5 Essential Pre-Marriage Money Talks To Have With Your Partner

According to a survey by Bankrate:

“42% of U.S. adults who are married, in a civil relationship or cohabiting with a partner say they have kept or are keeping a financial secret from their partner.”

Wedding season is in full swing. If discussing money isn’t part of your relationship, now’s the time to change that. Talking about money and your financial future can not only help give you security down the road, but it can also help prevent relationship-damaging surprises. 

Here are 5 conversations to get you started: 

1. Share Your Financial Situation

Think financial disclosure is just for prenups and people with loads of assets? Think again.

Being open about your finances—like income sources, debts, or past bankruptcies—sets a solid foundation for your future together.

2. Align Your Financial Goals

What are your financial goals, both short-term and long-term?

Take some time for you and your partner to jot down your goals. Compare lists, spot the overlaps, and find places to compromise. This exercise helps you understand each other better and sets the tone for an open dialogue around money in the future. 

3. Map Out Your Financial Future

How do you envision managing money as a team? Discuss:

• Whether to combine finances
• How to split bills
• How to handle major purchases (house, car, etc.)
• Savings and investment plans
• Contributions to an emergency fund

4. Schedule Regular Money Dates

Consistency is key. Set a regular date to discuss your finances—maybe follow up with a coffee date or a walk in the park. 

5. Update Everything

Getting married comes with many exciting changes, including some necessary paperwork. Here are some things you may need to update: 

• Insurance policies (health, auto, home, life)
• Wills and beneficiaries
• Social Security records
• Driver’s license and passport
• Bank and financial accounts
• Employer and payroll information
• Utilities and service providers
• Post office address
• Medical records
• Subscription services and memberships
• Digital accounts (email, social media, shopping sites)

It may not be necessary to update all of these, especially if you’re not changing your name or moving, but stay on top of any that apply to your situation. Staying organized and proactive with these updates will help you start this new chapter without any unnecessary stress.