While Americans love to delve deep into the wealth and success of the rich and famous, personal finances remain — strangely, and on a personal level — a taboo topic for many. People guard their salaries like state secrets, and money problems are, according to many surveys, the No. 1 reason couples argue. That’s because “we’re often coming from very different financial backgrounds,” says certified financial planner Sophia Bera, founder of millennial-focused financial advisory firm Gen Y Planning.
As romantic relationships grow, it’s important to discuss money, because it impacts many of the life events couples will share, from engagements to home purchases. “All of these have financial implications,” she says.
Thinking about moving in with your other half (new or not)? Some things to ask about should include his or her:
- Credit score
- Retirement savings
- Emergency funds