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10 Financial Questions to Ask Someone You’re Dating

LISTEN TO SAFE 1 TALK WITH THE MONEYWISE GUYS ON THIS TOPIC!

Getting to know someone on a date involves the discovery of several important items such as mutual attraction, common interests, compatibility, etc. One important, fundamental aspect often overlooked, however, involves that of financial congruence.

Keep in mind, asking for a copy of a 1099 or pay stub on a first date is probably not the best way to start a relationship, however, learning about a potential partner’s attitude towards money and finance is definitely important moving forward.

With this is mind, here are ten questions to ask someone you’re dating.

1. Do You Have a Budget?

• While discussing a budget is probably not something you would want to do on a first date, if you are seriously interested in someone then a conversation about money management styles is a must!
• Let’s face it, if you’re an “ultra-conservative” who likes to operate on a strict budget, then partnering with a “risk-taker” who lacks patience and long-term security is probably not the person for you.
• Similarly, if you’re a goal-oriented “striver” who constantly looks for ways to improve your financial standing, then you may find yourself at odds with an “over-giver” who gives to others while neglecting his or her own financial needs.
• The bottom line is you need to make sure you and your potential long-term mate share similar views when it comes to paying bills and budgeting, especially if you envision co-mingling funds.

2. What Do You Like to Spend Your “Fun” Money On?

• Finding out how someone likes to spend his or her disposable income can do much to reveal similarities, differences and overall compatibility with the person.
• For instance, someone who likes to spend money on frivolous items without much planning may reveal himself or herself to be a random spender who does so in a compulsive manner.
• By contrast, people who budget carefully to purchase specific “fun” items tend to be more frugal, methodical and budget-conscious.
• There is no right or wrong answer on how to be with your “fun” money, but what is important is to have a partner in which you are financially compatible, especially when it comes to agreeing on how you will save and spend money.

3. What Did You Learn About Money and Credit Growing Up?

• Research has shown the main way people handle their finances stems from what they learned from their parents and/or guardians growing up.
• That is, people follow what they have seen.
• So, if someone watched his or her parents and/or guardians over-spend, struggle with finances, or purchase frivolously, then chances are he or she will do the same.
• Another important factor impacting people’s attitudes towards money and finances involves personal experiences.
• For example, if someone experienced financial uncertainty earlier in life then it could result in financial anxiety or frugal habits.
• As such, asking a date what he or she has learned about finances could give you a glimpse into his or her financial background as well as views on saving and spending.

4. Do You Have an Emergency Fund?

• While establishing an emergency fund for an uncertain future is generally regarded as something all of us should do, very few actually do.
• For this reason, it is important to find out your potential new partner’s attitude and practice of having an emergency fund.
• Indeed, finding out whether or not a date has a bit of money set aside can give you insight into his or her ability to prepare for the unexpected.
• Ultimately, if you get into a serious relationship, unexpected expenses are almost inevitable so it’s definitely worth knowing if you’ll be able to rely on each other to get through financial storms.
• Also understand when it comes to savings, everyone has to start somewhere.
• So, if your date has not started an emergency fund, teaching him or her to set money aside for an emergency can go a long way in preparing for an uncertain future.

5. What are Your Short-Term and Long-Term Financial Goals?

• As previously noted, asking someone for his or her 1099 or pay stub early in a relationship can certainly be a deal killer!
• However, general conversation about financial goals could indicate if someone is serious about future achievements or simply “winging it” through life.
• In addition, sharing your financial goals will do much to help determine compatibility and, more importantly, whether this potential partner will help you get there.

6. What Was the Last Exciting Purchase You Made?

• In a lot of ways, this question can be disguised not only for its financial implications but to also help you find out about your date’s values and what is important to him or her.
• If the conversation is going well, you can also inquire about how the purchase was made and how long it took to save for it.
• Doing so allows for insight into whether this individual utilizes credit, saves for purchases, or practices a combination of the two.

7. Do You Invest?

• Obviously, talking about money can be a sensitive topic so sometimes it is best to bring up your experiences as a way of inviting conversation.
• Talking about your investments and experiences with saving for retirement, college planning, etc., is a perfect example of this.
• Doing this may assist in learning about your date’s risk tolerance and investment habits as well as provide the opportunity to learn more.
• You may find the two of you have very similar or very diverse strategies.

8. Do You Track Your Credit Score?

• Discussion about someone’s credit score is definitely not a conversation to have on a first date, or even the first few dates for that matter.
• Nonetheless, if someone knows his or her credit score – or at least has a ballpark estimate – then it shows in the very least he or she understands its importance.
• While it is true someone else’s credit score does not affect yours, let’s hypothetically say you end up in a long-term relationship with your date and even take it to a higher level.
• In the event the two of you were to apply for loan, his or her credit score could impact not only the lending decision itself but also the accompanying rate.
• So, as with other financial questions to ask your date, a credit score can help determine your compatibility with a potential partner.

9. What Tools Do You Use to Manage Your Money?

• Asking someone what tools he or she uses to manage money may help you determine your compatibility with that person.
• For instance, a person who uses a spreadsheet or software program to manage finances exhibits a little more sophistication than someone who uses nothing at all.
• And, in the very least, the types of tools a person uses to manage his or her money helps to illustrate the importance he or she places on the subject.
• From there, you can determine if you place the same level of importance.

10. Do You Listen to Any Podcasts or Read Books About Money?

• Though not as important as some other financial questions to ask a potential mate, the response received may indicate the importance placed upon financial planning.
• Asking this question, simply provides an opportunity to share some of the resources utilized on your financial journey as well as learn of some others

At the end of the day, there are many things you need to learn about a potential partner prior to moving forward in a relationship with him or her. Undoubtedly, understanding how he or she handles finances is an important aspect to this. If you like the answers you are getting, then moving forward is much easier. However, if don’t like what you hear and move forward anyway, you have no one to blame but yourself.

Source: https://www.experian.com/blogs/ask-experian/questions-to-ask-your-date-about-money/