Five questions to ask your partner to see if youll live happily ever after
‘For richer, for poorer.” Sounds reasonable at the time but when the going gets tough many couples choose to go their separate ways. Financial stress is one of the top causes of break-ups, according to Relationships Australia, and while bills, budgets and debt are hardly the stuff of romance, couples who talk about money often end up with a stronger relationship.
Whether you’re married, engaged or just starting out, if you’ve never sat down to have a money chat it can be a little awkward. The best way to start this conversation is to go in lightly.
Let me give you an example: “What would you do if you won $1 million?” The answer should give you some insight into what your partner values and whether they’re a spender or a saver. So much softer than: “Do you have a spending problem?”
Here are six questions to help you discover a little more about your loved one.
1 IF YOU WON $1 MILLION WHAT WOULD YOU DO WITH IT?
If the answer is “first-class tickets to Las Vegas, Mercedes-Benz SLC convertible, Ducati and pool for the kids,” then you’re dealing with a spender. Often opposites do attract and if that’s the case you need to find some common ground. Can you afford a purchase? Will it put a strain on your finances? Where else could this money go? If you’re the only one who wants to splurge, you may have better luck if you suggest that you’ll pay for it independently with your savings.
Your next move … see where your money is going with apps such as MoneySmart’s TrackMySpend or Pocketbook, which is linked to your bank account.
Denne historien er fra October 2018-utgaven av Money Magazine Australia.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 2018-utgaven av Money Magazine Australia.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
An outrageous, beautiful monopoly
Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.
Drop the anchor to judge value
Buying and selling decisions should be based on where a stock price is going, not where it has been.
Powering the AI boom
Beyond the software and chipmakers, where will the energy come from?
Get into life
Tucked inside super are products that can protect you from life's inevitable uncertainties.
Paths to home ownership
Taking the road less travelled can sometimes deliver unexpected benefits.
Sold! Quick ways to add value
Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.
Money lessons the kids need to know
Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.
Property-investing rules: are they likely to change?
The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.
What's love got to do with it?
A rollercoaster of emotions could be driving poor crypto behaviour.
Are we ready to be cash-free?
Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.
