• Keep assets separate early on in a relationship.
• Don’t combine checking accounts.
• Own as little property as possible jointly.
• Contribute equally to a shared checking account to pay for common expenses.
• If you buy a house, decide between “joint ownership with rights of survivorship” or “tenants in common.” In joint ownership,  one person will inherit the property upon the others death. In “tenants in common” you each own 50% of the home and you can specify who you pass ownership to upon death.
• Be careful becoming too dependent upon a partner before you are married. If your partner encourages you to quit your job so that they can take care of you, get it in writing in a legally enforced document.

It may be useful to consult a lawyer for certain situations. Unmarried couples living together may not have the same legal protections that a married couple may have, and its important to make wise financial decisions with an eye towards the future.

Personal Finance Issues for Unmarried Couples Living Together

For those of you who think other forces may be at work, here is a fun site to try http://www.lovetest.com/

You can test for relationship compatibility by names or run a numerology love test.

Have some fun, then come back here later and we’ll get to some real work.

Its hard for couples to talk money. It takes discipline and patience. Money issues are estimated to play a role in 90% of divorces. Here are a few helpful tips for couples during their financial journey together.

• Talk about money when nothing else is going on. Don’t wait for a big blowup during a financial crisis.
• Tell your partner how you feel. Openness can diffuse many tense situations.
• Consider bringing in a 3rd party for difficult topics or if you are having trouble communicating.

Couples and Money: How to Talk the Talk

Openness is often the key to a healthy financial relationship. There will always be some disagreements over spending decisions, but it is absolutely crucial that each partner knows exactly where they stand with the family finances. I recommend a software program like Microsoft Money that makes it easy to keep track of every account and every financial transaction. That way, each partner can get an up to the minute financial picture at any time. It is also important that both partners sit down once a month and talk about finances. Review where you are financially and what your goals are.

Finally, it is important to set down ground rules. A budget is a great way of doing this. Each partner should get a personal budget each month that they are free to use for whatever they want. If there is something that is more expensive than the budget allows, then they need to save up for it. Another way to handle this is through extra income. If you can’t afford your new toy, maybe its time to sell some old toys on ebay in order to raise some money. In my house, any income earned by a partner outside of their “normal” income can be used for personal spending.

The problem of financial deception can be solved with openness, ground rules, and a little creativity. As long as a couple is open about their finances and willing to work together, these problems can be avoided.

Your Cheating Wallet Will Tell On You

Like any relationship, money requires lots of attention. It you take care of it, it will grow. If you abuse it, you will lose it. It is important to take the proper steps to cultivate your finances, you will have a long and healthy relationship. Here are some tips from Erin Burt at Kiplinger.

1. Take advantage of your money’s potential - Don’t let it sit in a low interest savings account. Put your money in a high-yield savings account and watch it grow.
2. Take care of the little things - Don’t overpay taxes, pay off credit cards each month, take advantage of credit card rewards, shop around to lower your bills.
3. Plan for the future - If your employer has a 401k, use it. If not, open a Roth IRA. Start investing as early in life as possible.

Love Your Money. It Will Love You Back.  

People between the ages of 25 and 34 are expected to spend an average of $160 for Valentine’s day this year. It’s a huge boost for retailers, but it can also bust your budget. Dinner, flowers, chocolates and jewelry all add up to big dollars. In fact, the cost of courtship can easily approach $40,000 by the time you get married. Some people even avoid relationships altogether because of the cost.

Its hard to put a dollar value on love. But with a little creativity, you may be able to buy high romance at a low cost. Cooking a fantastic meal at home for you loved one can be just as romantic as going out, and it can save you money. Do a little research and find a romantic dish that you can cook. And don’t forget to pour on the extras…..candles, music…etc.  You could even pick up some fresh flowers at your local grocery and make your own arrangement for far less money.

Its easy to spend when your in love, but if you can keep your head, you can still have romance without busting your budget.

Love can hurt — your bank account - BusinessWeek.com- msnbc.com

Etrade offers more than just an online brokerage account. They also offer a fantastic 4.4% APY savings account with no minimum balance. Its an online savings account, so you electronically transfer money in and out of the account. However, transfers are free (maximum 6 per month) and it only takes a dollar to open the account up.

I’ve had a Etrade savings account for over a year and I have found it to be a great place to put emergency savings funds. You receive interest payments monthly and it is FDIC insured so it is a no-risk account. Plus, it offers greater flexibility than a Certificate of Deposit. Tranfers to another bank take about a day, but transfers to other Etrade accounts are instant.

E*Trade Financial Savings 4.40% APY | The Piggy Banker™

Sharon Epperson, author of “The Big Payoff: 8 Steps Couples Can Take To Make The Most Of Their Money — And Live Richly Ever After,” says that couples need to learn how to work together to handle their finances. She offers a few tips to help couples get on the same page.

1. Check your finances together at least once a month.
2. Run a credit report and know your credit score.
3. Make a financial plan and talk about it every few months.
4. Consider working with a financial advisor.

The underlying theme here is communication. But its also important to get on the same page financially and come up with some common goals. That may require some sacrifices from both parties, but diverging financial goals can cause problems. Work out a short term and a long term financial plan that you both can agree on.

Couples and money: How to work it out - Today Technology & Money - MSNBC.com

Running your home finances can be very similar to running a business. To increase your profit, you can either cut your spending or increase your revenue. For most people, the easiest and most immediate solution is to cut spending. That’s why I write regularly about ideas for cutting spending. You don’t have to try every idea at once, but if you can add a few here and there, you should see a little bit more money in the bank at the end of the month.

1. Borrow a movie from the library instead of renting or going out.
2. Drink coffee and alcohol at home.
3. Dress in layers and turn your thermostat down.
4. Cook at home and bring your lunch to work.
5. Take bubble baths

Eight Ways to Cut Back Without Sacraficing

Are you interested in buying stocks? Before you do, you need to get the rest of your house in order. Historically, the S&P 500 has returned about 11.5% a year including dividends. But if you are carrying credit card debt, you are probably paying more than that rate in interest. Furthermore, if you are not contributing to your 401k you may be passing on free money from your employers match. Buying stocks directly also carry expenses like transaction fees and taxes. If you sell your stocks within a year, you’ll have to count any earnings towards taxable income. Any stocks sold after 1 year are subject to a 15% capital gains tax. Make sure you max out any tax advantaged investment accounts available to you first.

Don’t invest in stocks before completing the following tasks.

• Contribute to your 401k - Many employers will give you 50% on the dollar up to a certain percentage. Its free money and you would be crazy not to take it.
• Pay off Credit Cards - Credit card interest can be very expensive. Pay off all of your credit cards before you even begin to consider stocks.
• Contribute to a Roth IRA - This is a retirement account with great tax advantages. After you max out your 401k matching percentage, the Roth should be your next investment target. Your principle and interest will be available to you tax-free when you retire.
• Build an Emergency Savings Account - Build up at least 3 months of emergency savings before you start buying stocks.
• Pay off your Car Loans - Car loans can also be expensive. Unless you have a great rate, pay off this debt before you divert any money to stocks.

Stocks: What return to expect in 2007