Talking about finances can be super awkies at the start of a relationship but it’s important to understand each others approach to money. When do you have this discussion? Maybe the first Bumble date might be too early, but you also don’t want to find yourself 5 years down the track and learn that your partner is £25k deb nor do you want to be saving for a house deposit while your partner is busy buying up bitcoin? It’s important that you understand each other’s money mind-set when it comes to finances as you will ultimately be inheriting their wealth or their debt.
On today’s podcast show, we talk to Founder of Mr Social Nana Wereko-Brobby who runs real life dating events about how to broach the subject of money, love and relationships!
Here are 20 questions we have put together for you to discuss with your honey to make sure your both on the Money!
If you won a million pounds in the lottery what would your first purchase be?
What word would you use to describe your money habit? (Thrifty, a spender, money savvy, a saver, a splurger?)
Do you have a budget you stick to?
Do you know how much you spend every month?
What your preference when paying for things? Cash, Card or Credit Card
How much is enough?
Do you have debt? ( student loans, credit cards, personal loans or other)
Would you lend money to a friend in need? If so how much?
How much is okay to spend without telling the other person?
How will you pay for bills, share account or split everything and will you still keep your own separate bank accounts?
How did your parents behave around money?
Do we have equal say on how we use our money, no matter who earns more?
What are you saving for ( house, travel, holiday, wedding)
What are our retirement goals? – such as what age and how much do you want to retire on?
How much do you need to live on? Think about how long you’ll need to work for and whether it’s full-time?
When will you talk about money? Date night? Monthly, yearly, quarterly weekend away etc?
If one of you isn’t earning, will the other pay pension for the non-earner?
Perhaps one of you will raise the children, become unemployed or is unwell. What happens if one has a break from work?
Do you have life insurance, critical health insurance or income protection insurance?
If you have kids should they get pocket money without doing any jobs and how are we going to teach your kids about money values?