Relationships are a challenge, and there are lots of factors that can make them even more difficult to deal with. Conflicts about work, family, and whose turn it is to take the trash out are enough to put a strain on even strong bonds – it’s no wonder that so many people find themselves looking for a new partner every months.
One complicating factor in many budding romances is that of money – specifically, how much your boyfriend or girlfriend should know about the details of your finances? The answer to this question depends on how serious your relationship is, and where you see the partnership going in the future.
Wondering just how much you should reveal about your money, and how soon? Take a look at the details below for some tips:
It’s not essential to tell someone you’ve just started dating, or that you’re just dating casually, about your money. If you’re unsure of how serious you’re likely to get with your new sweetie, playing your financial cards close to the vest is probably in your best interest. After all, you could overcomplicate a new relationship by revealing too much, too fast.
An exception to this rule would be if you’re experiencing a severe financial hardship that’s impacting your life beyond your checkbook. For example, if you’ve recently experienced a foreclosure, this can consume your time, attention, and money for months or even years. Rather than making a bunch of excuses, consider being honest – it’ll be much easier on you to have this type of information out in the open.
Seriously dating or living together
If your romance starts to become serious, it’s time to think about revealing a little bit more to your significant other. Depending on how comfortable you are with talking about money, you’ll want to share your salary, total debt load, and savings habits with your sweetie as things start to intensify between you two.
Again, how specific you choose to be with this information depends on a lot of factors, but remember that it’s impossible to really know someone without knowing their money habits. Consider these revelations an important part of deciding whether or not you want to be with the other person long-term.
If you’re thinking about getting married, it’s time for you and your significant other to get really specific with each other about your finances. It’s important at this point that you talk about actual numbers: total savings account balances, total debts, credit scores – the works. Spare no detail, no matter how scary.
At this point, if you’re unhappy with what you’re hearing from the other person, you need to talk it through or walk away before you make a commitment that’s hard to un-make. Money woes are one of the most common reasons that people get divorced which means it’s better to deal with any potential problems before they start.
Love and money might not seem like a good mix, but if you reveal the right information at the right time, you’ll be in good shape with both this Valentine’s Day.