Martin Lewis has warned couples about a 'significant risk' if only one partner manages the household finances. Speaking on his BBC podcast, the consumer expert highlighted what he calls the 'three Ds' — death, divorce and dementia — which could leave the other partner in a difficult position.
Lewis stressed the importance of both partners understanding key financial details, such as providers and decision-making rationale. 'If one of the three Ds were to hit the person in charge of the finances, it can leave the other partner in the lurch terribly,' he said.
Relationship experts at eharmony have backed the warning, noting that this issue is particularly acute for older couples. Dr Lalitaa Suglani, the group's relationship expert, said: 'If the partner who manages the finances becomes unwell or passes away, the other can be left not only dealing with emotional distress but also suddenly having to navigate complex financial systems.'
She added that a lack of financial understanding could lead to missed entitlements and increased vulnerability to scams. The warning applies across all age groups, with unforeseen illness or death possible at any time.
Research from eharmony found that only 38 per cent of 40 to 69-year-olds would discuss retirement plans with a romantic partner early in a serious relationship. Dr Suglani advised couples to be open about finances from the start to avoid misunderstandings later.
