Consumer Corner: Consciously uncoupling your financial affairs

How to avoid a monetary wrecking ball during a break up

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Break-ups are rarely pleasant and aside from managing emotions, you could also be faced with managing your joint finances. The best place to start (once you are ready to do so) is with a plan on what needs to be done and who will do it. There will be lots of calls to be made to banks, insurance providers, pension advisors, and/or Revenue.

As relationships progress, there’s the joy of opening a joint bank account, buying a home, owning a dog, and having children. However, when the relationship doesn't work out, all these things will have financial consequences. How things are managed will depend on the break-up, be it a temporary separation or a more permanent arrangement like divorce.