THE WAY TO DISCUSS MONEY WITH YOUR PARTNER

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Finance according to a recent survey has been proven to be the leading cause of stress in a relationship this makes the Money Talk a serious one. So if you are married or in a serious relationship then avoiding the Money Talk is the wrong move because it can lead to a lot of friction in your relationship or worst it can end your relationship.

So if you are among those couple who is modern and contemporary and you haven’t had the money talk then it time you take charge and do what is best for your relationship which is having the Money Talk. Here are the things you should consider before you merge your finances with your partners;

Couple counting money

Couple counting money

Talk About The Past

Your partner had a life before you met him, so talking about any past financial trouble or debt helps you to get perspective into the kind of person he is financially.

Discuss Your Earning Expectations

There are so many questions to ask when you have to discuss your earning expectation because this is supposed to give you an insight to the future so ask questions like, what are his goals for the next 5 to 10 years? Is working his way up the corporate ladder and reaping the steady benefits of regular raises and a pension part of his plan or does he plan to leave and start up his own venture? Questions that relate to your future prospects would help you configure a projected cash flow for the future so you would know what is coming in and what to expect.

Discuss Your Spending Priorities/Accounting

Examples are if you want your kids in a private or public school? if regular vacations are included?  if there are certain amounts that you have to ask each other without spending etc. This should help you figure out the type of book keeping you need i n the family or else get the help of professionals.

Talk About Your End Goal

This means asking questions like; How much do you need to live a comfortable life? What retirement plan you prefer and desire? Where to invest your finances to live a good retirement life? This would enable you to be able to strategize how to get there.

 

Have you had the Money Talk with your partner? How did you start the conversation? Is there anything you wished you had discussed? Share with us in the comment box below.

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