Beware! Money��Honey Mixing - Brief Article

He makes your heart beat fast and he's talking about a future together, so this must be love, right? Before you commingle, set fiscal boundaries. Every year many women lose their hard-earned assets through common-law living arrangements or other legal claims from former lovers, says certified public accountant Moritza Day, president of the Houston, Texas, accounting recruiting firm Day West & Associates. So if he's Mr. Right or not, listen to your head--not your heart--in managing your money. Day says to be aware of five financial pitfalls:

1. Remember that looks can deceive. A big house and car may mean big debts? Watch out for his liabilities--child-support payments, credit-card debt, loans.

2. Cuddle as much as you want, but don't cohabit. Dating may cost you a lot less. If your partner is married and the divorce isn't final, once you live together, his ex may claim some of your assets as part of her settlement.

3. Don't commingle assets! Keep your resources separate until you've said "I do." Don't share bank accounts and credit cards until you marry.

4. Avoid making loans to your sweetie. You can't be your lover's banker. Remember, love is never having to say "Show me the money?"

5. Be wary of his "great investment deals," unless you first check it out with an unbiased financial adviser. For your own financial well-being, keep your honey's hands off your money.

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