Couples 'need to be particularly careful with their finances'

Mozo

Thursday 25 August 2011

Couples may need even more discipline than single people when it comes to putting money into savings accounts, according to one expert.

Couples 'may struggle more to balance their bank accounts'

Speaking to the Herald Sun, adviser with Castellan Financial Consulting Bruce Brammall asserted that when in a relationship there are two sets of bad financial habits to deal with.

He noted that up to 30 per cent of all couples split up because of money problems and disagreements.

"Couples have twice the bad spending habits to keep under control, will eat out more and might do something silly such as get married, with the average wedding blowing out to a whopping $50,000," he stated.

Those who are considering getting married or having children may find opening savings accounts and putting money aside for these events is crucial as they are both expensive undertakings.

Aussies who have kids and are planning to compare savings accounts to put away cash for their youngsters were recently advised by Abacus spokesperson Mark Degotardi to look at details of accounts and not just to compare headline interest rates, reported the Herald Sun.

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