Relationships: Let’s talk about money, baby

If both partners are open about their financial abilities, it’s easier to share expenses more fairly. Photo: dpa

It's never fun to talk about money, and especially in the early phase of a relationship, we tend to let it go.

But let’s face it, money will always become an issue sooner or later, and finance experts say you’re well advised to address red flags sooner rather than later.

Here’s what you should look out for:

1. They never talk about money

It’s important to openly discuss money in a relationship, to foster trust and a healthy basis, says psychologist and finance coach Monika Muller. It’s also important to find out whether your financial attitudes align, according to the expert.

Once you notice that your partner is constantly avoiding the topic, you should probe them carefully why that is. It’s important to keep an open mind, though, as people don’t like to talk about money for any number of reasons.

2. They don’t know their own finances

If your partner spends money on end but doesn’t have a clue how much, that’s another red flag. This could result in unpaid bills and debt piling up, which will also affect you if you share a household, the experts says.

Saving up for your future together or for emergencies will also be tricker.

3. They never pay the bill

Taking someone out for dinner or to a movie shows that you care for them. But if it’s always the same person who pays the bill, going out can quickly turn into a source of frustration.

If both partners are open about their financial abilities, it’s easier to share expenses more fairly, the experts say.

4. They still get money from their parents

If your working partner still receives financial support from his parents or other relatives, this could be a sign that they haven’t learned how to deal with money. Or that they simply enjoy getting that extra financial boost.

As long as they are open to change when you point it out, this issue won’t cause too much of a problem, however.

5. They keep secrets

Finding out that your partner is keeping a bank account that you didn’t know about or buying expensive things behind your back can be a setback for a relationship.

It’s always best to bring it up right away if you suspect something is going on behind your back, to keep your trust in them. – dpa