I have been there, twice, allowing a person I am with help dictate my finances. And yes, I have been through bankruptcy in my early 20’s and now I am going through it again in my 30’s. It sucks! It takes a lot of money and time to file bankruptcy, but if you have bad credit then you really can’t do anything! You can’t get a phone, you can’t move, you can’t have any utilities in your name without huge deposits. It sucks! I can’t stress how bad it stinks to have an ex ruin your credit, as if all the other shitty things they did wasn’t enough.
I am here to forewarn you and to let you know that your finances should stay yours, no matter how long you have been with your partner. Something could always happen, I’m not being negative, just realistic. I have been there, and although I had a feeling my relationships were doomed because of other actions I still stepped into a financial nightmare with them. I still let these huge bills add up in MY name. I’m not sure what my exes are up to, but I do know that they don’t have all the plunges on their credit score like I do.
I get that you might be with a partner you trust and you share expenses with, well that is fine, but don’t get joint accounts. Help each other out and have the mentality of what’s mine is yours and what’s yours in mine, but keep some things separate. Or at least, have both names on whatever it is you get: a credit card, a house, an apartment, a bank account ETC. Also, both of you need to have a plan as to what should be done IF something happens to the two of you. It’s smart and you will be glad you did.
With all this marriage stuff coming up we want to make sure that we are covered in all aspects, don’t be afraid to suggest prenuptial agreement with your partner, it will protect the both of you. Because with marriage comes divorce!
I’m not being a Debby Downer, I have been there…twice and I am kicking myself in the ass for it today!