Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Partner asked me how much money I have

375 replies

DPsavings · 25/01/2022 21:40

Should I be honest?

DP and I have been together nearly 18 months and tonight we talked about finances and how we are for credit/savings

I have no debt except a 30% mortgage on my house and about 80k in savings (which would pay off the mortgage should I wish to).
I have a decent defined benefit pension.

Don’t know why but I just feel a bit sketchy about sharing this. AIBU?

OP posts:
ChargingBuck · 27/01/2022 18:29

@DPsavings

We started talking about it in the context of maybe moving in together (him moving in with me) talked about maybe adding him to the mortgage
Don’t know why but I just feel a bit sketchy about sharing this. AIBU?

YANBU!!!!!!!!!!!!

If you are feeling sketchy about it my dear, that sketchy feeling is coming from somewhere. Listen to it, & please listen to all the wise PP I haven't even caught up with yet, because I am so horrified that you have to ask, that I've only stopped long enough to read your updates.

DPSavings, this sketchy feeling - is it somewhat akin to what a prize sow might feel about being prodded & sized up just before being hauled off to the abattoir? Because that's how it's made me feel, & I'm not even having to endure it in person ...

DO NOT ADD HIM TO YOUR MORTGAGE.
Until you have at least known him a lot longer & your sketchy feeling has disappeared.
If you get to that point - STILL DO NOT ADD HIM TO YOUR MORTGAGE until you have posted here, linking this original thread, & asked for a sense-check - &, independently of your b/f, had a long discussion with a highly qualified financial advisor.

Couples are meant to move in because they love each other & want to make each other's lives better. Not because one of them is eyeing up the other's assets (ooer missus) & appraising their bank balance.

Obviously, when arriving at the cohabitation discussions, there needs to be a strong element of financial disclosure. But as you haven't mentioned his coming clean about HIS assets - or lack of them - I'm getting the awful heeby-jeebies that this is nothing to do with disclosure, & everything to do with casing the joint.

Your man sounds like a cocklodger in waiting.
Cocklodgers are stealth burglars, OP.
They start off by robbing a woman's heart by making promises they will never keep.
They then start on her home, her money, her self-worth, & ultimately her ability to even see that she has shouldered the entire load for some smooth-talking bastard who wants an easy ride.
It can take YEARS for a cocklodged woman to find enough of her old, independent self to wake up to what he has done, & by then - whammo "but I'm on the mortgage, you'd need to buy me out, it will cost you, I'm not going easily, if you dare split up with me I will ruin you financially with lawyers" - all of these are real-life quotes OP.

Read those quotes again. How do you feel when you imagine them being said to/screamed at you? FFS do NOT hand over your autonomy like this.

Your b/f may be for real.
But the fact that your sketchy-radar had fired up means he quite possible is not. You don't know him well enough to make that assessment. Give it at least another 2 years.

Incidentally - has he volunteered any of his own financial info yet?
We are 12 pages in now, & I can't see that you have said so: I'm therefore pretty much assuming that he feels it's ok to size you up like this before (or even without) coming clean himself.
BE VERY VERY WARY.

Mojoj · 27/01/2022 18:30

Absolutely don't share your finances. It's none of his business what you have in savings.

ChargingBuck · 27/01/2022 18:31

Oh! & btw - Should I be honest?

Yes.
Reply "I don't know you well enough to share that info yet" and watch his response very carefully.

I bet he pushes back.

maybloss2 · 27/01/2022 18:33

I think at this stage it’s enough to say that you earn enough to not have an overdraft and are not in debt other than a mortgage. If you were moving in together or getting married I would want to know my partners attitude towards money quite clearly and what we were jointly sharing and this could be what he wants to know. However I don’t think one has to share how much you have in savings. One can ask do you have a financial plan? And I’d definitely not want to join finances with someone who had a lot of debt.
Make sure you are covered.

AcrossthePond55 · 27/01/2022 18:36

@DPsavings

We started talking about it in the context of maybe moving in together (him moving in with me) talked about maybe adding him to the mortgage
Do NOT add him to your mortgage. DO NOT!!!! You would be out of your ever-lovin' mind to do this. And if it balks when you 'walk back' that possibility, then that tells you all you need to know about him.

As of this moment it's none of his business how much money to have. As far as I'm concerned that subject is completely VERBOTEN until a couple is engaged with firm wedding plans (not 'here's a ring, but we aren't setting a date') or living together with contemplating a joint home purchase or having a child. In other words, not until their finances are going to be LEGALLY linked together.

DH and I didn't have that discussion until we were formally engaged. We had a general idea of what the other earned and that they were 'solvent and self supporting' but we didn't get into specifics regarding wages, debts, savings, etc until then.

Cherryberrybonbon · 27/01/2022 18:40

Do not tell him a single thing, make him think you live month to month! Even the great ones can be bad no matter how much they say they love you!

cherish123 · 27/01/2022 18:40

None of their business
Don't tell them

curmudgeonly007 · 27/01/2022 18:42

@Shehasadiamondinthesky

For christs sake NEVER put him on the mortgage. My friend made the huge mistake of doing that. He left her for another woman a while later and took half her house. She can't afford another one and is near retirement. Whether you are a man or a woman ALWAYS use your head never your heart when planning your future. These are your life savings.
Great advice, no one should ever get married
Starlightstarbright1 · 27/01/2022 18:43

Did he offer to tell you how much he had ?

withoutawordofalie · 27/01/2022 18:50

My mum used to tell me to always have my own money which she called my running away money. I would not tell him you have 80k in savings. He knows you own a house thats enough for him to know. Its not any of his business. My husband has no idea how much money I have in savings and I dont know how much he has. This is not because I dont trust him or him me its just thats the way we like it.
Don't get a joint account unless its for household bills only. Not savings.

Touchwood2654 · 27/01/2022 18:53

This reply has been withdrawn

This has been withdrawn at the poster's request.

LadyGoddiva · 27/01/2022 18:56

@withoutawordofalie

My mum used to tell me to always have my own money which she called my running away money. I would not tell him you have 80k in savings. He knows you own a house thats enough for him to know. Its not any of his business. My husband has no idea how much money I have in savings and I dont know how much he has. This is not because I dont trust him or him me its just thats the way we like it. Don't get a joint account unless its for household bills only. Not savings.
That is actually quite bizarre @withoutawordofalie

We are in the process of inheritance planning and investing and we have each had to disclose every penny we each have to our FA (who's worked for us for a few years) otherwise he can't advise us.

Why do you and your H have this secret?

Iamanicepersonreally · 27/01/2022 18:58

My DP knows how much I have in savings and I know how much he has. No way would I have added him to the mortgage though (It's paid off now anyway so not an issue)

Joesmummy1 · 27/01/2022 19:03

Ummm I’d say definitely don’t bother getting married if you’re keeping that stuff to yourself. He’s not the right person for you

DPsavings · 27/01/2022 19:05

Hi all,

Thought I’d share an update. So I took your advice and just explained to DP that I don’t have debt with the exception of the mortgage and I assumed that was all he needed to know I.e you’re not committing to someone in a bad debt situation (as I do kind of understand why you would want to know that).

I told him I feel it’s a bit too early to add him to the mortgage yet, but if he wanted to move in and split bills with not being on the mortgage (or paying towards it) then we can discuss that.

OP posts:
LaughingCat · 27/01/2022 19:05

My other half and I have been together for over a decade. We own a house together and share all bills equally. We still don’t know how much the other has - our finances are our own.

We’re doing a bit of a share of our assets at the moment as we’re looking to buy again so need to know how much we have together for budgeting. But other than that…nothing.

This is a massive red flag for me, if you’re not buying together. I would just say that I’m financially healthy and leave it at that.

DPsavings · 27/01/2022 19:05

Thank you for all of your advice Flowers

OP posts:
LoisLane66 · 27/01/2022 19:06

Looking on the dim side, if you TD him that the house is almost paid for and you have 80k in savings, I can envisage (if you lived together) a gradual wearing down of your resistance if he wanted a new car as his had 'stuff which kept going wrong with it' or suggesting an 85" TV instead of the one you have OR an expensive holiday which he'll pay for 'next time'.
We don't know how much money HE has so he may well be rolling in it and want to make sure you're not a gold-digger, however, there is much to be said for being cautious. Be vague. Don't mention savings. Say you 'get by' and have no debt bar the mortgage. and leave it there.
BTW. Make sure he pays half the internet, TV licence and Sky/Netflix or whatever you have and if you don't have S or N and he wants them, he pays, unless you want to watch too then 50/50. Food, toiletries, laundry liquid etc is 50/50 too.

LoisLane66 · 27/01/2022 19:08

*if you tell him.

MummBRaaarrrTheEverLeaking · 27/01/2022 19:11

@DPsavings

We started talking about it in the context of maybe moving in together (him moving in with me) talked about maybe adding him to the mortgage
My eyes bulged out my head reading that! Bloody hell, you might as well just hand him over a cheque for half your money and have done with it!

You must have saved bloody hard for that amount, don't chuck it down the drain for a shag! Pay off the mortgage if you must, he can live with you but keep his name off ALL the documents. If you marry then yes it's shared then but up until that point if anything goes wrong he can leave and your investment is safe.

MummBRaaarrrTheEverLeaking · 27/01/2022 19:12

Ah, was typing that while you updated OP. Good stuff.

Spaceshiphaslanded · 27/01/2022 19:13

I’d share once you lived together as then it makes more sense when bill splitting etc. I do find that having the same attitude to finances is really key to a successful relationship. So whatever you choose he needs to be on the same page too or it is a very rocky foundation x

THEDEACON · 27/01/2022 19:14

My HUSBAND doesn't know and wouldn't ask!

withoutawordofalie · 27/01/2022 19:15

LadyGodivva
We are both tenants in common so if one of us dies the other lives in the house until they die and then the house is split between our children We have a will leaving any money we have to each other. We paid deposits on houses for our grown up children years ago to avoid inheritance tax (Its over 7 years ago) They had their inheritance when they need it. They will inherit our house when we are gone. What is Bizarre about that.?

Fatgalslim · 27/01/2022 19:18

And what did he say OP?