in its latest report. It says that in some cases banks and insurers aren’t treating their customers fairly.
Joint debts – a guide to the basics. What are your rights if you have loans or debts with your partner?
Many couples take out joint mortgages or loans, but do you know your rights if it all goes wrong?
Updated 26th April 2011.
We talk about ‘joint debts’ but the fact is that responsibility for a joint loan isn't split 50:50 between you. Instead, each person signing a joint loan or mortgage agreement is responsible for the whole lot if things go wrong and your partner doesn't pay his or her share. If you and your partner or husband were to split up, it’s worth knowing what you can do to try and limit the damage to your finances and how you can protect yourself.
