Talking To Our Partners About Money

Debt. Income. Bills. Spending Expectations. Money Goals.

At first glance these don’t seem like the most fun topics to bring up with our partner but being open and honest and on the same page can relieve stress. Planning for the future together can be a lot of fun. 

Everyone has a different history and mindset with money and chances are that you and your partner may have different perspectives so open ears and an open mindset are essential.

What should we discuss? Everything ideally.

Income. It’s good to know how much is coming in. What the difference may be between incomes. And how both parties spend the money they have coming in.

Credit Scores. Eventually we will end up making financial decisions together and our combined credit scores will affect our financial futures.

Debt. If either party has debt it has to come out in the open. Whether it is credit card debt, student loans, or anything in between we need to be transparent with our partners. It might be hard to talk about the details but putting it all out in the open will help foster trust in our relationships. 

Money habits & expectations. How do we both currently spend money? How do we both save money? Do we budget? What is most important for both parties? How much can we spend before we have to consult our partner? 

Money goals. What are we collectively or separately saving for? Maybe we want to save for a down payment for a house. What does that timeline look like?