Eight things you need to know about money and love

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Couples may share everything but that doesn't necessarily extend to their finances. Increasingly, partners live together, share the costs but keep separate bank accounts for their own spending.

There's no point going to the Ritz on date one and then taking them to a fast food chain on date two.“I think it's 50:50, divided equally," he says."But I think personally, if the date's going well and you think there's going to be date two or three, it's nicer just for one person to pay, it's their treat and then on the next date the other person pays.

Suter feels it helps to be upfront. “It's much better to talk about these things early on, before you commit to things for example rent that you ultimately can't afford,” she says. “But also before you get into bigger financial issues and end up having to talk about all of it all at once.”Although it's very normal now for couples to live together before or without getting married, it's important to know about the different financial protections.

Suter adds: “People talk about the financial benefits of getting married but people shouldn't run into that just for the financial benefits before they feel ready because going through divorce is a costly, long process.”Although some people might enjoy treating their partners, it's still far more expensive to be single.

“That could well impact how much you end up paying for the account, the interest rate on it for example. Or, if one of your credit ratings is very bad then you could get declined.”“For the actual application for divorce it's £593. It’s a lot of money.

 

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