Cheryl Sherrard, CFP was quoted recently in a Learnvest article by Meghan Rabbitt, entitled, “Just Dating? 3 Money Topics to Discuss before you get Serious”.
Dating discussion #1 included talking about your family money histories.
For instance, if he grew up with no money, he may have an inordinate fear of never having enough. On the flip side, if his parents always forked over cash, he may have never learned to delay gratification, says Cheryl Sherrard, a Certified Financial Planner™ (CFP®) and director of financial planning for Clearview Wealth Management in Charlotte, N.C.
Knowing what shaped his views can help you compare his experiences to your own and see where your differences may lie. “I think people tend to assume that everyone else will deal with money the same way they do, and don’t think about the fact that money—or the lack thereof—can carry huge emotional ties as well,” Sherrard says.
Dating discussion #2 focused on your Debt Situation.
Debt can be a squirm-inducing, four-letter word in the realm of dating. But it ranks high on the list of important money conversations to have if you’re thinking of taking a major next step together. After all, the more tied together your finances become, the more your debt burdens become each other’s problems.
“I’ve seen people who’ve made assumptions [about their partner’s spending], and then a couple years in, they were horrified at how this person was running up debt,” says Sherrard. “You don’t want to be in for a shock later, so a little bit of discomfort when dating can go a long way [later in the relationship].”
Dating Discussion #3 focused on Long Term Money Goals.
If you care about someone, naturally you want to know what hopes and dreams he envisions for himself—and that should include financial goals, too.
If you want to read the article in its entirety, click here.