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LATEST NEWS & EVENTS Financial understanding between couples 'is a must'  Couples must have a broad understanding of their personal finances, judging by one expert's comments. Andrew Hagger, spokesperson for Moneynet.co.uk, suggested that issues such as savings, outgoings and debt should be at the forefront of many people's minds before they approach their retirement years. "The important thing is to understand where you stand as a couple with your finances," he said. Mr Hagger went on to add that it does not matter whether people open two separate accounts or a joint arrangement, as the most significant thing to consider is the overall financial position. He observed that if you are keen to plan for retirement, "you need to understand exactly what savings you have". And according to Prudential, many couples in the UK could be risking poverty in their old age by failing to talk to each other about financial planning. In fact, it found that 32 per cent of those over 40 but not yet retired claim to not understand the intricacies of their partner's savings. Posted by Isobel Whitely 
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