Money Talks: Essential Questions for Couples Considering Marriage

Happily Ever after starts with honest money conversations.

Getting married is a big step in life, and while you may have discussed many important topics with your partner, have you talked about finances? Money matters can often be a sensitive subject, but they are crucial to address before tying the knot. After all, money is one of the leading causes of divorce. To ensure a solid foundation for your future together, it's essential to have open and honest conversations about finances.

Here are six key questions to ask your partner before saying "I do."‍

1. What are your annual salaries?

‍Knowing each other's income is the first step in understanding your financial situation as a couple. Discussing salaries can help you plan your budget and set goals together.

2. What are your annual expenses?

‍Understanding your expenses as a couple is essential for budgeting and planning for the future. Be transparent about your monthly bills, debts, and any other financial obligations you may have.

3. What's your credit scores?

‍Your credit score can impact your ability to make significant purchases together, such as buying a house or car. Knowing each other's credit scores can help you understand your financial health as a couple and work together to improve it if necessary.

4. What are your current investments, and 5. What's your risk tolerance?

‍Discussing investments and risk tolerance is crucial for long-term financial planning. Understanding each other's investment preferences can help you make informed decisions about your financial future.

6. When do you want to retire?

‍Retirement planning is something many couples overlook when discussing finances. However, it's essential to align your retirement goals and timelines to ensure you're both on the same page about your future together.

Conversations about money can be challenging, but they are necessary for a healthy relationship. Consider setting aside dedicated time to discuss these questions with your partner. You might choose to tackle one question per conversation to make it more manageable. Or having these conversations on a date or during another activity can also help make the discussions feel less daunting.

Remember, the goal of these conversations isn't to judge or criticize each other but to understand each other's financial values and goals better. By having open and honest discussions about money before marriage, you can build a strong financial foundation for your future together.