When it comes to money matters discussing it in a relationship, many men get anxious, especially if it is a new relationship. How much information is too much? Have you gone overboard talking about money or are you keeping your partner uninformed? Where to draw this line? All these questions might plague your mind .
There is no right or wrong answer to these questions above. In times like this, when we are still recovering from recession it is fine to discuss money in a relationship. If you are still paying your college loans, paying child support, risky investments or any other debt you must discuss all this with your partner, but not on your first date or before you know where the relationship is going. If you have things to disclose wait for the right time. To begin with, do not flaunt if you have debt, keep a low profile and see the direction the relationship is heading to and then decide if you want to share your money matters with your partner or not!
Financial clarity is an essential ingredient for a rock-solid relationship. Once you have taken a decision to share responsibilities, each one should be informed about other’s priorities and liabilities. Discussion on your finances is absolutely necessary; this can be casual conversation, just like any other conversation you have with your partner or a more formal one, depending upon the stage your relationship is in.
Have an open mind on your partner’s suggestions or advice. The point here is not to scare your partner but letting her know of the responsibilities you have at the moment. Inform your partner about your previous dues and expected future payments. You should also clearly define the length and duration of these payments, and your current financial planning. Whether it’s a new relationship or an old one, planning your finances will always play an important role in any relationship. Being honest about your finances will only make your life easier. But if you are not sure how to approach it the best way to explain a situation is with an implementation plan.
Even if you don’t have a conventional pay schedule you should still discuss your finances regularly. For example, your business venture or investments may have paid you well; you are going to receive other benefits or maybe a large inheritance. Now if this is your reality you may want to be very cautious to give all your financial details to your partner. If you are better off financially then your partner revealing too much too soon can put you in a situation where you are not sure of your partners intentions.
Bottom line, evaluate your relationship before you decide to disclose any money matters. If you have taken the step to let someone into your financial life it is essential that you establish boundaries and your preferences and once you have taken the leap it is best to be as open as possible as financial secrets can be detrimental to your relationship. So, in a situation when you are financially sound and you have decided you want to combine your finances with your partner make sure they are being just as open as you are.
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