Are You a Good Money Match?

February is here and with it comes that inevitable mid-month holiday: St. Valentine’s Day. Before dreaming about flowers or that romantic candlelit dinner, spend some time thinking about where you and your honey stand--financially-speaking of course. Are you on the same page when it comes to money, or are you moving in opposite directions?

Yesterday’s quiz focused on your money personality and how to be a better financial partner. Today, find out if you and your honey are ideal money mates. When you’re done, pass this quiz on to your other half to compare answers. 

Do you always tell your partner how much money you spend on purchases?
a)    Yes, unless it’s a gift for them.
b)    Usually, unless I know they would disapprove.
c)    No, we keep our finances separate.

How often do the two of you sit down to discuss money matters?
a)    At least once or twice a month.
b)    Only occasionally.
c)    Never.

Do you both work from the same budget?
a)    Yes, we have a common budget that we both try to stick to.
b)    Only one or neither of us keeps the budget.
c)    We do not share a budget but rather keep our finances separate.

Do you and your partner discuss major financial decisions before making them?
a)    Yes, we both have an equal say in money matters.
b)    No, one of us makes most of the financial decisions.
c)    We keep our finances separate and make decisions independently of each other.

_____________________________________________________________

Answer Key

Money Match (mostly A’s)

As a couple, you are two peas in a pod when it comes to money matters. You and your partner have great communication about finances. You are open with each other and confront money decisions as a team. While you may divvy up individual financial tasks like bill paying and record keeping, you share an equal say in how your money should be spent, saved, and invested. Keep up the good work!

Money Misfits (mostly B’s)

As a couple, you are financially imbalanced. Sneaking purchases, avoiding talking about money, or leaving all the financial tasks to one partner is not doing any favors for your relationship. Lack of communication, especially about finances, is the reason behind all too many break-ups. If you and your honey are serious, take the time and make the effort to come clean about your spending habits and work as a team to build a budget and define your goals. 

Single-Minded (mostly C’s)

As a couple, you may as well still be single, financially speaking. You and your partner don’t talk about money matters, which is okay if you’re just starting out or not very serious. Maybe you keep all of your accounts separate or just prefer your financial autonomy. But if you decide to move in together, get married, or have children, you should be on the same financial page. Sit down together at least once a month to discuss bills, your financial goals, and any major purchases you’re considering.