4 Critical Financial Questions You Need To Ask Your Partner
People always say
there are three things you never talk about: religion, politics, and money.
We're here to tell you that when you're in a serious relationship or married,
it's important to talk about your financial situation.
It is a huge part of
life and can greatly impact the future you have with your partner. Here are
four critical financial questions to ask your significant other:
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1. How much
debt do you have?
much debt your partner has is important for future planning, whether it's
buying a house, car, or student loans. Discussing debt openly and in a
judgement free zone allows for each party to be more vulnerable regarding their
finances. Once you've figured out how much debt you're in, create a financial plan
or budget to pay it off.
2. What is your
partner's credit score is the best way to know how they manage their money.
This is crucial when planning big purchases, especially if both of you plan on
being on the loan. Once you know each other's credit score then you can work
together on ways to improve it!
3. Have you
started saving for retirement?
It's always good to start looking into the future and planning for what's to
come. This also let's you know your partner's financial goals.
4. Are you a
saver or a spender?
A big topic
of disagreement that can cause anxiety and arguments in relationships is if one
partner is a spender while the other is a saver. If this is the case, discuss
ways you can do both. Download budgeting apps or create your own budget to
monitor what's going in and out of your accounts. Also, designate someone to
monitor the accounts so you avoid over spending.
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