One fine evening you find yourself all relaxed and at ease; the conversation between you and your significant other is flowing like the Sancerre you’re drinking, the stars are aligned, Marvin Gaye is playing in the background and everything points to the fact that this is the perfect moment to pop the question(s).  What exactly should you be addressing? Here’s our low-down.
 

1. Ask about those debts. It’s not a pretty subject, but you gotta know what you’re in for - so asking your partner about their outstanding debts is crucial. Whether it’s credit card debts, student debts, or informal, family debts, having an idea of what they owe will help you both when it comes down to the nitty gritty details, like, ahem, drafting a strategy to repay them.
2. Get to know their spending habits. If you’re a ‘I’ll just splurge it on a handbag’ kind of girl, and your sweetheart is all about frugality and savings, you’ll both be in for a bit of a shock when you make the decision to cohabitate. Make sure you get an idea of their spending habits before you tie the knot, lest you both feel infinitely frustrated with one another’s spending (or lack thereof).
3. Ask about their goals. Do they want to start their own business? Own a house? Have six kids? Jet-set around the world? Or do none of the above, instead dreaming of early retirement to write a sci-fi novel? Whatever it is that floats their boat, you need to have an idea of what lies ahead to be best plan your financial future.
4. Opening a joint account. If you’re thinking about living together, have you talked about how you’re planning on taking care of household expenses? Having a joint account can make both your lives a lot easier, but it does require a high level of trust. Ask your partner about their expectations when it comes to having a shared account, and make sure you both agree on what’s acceptable spending, and what isn’t.
5. Saving for the little ones. Assuming you’ve already had the mildly cringey ‘do you want kids’ talk, your next step should involve making a concise and joint agreement on how you’re planning to save up for the (expensive) bundles of joy. And don’t forget to discuss what you expect to happen to both your careers: will the burden of bringing home the bacon lie entirely on one parent, or will you both go back to work? Have you factored in the costs of childcare, and the negative effect maternity leave can have on your capacity to earn in the future?

Credit photo: Giphy.