Financial Success for Couples
Talking about money with your partner or spouse can be difficult. Whether it’s a new relationship or you’ve been married for 20 years. From budgeting to investing, here are a few questions to touch on with your spouse to gain financial success.
How much do you currently make?
This question may be uncomfortable for new partners or spouses, but it is an essential question for budgeting together. Knowing both incomes allow you both to understand what you can and cannot afford when purchasing large items such as houses or cars or even just budgeting for other bills.
Do you have any debt?
This can range from student loan debt, credit card balances, personal loans and much more. Being transparent with your financial standing is important in your financial success. This allows you to balance your income and debt better together as a team.
Are you comfortable carrying credit card debt?
You may be someone that absolutely can’t stand having credit card debt but have a spouse that is comfortable with their credit card always having a balance. There is no right or wrong to what you’re comfortable with. Talk about ways to balance and compromise to have financial success.
Last but not least, always be open and honest with your expectations of your finances. Transparency is necessary so not only one spouse is responsible for your financial success.
Learn how to maximize your financial success by considering investing.
Post author: Kayce Barajas
The opinions expressed on this page are for informational purposes only and is not intended to provide legal or financial advice. The views expressed are those of the author of the article and may not reflect the views of the credit union.