As relationships change, so do financial dynamics, and vise versa. There’s a right time and place for most financial conversations. It’s important not to bring up debts or future financial dreams too soon (or too late), so let us help you find the right time.
Let's Talk About: Money Talks For Different Relationship Stages
When you’re starting a new relationship the last thing you want to do is scare your partner off. This can happen if you jump the gun on serious financial conversations. The other possibility is waiting too long and ruining an otherwise good relationship. There’s a sweet spot for most conversations, but remember that every couple is different.
The Debt Discussion
When to have it: When you start to get serious. This stage is different for every couple, but you will know when feelings go from fun to sincere.
Either you have debt hanging over you, or you’re curious about how much debt your partner has. Regardless of the scenario, before you can move forward, you have to talk about the past.
The Compatibility Chat
When to have it: When you start to get serious.
You may really get along with your partner, but that’s not always reflective of your financial compatibility. It’s not uncommon for people to have very different values and goals surrounding money, and it’s important to get it all on the table before things get ‘too serious.’
For more info on financial compatibility and what it means, check out Love & Money: Part 4 – What Is Financial Compatibility.
The Who Gets What Debate
When to have it: Before you move in together.
It’s never fun to have the ‘what-if’ conversation. No one likes talking about a potential breakup, but if you share assets or go in on big purchases together, it’s really smart to have a game plan. Before you buy all of your shared furniture and plan your living room decor, make sure you’re on the same page about who gets what.
The Financial Goals Heart-To-Heart
When to have it: Before you move in together.
If you’re planning on taking the next step in a relationship, then you need to be open about your future goals. You and your partner need to know about each other’s life dreams, including savings aspirations and plans to do expensive things.
