Financial Questions to Ask Your Partner

Discussing finances with your significant other is important for building a strong relationship with trust and transparency. Being on the same page financially can help reduce stress on a couple and lead to a better quality of life. Here are five essential questions to ask your partner:
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How do you manage your finances?
Understanding how your partner manages money within their financial philosophy and priorities can help you adapt and plan more effectively. Management becomes easier when you’re both on the same page.
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What are your long-term goals?
Discussing long-term goals can help you work toward a common objective. Whether you're planning to purchase an auto or house, save for retirement or build up emergency funds, knowing each other’s goals can strengthen your ability to reach them.
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How should financial obligations be shared?
Splitting every bill down the middle may not be ideal, especially if one partner earns significantly more than the other. Work out an agreement on handling costs and obligations that is in the best interests of both partners.
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What’s your lifestyle vs. savings balance?
Some people are extreme penny-pinchers, sacrificing impulse buys to prioritize savings or wealth-building. Others live more in the moment, preferring to maximize life experience over future planning. Talk over where you each see yourselves on the spending spectrum.
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How did your family think about money growing up?
How one’s family views money during their childhood leaves a big impact on them in adulthood. Ask your partner what they learned from their family about handling money when they were young. It can provide you with a better understanding of their present-day actions.
Having open and honest conversations about these kinds of questions can help your relationship and your finances grow together. Remember, the goal is to understand each other’s perspectives and work toward common goals.
Are you looking for a joint savings account to build your finances together? We can help you with that.
Sources:
https://www.forbes.com/sites/cicelyjones/2024/03/24/6-financial-questions-every-newly-engaged-couple-should-discusshttps://www.cnbc.com/2023/02/14/most-couples-financially-incompatible-having-a-money-talk-could-help.html
https://www.forbes.com/sites/truetamplin/2024/02/10/7-questions-you-can-ask-your-partner-to-become-more-financially-compatible
This article is provided as a free service to you and is for general informational purposes only. Cadence Bank makes no representations or warranties as to the accuracy, completeness or timeliness of the content in the article. The article is not intended to provide legal, accounting or tax advice and should not be relied upon for such purposes.
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