![]() ![]() Keeping your current spending habits from your spouse can be equally damaging, especially if they don't match up well with your partner's own financial philosophy. Withholding spending and saving habits. Burying your financial past is one thing.Covering up financial obligations or income can lead to mistrust in the relationship. couples have experienced some form of financial infidelity hiding debts or accounts is the top culprit. Hiding debt or income. There are quite a few marriages where at least one spouse hides personal debts, delinquencies, or even income and assets.If you avoid updating these important documents, you run the risk of excluding your new spouse or stepchildren from asset inheritance if the worst were to happen. Not discussing estate planning. One of the most challenging (and uncomfortable) aspects of blended family finances is updating estate planning documentation-wills, powers of attorney, advanced care directives and trusts.Here are a few common issues that can pop up when merging household finances: Don't assume the handling of your household finances will operate the same way they did in your previous relationship-make sure your expectations match your partner's expectations. Perhaps your ex-spouse handled all things finance while you took a back seat. We recommend you read the privacy policies of those sites as they may be different from Thrivent's policy. Insurance, securities, investment advisory and trust and investment management accounts and services offered by Thrivent, the marketing name for Thrivent Financial for Lutherans, or its affiliates are not deposits or obligations of Thrivent Federal Credit Union, are not guaranteed by Thrivent Federal Credit Union or any bank, are not insured by the NCUA, FDIC or any other federal government agency, and involve investment risk, including possible loss of the principal amount invested.Īny data or personal information collected by websites other than Thrivent is not covered by Thrivent's privacy policy. Deposit and lending services are offered by Thrivent Credit Union, the marketing name for Thrivent Federal Credit Union, a member-owned not-for-profit financial cooperative that is federally insured by the National Credit Union Administration and doing business in accordance with the Federal Fair Lending Laws. You are now leaving the Thrivent website. ![]()
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