Relationships are complicated enough and introducing money into the mix has the potential to get messy. At what point do you start talking about money? What if you're on different financial levels? I've found that in exploring and learning more about money management most people still think that talking about money is taboo. It shouldn't be!
Just as communication is important in any relationship, talking about money is one more thing that can bring you closer together as you can understand each others financial situations. There's no formula for when you should start talking about money, but follow your gut and as you become a more serious couple, it's something you'll want to address. I've found that it's helped Ryan and I understand each other and work towards common goals, such as saving towards our vacation or knowing what we can afford together as a couple.
If you're not on the same level, that's okay too. There's nothing to be ashamed of and by talking about your situation, you can help your significant other understand where you come from. This can help explain some of your habits surrounding money and it'll be great to know that you've got a support system with someone who's there even if you don't have a perfect credit score or tons of money saved up.
You don't need to dish out the details of exactly what you make or the exact amount in your savings account. Honest ball-park ranges are perfectly fine. For example, do you have a savings account? Do you put money into your savings account on a regular basis? How were you raised when it comes to money? What kind of lifestyle do you see yourself living in the future? Do you have a lot of credit card debt? As you get to know someone better, you'll inevitably figure out the answers to some of these questions. Don't be afraid to talk about money, if you see yourself marrying this person, it's better to start talking about money now and understanding each others situations rather than ignoring any potential issues that might cause strife later.
During my daily routine of looking online at my favorite newspapers online I came across this great article from the Wall Street Journal titled, "Questions to Ask After 'I Will' but Before 'I Do'.
The article does a fabulous job addressing the fact that "whether the issues are big or small, money will prove a powerful force in impacting your" relationship. While we may not all be getting married any time soon, it's great to have an open dialogue about money and money management!
...and on that note, time to enjoy a romantic dinner cooked by Ryan. Happy Valentine's Day!
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