Financial Questions Couples Should Ask

You know your significant other person's favorite color and food, but what do you know about their financial situation? While this can be a hard subject to talk about, it's an important one. Here are a few financial questions every couple should ask one another.

How do you feel about spending vs. saving? Everyone tends to enter adulthood with different views of how money should be spent. Some keep very close tabs on their money, while others only know when they run out. Knowing if your partner is a saver or a spender can help you resolve conflicts now.

What is your credit score? Although this not a deal breaker, if their score is low it can indicate how they've treated money and bills in the past. Credit scores can impact your future ability to buy a home, get a loan, or even a job.

What kind of debt do you have? You need to know if your partner has student loans, credit cards, credit lines, house loans or owes people money. This will affect your overall budget and cash flow.

What are your financial goals? One person's goals might be to make rent each month while the other person's is to become financially independent. Knowing what each person wants out of life is a way to plan and make sure goals line up as a couple.

Financial discussions are often avoided. Rather than being afraid of the fight broaching a financial topic may stir up, recognize that money and finances play a large role in your life together. It's better to talk it out, because you can't afford not to.

This Newsletter Is Compliments Of:
Marlene Schell
Diana Wood
Janet Thompson
Lisa Davis
(714) 891-1936 - (562) 594-9721