discuss personal finances with your partner

Money can be a difficult subject to talk about, especially between couples. More often than not, people are embarrassed to reveal that they have a huge debt and little or nothing to show for it. They also do not like to admit that they spent more than they can afford.

Although it can be uncomfortable, there are more than a couple of reasons to open up to your significant other about the state of your personal finances. So, in this article, let us discuss

5 reasons why you must discuss personal finances
with your partner…


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  • It makes it easy to accomplish long-term goals together

Whether it is paying down debt, increasing retirement contributions, or starting a side job to test out a career change, a couple can accomplish extraordinary things together when they commit to a goal. Talking about these goals and how to achieve them together can be a good way to ease into the topic of finances. You can start by discussing with each other what you would like to do in the next year, five years, and beyond, and then, you can slowly open up about what things you would like to do financially to get you to that point.


  • It can improve the trust in relationship and quality of life

Honesty and communication are the foundations of a solid relationship, and that is especially true when it comes to money. Couples have admittedly seen major strain in relationships that resulted from one or both partners hiding aspects of their finances.

  • It improves your communication in the long run

You do not need to reveal every detail of your finances on the first date, but experts agree that it is better to at least broach the topic sooner rather than later. According to experts, soon as it gets serious and you start talking about the future together, it makes sense to start talking money. You do not need all the gritty details right away, but to open those lines of communication early on and gauge your potential partner’s receptivity to it would be important. Regular money check-ins with your partner throughout your relationship are vital to keeping those lines of communication open.

  • Financial compatibility can make or break relationships

Arguments over money and finances are all too common, and they can cause real harm to a relationship. Even partners who seem to agree on everything may be surprised to discover they have totally different views when it comes to money. In a relationship, you learn how and when to compromise with your partner about where to put your toothbrush or how to load the dishwasher. Coming to an understanding early on about how to manage finances is just as important. Keep in mind that couples who do not talk about money before marriage put themselves at greater risk of finance-related divorces down the line. If you want your marriage to get off to the best start possible, do yourself as well as your partner a favour. Sit down and have the difficult talk about money.

  • Lack of financial trust can be a marriage killing issue

Trust is an essential component of any relationship, and once broken, it may be impossible to put it right. Financial infidelity takes many forms — from undisclosed debt to secret credit cards and overdrawn bank accounts. Any of these could jeopardize your financial future or that of your partner. Even if your relationship can survive a financial indiscretion, it could still take years for your family’s finances to recover. And if the situation ends in divorce, the diminished size of the joint-asset pie could leave both parties worse off than they would have been otherwise. If you want to maintain a relationship built on trust, you have to be honest with each other about your financial challenges and learn how to tackle them together.


At times, it seems like money is the only remaining taboo. Couples who honestly, even eagerly, discuss all aspects of their personal lives suddenly clam up when it comes to finances. In a perfect world, conversations about money and finances wouldn’t be so uncomfortable. But in the real world, financial discussions can be a considerable source of conflict, especially in the midst of a new relationship. It is perfectly fine if you don’t want to talk about money on the first date. But as a relationship gets more serious, discussions about money, debt and interest payments become more important. If you and your partner learn how to talk about finances now, those discussions will be a lot easier by the time you are planning a wedding. Moreover, it will put you both on the right track to have a more successful future together.