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How to Talk Money with Your Honey

May 11, 2018 | By Louis Tully

Though it may feel intimidating at first, being upfront about money is healthy for any relationship, especially couples who are considering tying the knot. The truth is, if you go into marriage without any knowledge of how your significant other handles their money, you could be in for a rude awakening down the road. If you want to avoid potential arguments and the need for installment loans to get out of debt, it’s super important to start talking about all things money now. Here are some tips on how to “talk money with your honey.”

Serious Relationship, Serious Discussion

If you don’t want to send your partner running for the hills, it’s important not to dive headfirst into certain topics too soon. For example, you should probably avoid talking about heavy money topics like savings and retirement plans on the first date. Keep things light initially, and slowly branch out into more serious discussions about money as your relationship becomes more committed.

Talk Broadly at First

As previously mentioned, it’s important not to get into specifics too early in your relationship. If this is your first time bringing up money in your relationship, start off small. Talk about general money topics, like what you would do if you had a million dollars. This gets the subject of finances on the table and is a good segue into deeper discussions about money.

Talk Beyond Spending

Sometimes, it’s easier to only talk about things we’d like to spend money on - a house, a car, a vacation, etc. If spending is all you and your partner are talking about, try to steer the conversation the other way into more important money topics, like long-term savings, investing and retirement.

Look for the Red Flags

We’re all different. In fact, there’s no two people out there who will agree on everything. When it comes to money, some people like to spend every dollar they have now, while others prefer to save their money to make sure they’re able to enjoy their future. Where does your partner stand on this subject? If you’re a saver and they’re a spender, try to see if you two can meet somewhere in the middle. If not, that’s a red flag and a possible deal-breaker. If there are too many disagreements on the subject of money, it may be a sign that you are not with the right person after all. Whether you agree on money matters or not, it’s better to find out now than down the road.