Re: GF problems
09-21-2012 07:05 AM
I really feel that these kinds of issues wouldn't be as prevalent if we had some kind of personal finance classes in high school. I had a similar situation and it took a lot of pain to get myself on track.
Joint accounts are an endless source of pain, because they put you at the mercy of your significant other. No matter how much you love someone else, you shouldn't put all your finances at their disposal. You may feel 100% certain that you can trust this person with all your soul, but you have to protect yourself no matter what. You need to keep separate bank accounts and a joint account only used for bills. Each of you can contribute your portion of the bills into the joint account and you can make your payments from that account.
Keep separate credit cards. If your GF has access to your credit card accounts, she can run up bills and no matter what they are you will be responsible for them or your credit will be damaged.
Get some financial literacy classes for your GF. If your local credit union offers classes on personal finance, enroll her in them. Have her watch The Suze Orman Show on CNBC and get her a copy of her book "The Money Book for the Young, Fabulous, and Broke." Suze Orman can work wonders in people who are financially literate and are afraid to learn what they need to know.
It may sound harsh to take all this advice, but it really shows that you love her that you want to help her gain the real world skills she needs as an adult and that you want to build a happier, healthier relationship.
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