A 2024 survey commissioned by BMO found that 35% of partnered Canadians believe their significant other spends too much money, while 36% admit they are not always truthful to their partner about their finances. Finances are often a point of contention in relationships, which can include shared credit card debt, everyday spending and discretionary expenses. That same BMO survey revealed people are most concerned about their partner’s mortgage debt, credit card balances and credit score.
Paying your credit card debt on time is an important factor in maintaining your financial health and avoiding a quick ballooning of balance on your account. Credit cards offer a variety of ways to pay, and different balances will determine the amount of interest you are charged.
