A new CIBC survey shows couples are avoiding the conversation about whether it will be for richer or poorer when they head down the aisle.
The majority of couples on verge of becoming common law or married reported that they had not discussed their financial future in detail.
A misstep that Author Jamie Golombek says can be costly.
“Couples who argue over finances several times a week are more than thirty per cent likely to divorce than those who only did so less than once a month.”
Golombek says couples have many options as they plan, including the increasingly common, expenses only approach.
“They would have a joint account and they would each fund that account.”
He says this would be used for common expenses and then each person would also have their own separate account to draw from.
Golombek’s advice, just like you’d hire a wedding planner, get one for your finances so that it’s smooth sailing down the line.