A short clip on what to do when you discover your partner has debt after the relationship began. Agnes says debt taken on before the relationship is the original borrower's responsibility, though helping a partner out is a generous gesture, and suggests splitting income between a joint account and prior obligations.
Takeaways
- Helping a partner pay down debt can build goodwill, but it is a choice rather than an obligation.
- Debts, money, businesses and houses from before the relationship stay with the person who had them.
- If you keep a joint account, make sure each person still sets aside money for their own prior obligations.
More episodes: Love, Death & Taxes · all episodes