This topic was suggested to me from my friend and financial adviser Cameron Morgan of A&I Financial. Wow, has dating changed since the Stone Age when I was out there!
I recently had an inquiry from a magazine reporter about how many dates you should go on before asking about your sweetie’s credit score. I couldn’t help, since the last time I went on a date, everyone involved (me, my date, the guy at Popeye’s waiting on us) was totally broke so it wasn’t really an issue.
However, these are challenging times financially and money is the number one thing couples fight about, so you might as well get your spending habits and money attitudes out there early.
Some financial info you want to know before walking down the aisle:
- How much debt do you have? What kind (credit card, car loan, student debt)?
- How will we handle kid expenses (i.e. what to buy them vs. make them earn, allowance, large purchases)?
- What do you earn?
- Will we split expenses or treat all earnings and savings as one pool for the family?
- Do you value spending money on things or experiences more?
- What are your parents’ finances like? Your sweetie may not know the answer to this question in detail, but you can observe their spending habits for a clue as to your mate’s money background. If it seems really foreign to your attitude, it’s probably worth discussing.
- How do you see our lifestyle as a couple/family? Will be both work or will one stay home with kids? Do you want to live in town or the suburbs? Do you need a new car every two years or is that not important?
- What’s a good threshold for purchases that need to be cleared with each other? $250? $1,000?
This barely scratches the surface, but you get the idea.
Even if you are long married, these could be some good questions to revisit. Especially as you head toward retirement and may be looking at some lifestyle changes ahead.
Always, being open and willing to discuss difficult topics is important to a happy long term relationship. Money talk is no different! Except, maybe less enjoyable.
If these topics sound like they would be of interest to your employees, sales conference, or professional organization, contact me at 303-324-0014 or kristi@