Financial matters can be complicated to manage when you’re a couple. If you don’t come together to make decisions about how to handle your combined affairs, conflict can arise. With inflation and interest rates increasing, it’s even more important to make swift and positive choices.
And if you’re like many consumers who have been borrowing to meet the shortfall, you also need to deal with higher and more expensive debt. In July 2022, the Federal Reserve hiked interest rates another three-quarters of a percentage point, causing APRs to climb further.
Now is the time to assess your finances with your partner. When you do, you can take steps to weather this storm together. You may even grow closer in the process.
