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Talking Money with Your Significant Other

Talking about money is an important part of a successful relationship, especially if you're getting ready to take a big step like moving in together or getting married.

​Money can also be a sensitive subject for couples. The truth is, the more you communicate about money, the easier it will become!

Get on the same financial page as your partner by asking one another these money questions:

#1: What are your financial goals?

Asking your partner about financial goals is a great way to open a conversation about money. What do they want to achieve in the next year? What about five or ten years from now? This can be anything from paying down debt to saving for a vacation, buying a home or starting a family.

Asking about your partner's short and long-term goals will also give you a good idea of how they envision their future lifestyle and whether it aligns with your own goals and dreams.

#2: What's your spending and saving style?

It's not unusual for couples to have different habits and styles for spending and saving money. Maybe you're a spontaneous spender while your partner likes to plan every purchase. Take some time to understand one another's values and attitudes about money. When you know where the other person is coming from, it's easier to meet in the middle as you navigate financial goals and challenges as a couple.

#3: How much debt do you owe?

Debt can be an uncomfortable topic to bring up, but sharing your debt information with your partner is very helpful. If you're thinking about getting married, you want to understand how much debt you're each bringing to the marriage. It's best to be open, honest and transparent about your debt picture.

When you're ready, schedule a time for you and your partner to share your debt information, including your credit scores. It can help to organize this information using a debt inventory worksheet. You can find details about your debts on your credit report, which you can access at

#4: Do you have a debt payoff plan?

Once you know what debt your partner is dealing with, ask them about their repayment plans. What steps are they taking now to pay it down and eventually off? Do they have a long-term savings and spending plan to get ahead—and stay ahead—of debt? Using a debt payoff calculator is a helpful starting point to determine what it will take to pay off debt.

If you or your partner need extra help getting ahead of debt, Wright-Patt Credit Union (WPCU) offers members free budgeting and debt counseling through our partnership with GreenPath Financial Wellness.

#5: How should we organize our finances as a couple?

If you're planning to live together, you'll want to come to an agreement about money arrangements before move-in day. Here are some points to consider:

    • ​Will you split the rent and bills equally or make another arrangement? What about other costs like groceries, cable, furniture and pet expenses?
    • Will you open up a joint account or keep finances separate?
    • Who will handle paying the bills?
    • Will you set up a household budget?
    • How will you make financial decisions as a couple?
    • Should you discuss a purchase with your partner if it's above a certain dollar amount?
    • How often will we have check-ins to talk about money?

There's no right or wrong way to divvy up household bills or responsibilities with your partner. What's important is that you both set honest, realistic expectations before taking the next step! 

Approach the “money talk" with confidence

While talking about money isn't always fun, it will help you learn more about your significant other and grow stronger as a team! Remember, you don't have to discuss these topics all at once. It's best to go slow and be mindful of your partner's unique background, experiences and perspectives.

Is it time to have the money talk with your partner? Wright-Patt Credit Union has you covered! Check out our helpful tips for starting important conversations and achieving financial harmony with your significant other.