I remember a friend who seemed to have it all figured out in her relationship. She and her fiancé looked perfect together, but just a year into their marriage, they were constantly arguing about money. It turned out they never discussed their finances before tying the knot.
I guess you don’t want to end up in that situation, right?
Financial compatibility is crucial, and having the right money conversations before marriage can save you a lot of stress and heartache. This is why you need to ask money questions before saying “I do”
Money Questions You Need to Ask Your Partner Before Marriage
Here are some Financial questions you should ask your partner
1. What’s Your Financial Background?
First things first, you need to understand where your partner is coming from financially. Ask about their financial upbringing. Did they grow up in a family that saved diligently, or were they more carefree with spending? This will give you insight into their money habits.
It’s important to discuss any debts they might have because knowing this upfront can help you plan better. So, you won’t get married and discover a huge financial burden you weren’t prepared for.
2. How Do You Handle Money?
Everyone handles money differently, and it’s crucial to know your partner’s style. Do they prefer using cash, or their debit card? Are they into budgeting, or do they spend as they go? Understanding this will help you see if your financial habits align.
You should also ask about their saving and investing habits. Are they the type to save for a rainy day, or do they live paycheck to paycheck? Discussing investment plans can also give you a glimpse into their future goals and how they plan to achieve them.
3. What Are Your Financial Goals?
Speaking of goals, you need to be on the same page about what you both want financially. Are they planning to buy a house soon, or do they prefer renting? Do they want to travel the world, or are they more focused on saving for retirement?
Having a clear understanding of each other’s financial goals will help you work towards them together. It also prevents any future conflicts about money-related decisions. You don’t want to find out years later that your partner’s dream of early retirement doesn’t align with your goal of starting a business.
4. How Do You Feel About Joint Accounts?
One of the biggest decisions you’ll make as a couple is whether to merge your finances. Some couples prefer joint accounts, while others like to keep things separate. Discussing this early on can prevent misunderstandings down the line.
Talk about how you’ll handle bills, savings, and expenses. Will you split everything 50/50, or will one person take on more financial responsibility? This conversation can help set clear expectations and avoid any resentment.
5. What’s Your Spending Style?
Is your partner a spender or a saver? This is a big one. If one of you loves splurging while the other prefers pinching pennies, it could lead to conflicts. Understanding each other’s spending styles can help you find a middle ground.
Discuss how you both feel about discretionary spending. Are there certain things you’re willing to splurge on, like gadgets or dining out? Or do you prefer saving for bigger purchases? This will help you manage your finances without stepping on each other’s toes.
6. How Do You Handle Financial Stress?
Money can be a major source of stress, and it’s important to know how your partner deals with it. Do they tend to avoid the issue, or are they proactive about finding solutions? Knowing this can help you support each other during tough times.
Ask about their coping mechanisms and how they handle unexpected expenses. Do they have an emergency fund, or do they rely on credit cards? Understanding their approach can help you prepare for any financial challenges you might face together.
7. What Are Your Views on Financial Independence?
This is a crucial topic, especially in a marriage. Some people believe in maintaining a degree of financial independence, while others prefer complete financial unity. Discuss how you both feel about this.
Will you both contribute to the household income or will one person be the primary earner? How do you feel about each other’s career aspirations and potential financial contributions? This conversation can help ensure that both of you feel valued and understood.
8. How Do You Plan for the Future?
Planning for the future is essential, and you need to know if your partner is on the same page. Ask about their retirement plans. Do they have a pension plan or retirement savings? What age does your partner hope to retire?
Discussing long-term financial plans, such as investments and savings, can help you build a secure future together. It also gives you an idea of their financial maturity and how serious they are about planning for the future.
9. What Are Your Views on Financial Education?
Financial literacy is key to managing money effectively. Ask your partner how they feel about learning and improving their financial knowledge. Are they open to attending workshops or reading books on personal finance?
Being on the same page about financial education can help you grow together as a couple. It also shows a willingness to improve and adapt, which is crucial for a healthy financial relationship.
10. How Do You Feel About Supporting Family?
In Nigeria, supporting extended family is almost like a compulsory task. It’s important to discuss how you both feel about this. Will you be financially responsible for your parents or siblings? How much support are you willing to provide?
Having this conversation early can help prevent conflicts later. It’s important to set boundaries and agree on how much support you’re both comfortable with providing to family members.
Read Also: Types of Budget
Conclusion
Talking about money might not be the most romantic part of a relationship, but it’s one of the most important. By asking these crucial questions, you can ensure that you and your partner are financially compatible and ready to work together as a team.. So, take the time to sit down and have these conversations.
