Finances and Philosophy: Questions to Ask Your Partner Part 1

Romancipation

S4 Episode 12: Finances and Philosophy: Questions to Ask Your Partner Part 1

Episode Summary

For many people talking about money is difficult and uncomfortable. Few people grow up in families where finances, debt, investing and budgeting are openly discussed. This is why it is critical to have conversations with your partner about your own financial philosophies and gain insight into theirs.
If you have decided to share your life with another person, you both need to be clear about your financial expectations on savings, spending, debt, lifestyle, home ownership and allocation of funds. Asking questions is an important step in creating an open dialogue with your partner about your fiscal wants, needs, aspirations and past mistakes.
Being on the same page as your partner when it comes to budgeting, money management, spending limits and saving can reduce conflict and increase a sense of partnership. When each of you is accountable to the other, the economic decisions you make as a couple can reinforce trust and respect.
At the end of each episode, Marlee and Lis vent about commonly experienced issues in romantic relationships. In this episode, the ladies discuss how it feels when your partner does not make your relationship a priority over his or her friends.

Show Notes

It’s so important for you and your partner to be on the same page with your financial philosophies. If you’re not in sync when it comes to money, you’re guaranteed to encounter conflicts that build exponentially. Having an open conversation early on sets the foundation for a successful relationship.
Debt is an unfortunate reality of living in an expensive world. There’s a lot of stigma and shame around debt, which is why we feel like we need to hide it. It’s critically important to uncover your partner’s debt and be transparent about yours. Being open and honest about finances is an important aspect of your relationship at any stage in life.
Always ask your partner about their debt, including what kind of debt they have. Do they have student loan debt, or credit card debt? Uncovering the root of their debt may give further insight into their values and spending habits. Be sure to also ask your partner how they feel about debt. Keep in mind that their philosophy, as well as yours, is often passed down generationally.
Does your partner believe in loans? What’s their credit score? It’s better to have a conversation than assume they agree with the same philosophy as you. Even if you’ve been in your relationship for a while and haven’t brought up these topics to this point, it’s okay to discuss them now. The stage of your relationship doesn’t matter—you should always know the details of finances in your relationship.
In this episode, the vent session topic is: When my partner does not make our relationship a priority over friends. If your partner only chooses you when there is no other option, you are not a priority to them—and you deserve better. They should be there for you when it’s important to you and you need them.
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