We all know the infamous love story: Boy meets girl. They fall in love. They get married. Then, the girl finds out the boy has tens of thousands of dollars in student loan debt. The bills start piling up, they’re working all the time, and before they know it, the fights begin. If money issues go unresolved, the story may end in heartbreak or divorce. So, is there a way to avoid such a mess?
According to Dr. Sonya Britt, assistant professor of Family Studies and Human Services at Kansas State University, “Arguments about money are by far the top predictor of divorce. It’s not children, sex, in-laws, or anything else—it’s money for both men and women.” That means financial transparency isn’t just about being responsible but protecting your relationship.
How to keep finances from ruining your relationship
Start the conversation early
Talking about finances while dating might not be romantic, but it can be the key to a healthy and lasting relationship. Before things get serious, start with light conversations about how money was valued in your family growing up. Then, as your relationship progresses, begin asking deeper questions:
- What are your long-term goals for becoming debt-free?
- What standard of living do you expect, and will your current income and debts support that?
- What’s your plan for retirement, and how do you envision your financial future?
At first, these conversations might feel awkward, but over time, they’ll become second nature—and essential to building a strong financial partnership.
Create a budget together
Once you’re committed, it’s time to budget like a team. Start by discussing the debts you both bring into the relationship (car payments, student loans, credit cards) and make a plan to pay them off. Avoid taking on new debt when possible, and set financial goals together, whether it’s saving for a house, a vacation, or future kids.
A financial counselor at your local credit union (like us at WRCU!) can help you navigate financial challenges, offering solutions to keep you both on a solid path toward financial well-being.
Honest conversations now = fewer fights later
Let’s be real—talking about money isn’t always fun. We’ve all made mistakes, and it can be tough to own up to them. But avoiding financial discussions won’t make the issues disappear. Couples who are open and honest about their financial expectations early on save themselves years of stress, arguments, and even potential breakups.
White River Credit Union is always here to help. At the end of the day, love isn’t just about flowers and date nights—it’s also about tackling life’s challenges together. Talk to one another about your financial goals, dreams, and concerns. Your relationship truly depends on it.
