from the first date to happily married, ask these questions at relationship milestone.
a bit of friction in a relationship can keep the spark alive, but. When it comes to money, it’s best if things run smoothly sure, talking about finances isn’t exactly romantic, but neither is fighting about it.
so if you want tonmake sure you and your significant other. Are on some page about money be sure to ask these important question at significant stages of your relationship.
what are your values
The first few dates are about feeling each other out. And seeing it there’s a correction usually it’s best to tread. Lightly when bringing up more serious topics, such as marriage and kids. The same goes for finances.
at this point in your prospective relationship, you don’t have to ask about money point-blank, instead, observe their behavior.
“do they do things that are irrational or impulsive? ” asked Reshwll Smith, a certified financial planner and the founder of AMES financial solutions in Orlando Florida, “I also think peoples attitude about money comes from their family, talking about family parents and how you were raised- you can get index there”
erin cousin, a CEP and the director of financial planing at E P wealth advisor a in Torrance, California, suggested playing the lottery game as an icebreaker “ask them, ” if you worn the lottery, what would you do? I think that tells you a lot about a pperson,” she said for instance, she said for instance, would they give some of the money to charity? Invest in property? Blow it all on cars and parties? The answer could tell you enough to know the person.
how do our financial lives compare
Relayionship move at their own pace, you might be exchanging “i love you’s” after three mouth or waiting to make things exclusive several years into dating. Whatever “serious” mean to you, be sure to have a serious conversation about your current financial situation too.
“Talking about financial success and failures are important” said voison. She recommended sharing with each other your proudest accomplishments as well as your money mistakes. This can serve as good jumping off point to dig deeper into each other’s financial pictures.
“we definitely need to bring up the big c-word, credit. Said smith. She pointed out that if you eventually want to get a house or apartment together. (More on that below) your credit scores will inevitably come yo light. It’s best to put that information on the table early.
infact, the more transparent you are with each other about your savings, debt and overall financial health, the better you will understand that what your future as a couple might look like and what part you’ll each play in it.
what’s mine, yours and ours
In stage is often the ultimate test of a relationship. Adorable quirks can transform. Into irritating habits. Alone time become harder to come by. And suddenly you share everything.
Navigating this relationship milestone requires a ton of compromisw. What will you sell, toss or donate to make room for this new pwrson in your life? If you both are living in seperate places probably have two washers, two dryers, two tvs these are things you can sell to raise money for a wedding or to help pay down debt,” said smith.
if you are comfortable with it open a joint checking or savings account can help you get used to managing money as a couble. It also prompts yo to have the conversation about how you’re going to allocate your money. “Are we agreeing to save a certain amount and spend the rest as we wish? ” or should we be putting a little bit extra into the joint account and if things go wrong. We slit the savings, 50/50?
and there’s one more sscenario you shouldn’t neglect to discuss: what happened to your share belonging if you breakup? This issue can feel imaginary ak