There is one conversation that is often overlooked even after a couple goes through specific relationship milestone: financial compatibility. Many are times when we come across a new person and we focus on configuring out how compatible we are emotionally, psychologically, physically and spiritually to them. Is it less instinctual to look at whether or not we are financially compatible? Taking a loan at Northcash as a couple will require the two of you to discuss more about the installment
If you think deeply about it, for you to be happy together, money has to play a major role. But then, it is quite a big oversight to not consider asking your new partner about issues that revolve around money. Below are eight major questions that we are often afraid to ask our partners about money.
- How did your parents handle their income?
When children are growing up, observing the ways in which their parents navigate their day-to-day or monthly finances are part of the skill the child grows up with. They also observe their parents’ expenditure behavior. From that, the child either mimic’s the parents or in some cases, consciously tries to come up with something different, but from the basis of what they observed from the parents.
When the financial expectations of you and your partner do not match, especially when you have a mutual thing to accomplish, it is important to be clear to your partner on where you can compromise.
- Did your parents talk about money openly or did behind closed doors?
How parents do or don’t talk about money has a major impact on the child’s growth to adulthood in regards to money. They may either be fearful when they come into contact with money or be irresponsible. For instance, a man can be less financially mature than the partner if he grew up with parents who talked less or never talked about money with him. In such cases, the partner should have a closer eye on money matters with him and often have discussions about more with him.
- Do you have any financial regrets?
Debts can impact greatly on relationships and this is the reason why asking whether your partner has financial regrets is important. Consider easing into this kind of conversation with your partner so as to avoid them getting defensive. Partners should also share with each other the amount they make and how much they have saved. Openly sharing the information with each other can help you move forward and work as a team.
- Are you financial dependant on your parents?
A partner being unable to cover for some of his or her bills and financial ties to his or her parents should send you a signal that they might not be ready for some milestones. Getting your partner comfortable to have them explain this situation is the ideal way to starting this conversation. The next step is to have a plan on how to establish a financial independence as a couple. You are a team, remember.
- Do you have financial dependants?
Having an up-front conversation if you have somebody you are supporting, every time you help a cash-strapped friend or when you send your parents’ money gives a fuller financial picture to your partner. The partner, on the other hand, should not be quick to judge, but help advises you accordingly to what may seem right for the relationship and both of you.
- What splurge are you addicted to?
Coming clean with your partner on the indulgences that you are not willing, at that time, to give up even if you know that he or she may be bitter about it. Being honest may help both of you coming to a common ground easily.
- What are you saving up for?
Asking your partner about the thing that they are saving up for helping you to analyze and know the priorities of your partner. This way, you can accomplish both of your goals by helping him and him helping you to save up for what you value.
- Where do you see yourself in the next five years?
The vision each one of you has for the future is equally important to be shared amongst you. This will make you know if you are in sync and also what if both of you are working enough for the accomplishment of your dreams.