Here are five things to talk about openly before getting married or living together.
Do not lie about debts and loans
Many people think that debts and loans are everyone’s personal thing, but are they the same with partners? Even if you have separate accounts , financial problems can have a major impact on your entire household. Whether it’s a non-bank loan or a car leasing, never conceal anything. You should hold together on debt. Together, you can better prepare a repayment plan, or a debt-free partner can hold you back.
Lying is definitely not worth it. Especially if you have decided on a common mortgage. If you or your partner have a bad payment history, you will have to wait until your goals are met. But if you are honest, things can move faster. After all, more heads know more.
Skimmer or rake?
Partners’ different attitudes to finance can play a bigger role in the relationship than you might expect. While one values experiences, the other favors material things or saves every crown, what if… What different priorities will be most apparent when the belts need to be tightened. An agreement on whose hobby it will save on can then lead to a really sharp debate.
It’s good to know your partner’s priorities. Sparrows and revelers must come to a common compromise that will at least partially satisfy both sides. Financial habits often come from childhood and are often a sensitive topic. Therefore, do not postpone their solution until the situation is tense.
Green joint management
Talk about the common farming regime. Who will be in charge of household and rental bills , who will pay for the purchase and whether to set up a joint account.
There are basically three variants:
Keep in mind that whatever your means of money management , your funds acquired after marriage are part of the non-share ownership of the spouses. So it doesn’t matter which account they’re on.
Finance and children
If you’re planning kids together , it’s definitely an opportunity for another talk about finance. The question is not just whether you can afford a child in the current situation. You will also be faced with the decision whether to save on his university studies, extracurricular activities or what the amount of pocket money should be and from how many years he has given it to the child.
You will need to find answers to these questions together. It is important to clarify them right from the start , at least to avoid unpleasant surprises in your partner’s attitude.
Do you have plans for retirement?
Maybe a premature topic and maybe not. Chances are you both want to save for retirement. But do you have a common vision of what your pension should look like? Find a place to discuss your ideas now. Then you will not be surprised that your partner wants to sell a house and travel while you were planning to spend your retirement playing golf and watching TV.