16. The Big Reveal: Hidden Financial Risks and How to Protect Yourself

With our busy schedules and juggling so many responsibilities, we often make some significant personal decisions that can have financial consequences that we fail to carefully consider. We can protect ourselves from unanticipated twists and turns in situations with some forethought and planning. In the tapestry of life we regularly make decisions as to who we live with whether it is a significant other or a roommate, whether we commingle our assets with our spouses, and how we establish our credit, whether jointly or independently. These decisions are wrapped up in personal relationships and the hidden risks, though not patently obvious, should be considered. As always, an honest, open, and practical approach is the best strategy to be fulfilled personally and to protect your individual financial status. Sources: United States Census Bureau, 2019: https://bahnsen.co/2VWYvqj Marriage and Cohabitation in the U.S.: https://bahnsen.co/2ZRLorh Key findings on marriage and cohabitation in the U.S.: https://bahnsen.co/2Z85dLS National Health Statistics Reports: First Premarital Cohabitation in the US: https://bahnsen.co/2VYfNmZ Cohabitation Property Rights for Unmarried Couples: https://bahnsen.co/3gJNLDH Lewitt Hackman: https://bahnsen.co/38KC1Os Money Crashers: https://bahnsen.co/3fcW6z5 Premarital Cohabitation and Dividing Assets During your divorce: https://bahnsen.co/2VYf1q5 Common Law Marriage by State: https://bahnsen.co/2AEi6Uz 5 things all roommates need to know about renter’s insurance: https://bahnsen.co/2ZRMgw3 Commingled Property: What it is & How it will impact your divorce: https://bahnsen.co/31YnCwO Get Married, But Keep Your Credit Separate: https://bahnsen.co/3e5VnhP Examining the Relationship Between Financial Issues and Divorce: https://bahnsen.co/3ebuk4E Links mentioned in this episode: TheBahnsenGroup.com TheFiscalFeminist.com