10 Times It's A *Good* Idea To Discuss Money With Him!

As a couple, the awkward money talk is easy to avoid. It always seems to be a minor issue that can be dealt with later. Right? Wrong. If you are in a serious relationship, there are certain situations when you should be discussing finances with your guy. To make things slightly easier, here’s a list of times you need to talk to your boyfriend about money... 

1. Before getting deeply involved with each other

No, we’re not saying bring it up on your first date. Find a suitable time and day when you feel your relationship has reached the ‘serious stage’. You wouldn’t want to find out your partner is in student debt the hard way, would you? He wouldn’t either. A debt is not a deal breaker, but to avoid unpleasant surprises, both of you should be aware about each other’s financial situation. 

2. While planning a holiday together

Say you are planning a vacation to…Goa. What if he doesn’t have enough funds at the moment? Or what if one of you is studying and only one of you is earning? Who would contribute how much? There can be various situations and the only solution is to talk about it and figure out what works best for the both of you. 

3. When buying something which calls for a significant investment

Like if you’re considering buying a two-wheeler. It’s not about asking him for permission, it’s about discussing the investment so that both of you are on the same page. Also, this way you’ll get another opinion and will be able to make a better decision. You guys will also be better able to plan your expenses together considering cash flow might be down a bit for you! 

4. When planning for your future as a couple

If you are at that stage, then you have to talk about the money matters. How much will each of you contribute to the household expenses? Do you two need a joint account? How are you going to finance your joint lifestyle? It is a good idea to discuss all of this rather than being confused about the whole situation later! 

5. If and when you plan to move in together

Sharing the same house means sharing all the expenses and responsibilities. Money, if not discussed properly, leads to unnecessary bickering and a lot of hard feelings. So it’s best to work out a system to keep track of who is spending how much. 

6. When taking a loan

If the need arises for either of you to take a loan or borrow money, it is always wise to talk about it with each other before approaching a third party. If you plan to stick together, then chances are that repaying the loan would become a responsibility for the both of you. So talk to him before you take any such step and make sure he does the same. 

7. When laying down your saving strategies for the long run

Take into account your monthly expenses and how much can each of you afford to save. Accordingly, discuss your saving strategies in terms of the FDs or RDs you want to initiate or the mutual funds you may want to invest in. Taking him into confidence will help you both sail through rough waters smoothly. 

8. When one of you feels the other is going overboard spending

This one is a tricky situation. But it’s better to deal with it than have a volcano of complaints explode in the future. If you feel he is going overboard, talk to him about it. And if he comes to you with the same concern, listen to him patiently and see what you can do to balance the scales. 

9. When one of you is planning to take a sabbatical or switch jobs

Both would mean a temporary disruption in the financial balance you’ve created. If you are planning to take a break or switch jobs, have a chat with him well before you actually do so. And make sure he does the same too. This way you can sit together and work out a plan to manage expenses for that period. 

10. When wedding bells start ringing

A wedding is a HUGE expense, for both you and your parents. Although a lot of the money might be managed by your parents, it is a good idea to take the lead in this discussion. Propose to divide the expenses equally so that neither family is burdened. And, finally, the inevitable talk - how are you two going to manage your daily expenses once you’ve sealed the deal!