We ordered a round (one round only) of margaritas and proceeded to jot down the following on a piece of paper: annual income, bank balances, outstanding loans and credit card balances and approximate credit score.Then we swapped papers, revealing our details at the same time.One way to frame your request for a money summit: “I know it’s not the most exciting thing to talk about, but it would make me a lot more comfortable if we could go over our finances together since things are getting more serious.I’m not worried at all; I just think it’s helpful if we share the basics so that we’re both on the same page and can work toward common goals.Plus, if you’re not particularly proud of your financial state, a no-holds-barred discussion may stir up anxiety, embarrassment and fear of rejection.enter this critical conversation into the record in the early stages of your relationship: Set a Date My now-husband and I had a money powwow about two years into dating.
If you and your mate haven’t come anywhere near this conversation yet, my recommendation is to schedule a time to talk so that your partner doesn’t feel blindsided and so that you can each do a little homework beforehand if need be.
And along the way you may gain some insights into each other’s financial values or work ethic, too.
Once when you’ve gotten all these basics out of the way, treat yourselves to another margarita. Now that’s a relationship milestone to be celebrated.
“Most important, you want to know what are their spending and saving personality is like. ” says Kate Northrup, author of Go down memory lane together to ease into your credit technicals.
Talk about how you might have signed up for your first card in college just to score that free t-shirt.