The Money Talk May 21, 2013My MoneyOff

Love matters. But, so does money.

A recent survey by the American Institute of Public Accountants and Harris Interactive reveals finances cause more arguments among men and women than other domestic disagreements.

So, it’s not surprising that the 2011 Census report on marriage found the poorest states in the country also have the highest divorce rates.

It may sound unromantic, but it’s also a warning for married and unmarried couples, to honestly discuss money matters sooner rather than later.

What questions to ask?

To budget and plan wisely, you need to know if the amount coming in every month is unpredictable or exact.

Do you want shared or separate bank accounts, or both? Deciding together maintains transparency. It will also help you determine who pays each bill and how.

Are you or your partner a compulsive shopper or risky investor? Setting limits on hobbies and vices reduces reckless spending.

You don’t want to feel like your relationship has become 1984, but you do want to make sure both parties are being smart and fair with your money.

If you’re scratching your head over the best ways to answer these questions, consider meeting with an expert or older, experienced couple you trust and respect.

Every situation is unique, but getting the conversation started is key.

Bonus PINK Link: After the money talk, you may realize you’re facing the prospect of a stay-at-home husband!

Have you experienced the side effects of not discussing finances with your partner?

By Christine Stoddard

Christine Stoddard is a writer and television producer. She owns the arts and communications firm, Quail Bell Press & Productions, LLC.

“So you think that money is the root of all evil. Have you ever asked what is the root of all money?” Ayn Rand

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