Ask These Five Questions to Prepare for Monetary Relationship Problems
Money is one of the most versatile sources of relationship problems. If you are serious about your partner, ask these five questions to establish a baseline so that there are no surprises later.
As personal finance blog Money Ning points out, money causes problems in relationships in part because couples often don’t talk about their past, present, or future plans. This can lead to mis-prioritization or unexpected frustration. To avoid this, here are five key questions to ask your partner before moving on to serious questions:
- How much do you earn? This can be an awkward question, but you need to determine how much your family can afford.
- How much debt do you have? You don’t want to find out after the wedding that your partner has a $ 30,000 credit card debt.
- How much savings do you have? Rainy days take their toll on both partners. It would be nice to know how prepared you both are.
- Where do you want to live? Much of your financial life will depend on the location and the type of home you want to live in.
- When do you want to retire? Knowing when you plan to retire is key to creating a workable plan for how to get there.
Of course, these are not the only problems you will ever run into, but comparatively they cover a lot more important things. A couple may argue about whether a particular gadget or impulse purchase is important, but you can deal with that one argument. On the other hand, huge debts or mismatched retirement plans will create a cloud of stress that will hang over the relationship for years to come.
The Money Talk You and Your Partner Need | Ning’s money