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Honey, I think we need to talk
Who it’s for: Modern couples.
More specifically: People who aren’t your parents.
Does it have steps?: Yes, seven of them.
Why we like it: It’s written by a Canadian for Canadians, so it references products readers will actually encounter, including TFSAs, RESPs, RRSPs and more.
What’s missing: A few good trouble shooting tips unique to blended families.
Surprising fact: During one Harvard Business School study students were asked, “Have you set clear, written goals for your future and made plans to accomplish them?” At the time, only 3% of participants had clear, written goals. Ten years later, those who bothered to scribble them down earned 10 times as much as the other groups.
Action item: If you haven’t already, set clear ground rules: Who pays the bills? Who handles investments and updates the wills? How will you manage debt?
Key takeaway: “It really doesn’t matter whether you and your partner join your accounts or not. As long as you plan your finances together like a team, you’ll be fine.”
To read an extended excerpt of this book download the MoneySense app.