Updated: 3 days ago
Talking about money can be uncomfortable. When the discussion finally arises, it can get downright heated!!
Talking about money is still taboo in many relationships, but the lack of communication can be toxic. If you and your partner can learn from each other, those little arguments triggered by mundane issues are more often from deeply rooted money issues.
Talk it out.
You must talk about money before your relationship becomes serious—a person's financial habits are an incredible insight into his values and ethics. That doesn't mean a lousy credit score is a reason to break up, but if you find that your new love interest doesn't handle money responsibly, you have to question what else he
isn't going to be upright about. If you're the one with the issues, be honest about your shortcomings. A good relationship is one in which each party helps the other make better choices—and you and your partner might be able to help each other become smarter about money.
Financial infidelity is more common than you would think and can tear even the most solid relationships over time. According to a recent FP Canada and Credit Canada survey, one in three Canadian has been a victim of financial infidelity. The survey also found that 34% of those in a relationship kept financial secrets from their romantic partner, and 36 % lied about a financial matter. Single adults between the ages of 18 and 54 are the most common victims of financial unfaithfulness. You're just cheating yourself by not being honest about your finances. Honesty is the best polity when it comes to money.
After you marry, every asset either of you acquires is jointly held. That's why you both need to be in sync with your long-term financial goals, from paying off the mortgage to putting it away for retirement. Ideally, it would be best if you talked about all this before you wed. If you don't, you can end up deeply frustrated and financially spent. Discussing money with the man you hope to spend the rest of your life with doesn't mean you don't love him. It means you love him and yourself.