How To Have That All Important Money Conversation When You Start a New Relationship

PennyGem’s Elizabeth Keatinge tells us how to talk to someone you’re dating about money and why it’s important.

Transcript

00:00So you've met your perfect guy. You like the same music, sports, and he actually looked

00:09better than his photo on the app. One more thing, before you get all googly-eyed and start talking

00:14forever, you need to discuss finances and make sure you're on the same page about that. So

00:19awkward though, right? Financial psychologist Brad Klontz tells CNBC that around the same date

00:24you're talking about whether or not the person wants to have kids or where they want to live

00:28someday is probably when you should discuss finances. The National Center for Biotechnology

00:34Information interviewed 52 divorced individuals after their first marriage and found finances

00:40to be the fourth leading cause of divorce behind absence of love, substance abuse, and control

00:46issues. There's low-key ways to get the pulse on how your potential partner feels about money,

00:51asking where they go or want to go on vacation, what date ideas they suggest or are comfortable

00:56with, or talking about your upbringing and what your parents fought about. Talk about

01:00your dreams for the future. You can tell a lot by what someone is planning for. When you

01:04get down to a more serious time in the relationship, perhaps some straight-to-the-point questions are

01:09in order. Do you use a budget? What are you saving for? What are your short-term plans? What

01:14are your long-term plans? As always, respect and communication are key when discussing any important

01:20matters, especially finances.