Money is one of the most universal sources of relationship problems. If you're getting serious with your partner, ask these five questions to establish a baseline so there are no surprises later.
Couple with piggy bank image via Shutterstock
As personal finance blog Money Ning points out, part of the reason money causes problems in relationships is because couples often don't talk about their past, present, or plans for the future. This can lead to misaligned priorities or unexpected frustration. To avoid this, here are five key questions to ask your partner before getting too serious:
- How much do you make? This can be an awkward question, but it's necessary to determine how much your household can afford.
- How much debt do you have? You don't want to find out after the wedding that your partner has $30,000 in credit card debt.
- How much do you have in savings? The rainy days affect both partners. It's a good idea to know how prepared you both are.
- Where do you want to live? Much of your financial life is going to be affected by the location and type of home you want to live in.
- When do you want to retire? Knowing when you plan to retire is key to setting up a feasible plan to get there.
Of course, these aren't the only problems you'll ever face, but comparatively they cover a lot more of the important stuff. A couple may bicker about whether a particular gadget or impulse buy is important, but you can deal with that in a single argument. Massive debt, or misaligned retirement plans, on the other hand, will cause a cloud of stress to hang over the relationship for years.
The 'Money Talk' You And Your Partner Need To Have [Money Ning]