Have you had the ‘money talk’ with your future spouse? Here are the questions to ask

Wedding season is upon us

The biggest issue with marriages is money -- or the lack thereof.

The biggest issue with marriages is money -- or the lack thereof.

There are some questions you need to ask your future spouse before you tie the knot.

Your first money conversation should not be about wedding costs.

Here are the topics you should talk about:

  • Talk about dreams and goals.
  • Do you want children?
  • Where do you want to live?
  • What kind of home do you want to live in?
  • What can you afford?
  • What is your money personality? Learn if your future spouse is a spender or a saver.
  • Know how much each of you makes and decide how much you want to sve.
  • Agree on money management. Who will pay the bills?
  • How much independent spending can you live with?
  • Know each others debt position and credit score.
  • Are you big on safety or taking risks? Day trading or passbook savings?
  • Do you need a prenuptial agreement?

Read: More Money Minute coverage

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About the Author:

Rod Meloni is an Emmy Award-winning Business Editor on Local 4 News and a Certified Financial Planner™ Professional.