Post Content

1111

A 2017 report conducted by investing app Acorns found that 68% of the 3,010 respondents said they’d rather tell their partner their weight than the amount of money in their savings account. But when talking about finances, it’s important to have regular talks about money, lifestyles, savings habits, and retirement goals with your significant other to avoid problems down the road.

If starting the conversation seems ‘too soon’, you can start small. Forbes offers a loose financial talks timeline of when to start delving into your financial compatibility in a relationship. A quick guideline is that the level of seriousness in the relationship equals the level of depth of your money talks.

Most experts suggest partners discuss:

  • How much money each makes
  • How much debt each owes and what the other’s credit score is
  • Individual spending and savings habits
  • Whether you want joint or separate bank accounts
  • Future goals such as homeownership, travel opportunities, and when you’d like to retire

Talking about finances openly and frequently can help make achieving long-term goals possible. This week is America Saves week, and we encourage consumers to look at the America Saves blog for tools to help you save smarter.

For more information and tips that can help you save money, visit the Division of Banks Consumer Money Matters website. From tips for choosing a bank or credit union that is right for you to preparing for home ownership, the DOB has information and resources to help you plan your financial future.

If you have additional questions, contact the Office of Consumer Affairs and Business Regulation by calling our Consumer Hotline at (617) 973-8787, or toll-free in MA at (888) 283-3757, Monday through Friday, from 9 am-4:30 pm. Follow the Office on Facebook and Twitter, @Mass_Consumer. The Baker-Polito Administration’s Office of Consumer Affairs and Business Regulation along with its five agencies work together to achieve two goals: to protect and empower consumers through advocacy and education, and to ensure a fair playing field for Massachusetts businesses. The Office also oversees the state’s vehicular and customized wheelchair Lemon Laws and Arbitration Programs, Data Breach reporting, Home Improvement Contractor Programs and the MA Do Not Call Registry.

Written By:

Tags: , , , , , , , , , , , , , , ,

Recent Posts

How To Spot A Government-Related Scam posted on Aug 21

How To Spot A Government-Related Scam

Your phone rings with an unrecognized number, the voice on the other end says “Congratulations, you qualify to receive a free government grant to pay for home repairs…!” While this sounds exciting, it may be a scam. Phone scammers are constantly looking for new and   …Continue Reading How To Spot A Government-Related Scam

Prevent Window-Related Injuries in Your Home! posted on Aug 12

Prevent Window-Related Injuries in Your Home!

With summer in full swing, the windows in your home are probably open from time to time. To a curious young child an open window can equal danger. Every year eight children under the age of 5 die from falling out a window, and over   …Continue Reading Prevent Window-Related Injuries in Your Home!

Scammers Phishing for Apple Users posted on Aug 6

Scammers Phishing for Apple Users

Last year, Apple sold over 2 billion iPhones worldwide giving scammers a huge group to target. Phishing emails may be used to trick Apple users into disclosing personal information like your social security number, credit card information, and home address. Apple will not  ask for   …Continue Reading Scammers Phishing for Apple Users