5 Crucial Financial Questions You Should Be Asking Your Partner Before Marriage
Do you have more deal breakers than you do deal makers when it comes to your relationships?
We often talk about dating potential, but for many of us, we substitute red flags early on for hope that falls into the should've/would've/could'ves, ultimately leading to larger issues that are detrimental to the relationship in the long run. While some factors contribute to us turning a blind eye, like clinginess, regular communication with an ex, and a combative attitude, other things are considered definitive turn-offs when it comes to dating. We get into the nitty-gritty when it comes to sex, as it's one of the most named determinants that turn both men and women off when not done right, but what about something we all have to deal with, but don't like to delve too much into?
Money.
In a new report, GOBankingRates administered a Google Consumer Survey for all 50 states and Washington D.C. where adults were asked to choose their biggest financial deal breaker. Categorized into six divisions–one party doesn't bring into sufficient income, overspending, poor credit, being secretive about finances, one party being too cheap, and having excessive debt. The results?
Residents in half of the states said that overspending would be their biggest deal breaker. This answer is followed by being secretive about finances, which residents of 19 states and the District chose as a top deal breaker, and too much debt, which was selected as the biggest deal breaker in 12 states. Lastly, for residents of just one state (New Hampshire), poor credit is the biggest financial red flag in a relationship.
In states where residents live paycheck-to-paycheck (Hawaii, California, and New York make the top 3), it's easy to see why a partner who overspends is noted as the top financial deal breaker, whereas states like Kansas, Mississippi, and New Jersey where residents are faced with the highest rates of poverty, have the lowest levels of financial knowledge, the largest credit card debts, and the highest rates of households that live beyond their means, avoid getting into a relationship where the person has too much debt to handle.
If you don't believe these things aren't of any significance in a relationship, guess again, with research showing disputes over finances oftentimes lead to breakups and divorce.
Sonya Britt, a Kansas State University researcher concluded that “arguments about money [are] by far the top predictor of divorce. It is not children, sex, in-laws, or anything else. It's money–for both men and women." That comes as a surprise to me, but money is so much of a big deal in relationships, that financial infidelity is actually a term used to describe couples who aren't forthright about their finances.
Time reports that 22% of husbands and wives have made purchases they didn't want their partner to know about; 35% of those who hid purchases kept quiet to avoid a lecture, and CreditCards.com conducted a survey that found 1 in 5 couples commit financial infidelity, with 6% of Americans (or 7 million out of 120) have a secret bank account or credit card that their spouse or partner isn't aware of. Out of those surveyed, here's what was found:
That number is heavily skewed toward men, with 26% of males reporting a hidden major purchase compared with only 14% of females. But it's not necessarily because men are more dishonest. A previous study showed they're simply more likely to make large impulse purchases than women, meaning guys may just be a little more freer with funds...a surprisingly high number of men–31%–are okay with their partners dropping more than half a grand without notice. Only 18% of women said the same.
Over the course of 11 years in my relationship, I can easily say disagreements on finances have been the most challenging, with me struggling with student loan debt, garnishment of my work wages and income taxes, to say the very least. Every little dime counts and having to scrape pennies together to make ends meet, while being involved with a man who wasn't the breadwinner, definitely added to an insurmountable level of stress in my home.
Sharon Gilchrest O'Neill, author of A Short Guide to a Happy Marriage, suggests something I wish I would have asked at the very beginning–or at least something my partner should have asked me–in order to ensure we were on the same wavelength when it came to money before life coached us in the right direction.
Crucial Questions To Ask A Potential Partner Before Marriage:
- What kind and amount of debt would each partner carry into the relationship?
- How will the debt be dealt with as legal partners?
- Once you are partners in finance, what are your positions regarding how much debt is acceptable?
- How many credit cards do you have in use?
- Will you pool all your money together or have any separate accounts? What amount of savings do you each regard as acceptable?
There's even a financial compatibility test you should take to determine if you and your significant other are a money match. Living a financially double life affects both of parties. In an article for The Guardian, one writer accurately states what all couples should be asking before choosing to settle down.
You may need to decide if you can live with your partner's bad habits or not. Living with secrets, however, is another matter altogether...When you decide that you're going to combine your lives, talk openly about what it means to combine your finances.
Don Grant, a financial advisor at Carey, Thomas, Hoover & Breault Investments, goes on to say that he believes “a reason that these problems arise is that for so many years, we are independent and make our own money decisions," making it “hard for many of us to acknowledge that anyone else has a right to a say over that."
I wanted to pick the brains of three women to get their thoughts on how just how important are finances to them, how it affects their personal relationships and financial deal breakers. Check out their thoughts below.
I believe the right time to discuss finances and credit with your significant other is when you two start talking about moving in together, having children or getting married. It's incredibly important for me to know my significant other knows how to effectively manage his money now. But when he and I got together (I was 21, he was 19), I wasn't that smart. I wasn't thinking about anything like that. I was more concerned with who I had the most fun with, who made me laugh, who was good in bed, etc. We have both grown and made money management a priority, but only after suffering and making so many mistakes over the years. If I were single now, I wouldn't get serious with someone who refused to be candid with me about overspending, poor credit, or debt. Communication and growth are just way too important to me and if we can't know honestly where each other is financially, then how are we going to grow together? So, dishonesty and repeated recklessness are financial deal breakers for me. We all make mistakes, but making no effort to grow is a deal breaker. -
I had a bank account; he didn't. We kept a small hat and when he got a paycheck, in the hat it went. When I got mine, same deal. It was always our money. If I needed something, I would let him know and vice versa. We were very open about how much we made and if I found an extra dollar somewhere, it was ours.
I'm not sure how we got to that point, but we were always very open with everything else, so money was just another thing. He was nervous about getting a bank account because it was so easy to click opposed to actually getting the money out of your wallet and handing it over. This method helped us prioritize and I'm a frugal at heart, so I was glad with that decision. I still had my bank account, but we would literally put enough to pay bills once a month and let it rock with a minimum balance until the next cycle of bills.- GG Renee Hill
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Last summer I left my job and we were back to the broke pair. My bank account was nil and the money we did get from his job was just enough for survival–nothing else. It was rough because our relationship suffered. I blamed him for not being man enough to sustain his family; he blamed me for the same. It was hard to see ourselves growing apart, but we understood that money was the issue.
We knew what had to be done, but had no way to fix it. We couldn't have conversations about it because it was that hard not to point the blame. Eventually when I started working again, in December, we had the sit down. I told him we needed our financial life together and I was recently reading articles about it being possible. He told me he just wants to save–saving for us to build our credit and saving for us to create a bed for Ryder. I watched my parents lose a lot without good credit and I barely made it into my apartment because of it and I needed that to change. We're on a road to financial recovery with a method of saving.
What was really important for us to keep in mind was that we needed to be on the same page. It is always a team effort and even when one is making more than the other, it's crucial to remember that teams win- solo acts don't. If we work together, we can learn how to build our finances together.- Stella
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My husband and I met in college. We were both poor and both eagerly anticipating finishing school, graduate study and beginning our careers. The first few years, money was never discussed and when we moved in together, we realized that we should have been talking about it all along. I lucked out with him because when we began discussing finances, my husband was very knowledgable about credit and mortgages and basic household finances. Since my father was a CPA, I would call on him to give us basic advice about beginning to save and what steps we should be taking as young professionals, but I only asked for advice–I never disclosed details about the money in my home (never do that, keep your business in your house).
However, it was not always easy. Student loan debt, credit card debt from having to have a dream wedding, first job salaries, bills, all make saving extremely difficult, but it makes it easier when you marry a man who can be honest about his finances. We decided to have a joint savings account and separate checking accounts and thus far, money is never a concern because we contribute what we are supposed to and pay bills as a unit. If I could do it all over again, I would have discussed saving and financial goals from day one because not everyone is blessed enough to avoid that conversation and still work out.- Brittany
How do you approach the conversation on credit and what are some of your own financial deal breakers? Weigh in in the comment section below!
ItGirl 100 Honors Black Women Who Create Culture & Put On For Their Cities
As they say, create the change you want to see in this world, besties. That’s why xoNecole linked up with Hyundai for the inaugural ItGirl 100 List, a celebration of 100 Genzennial women who aren’t afraid to pull up their own seats to the table. Across regions and industries, these women embody the essence of discovering self-value through purpose, honey! They're fierce, they’re ultra-creative, and we know they make their cities proud.
VIEW THE FULL ITGIRL 100 LIST HERE.
Don’t forget to also check out the ItGirl Directory, featuring 50 Black-woman-owned marketing and branding agencies, photographers and videographers, publicists, and more.
THE ITGIRL MEMO
I. An ItGirl puts on for her city and masters her self-worth through purpose.
II. An ItGirl celebrates all the things that make her unique.
III. An ItGirl empowers others to become the best versions of themselves.
IV. An ItGirl leads by example, inspiring others through her actions and integrity.
V. An ItGirl paves the way for authenticity and diversity in all aspects of life.
VI. An ItGirl uses the power of her voice to advocate for positive change in the world.
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Not too long ago, while in an interview, someone asked me for a top complaint that I hear husbands say (first) and then wives state (second) as it relates to what goes down (or doesn’t go down) in the bedroom.
Ladies first: when it comes to women, I think what comes up more than anything might surprise some: it’s boredom. A lot of wives want there to be more spontaneity instead of taking the “If it ain’t broke, don’t fix it” approach from their partner. As for men? I mean, would anyone be shocked to hear that they wished their wife would initiate sex more often?
I’m telling you, over frequency, technique, and even dressing up more for bed (and yes, those things also come up quite a bit), hands down, what I hear that more men want is for their partner to show them that they are desired by taking the initial steps to make copulation happen…more often.
And so, since I’m all about doing whatever I can to reduce dissatisfaction and frustration in the bedroom department, let’s explore this very topic today — from a few angles. For starters, what it truly means to be a sexual initiator; two, why it’s so vitally important to be a sexual initiator, and three, why it could literally change the entire tone, energy, and outcome of your sex life with your partner — if you’d simply be open to initiating sex more often than you (probably already) do.
What It Means to Initiate Something. LITERALLY.
Giphy
I’m word-literal — there’s no secret about that. So, when it comes to the topic of initiating sex, let’s start with what the word means. To initiate is “to begin, set going, or originate” and “to introduce into the knowledge of some art or subject.” Some synonyms for initiate include begin, open, set up, trigger, admit, introduce, and invest. And when it comes to all of the meanings of these words, between men and women, when it comes to sex specifically, guess who does it more? Men. BY A LONG SHOT TOO: a whopping 60 percent.
When it comes to why a lot of women are so comfortable with men initiating intimacy, many think that, just like men should pursue them for a relationship, it is also “the man’s role” to pursue sex in the bedroom; they literally think that it makes them look desperate or needy for them to be the initiator — yes, even as a wife. What in the world?
Listen, when two people sign up to be each other’s exclusive sex partner until death parts them, it means they are both saying that they desire each other so much that they are willing to make that kind of commitment — and so, there should be no “I don’t want to appear this way or that” when it comes to sexual activity.
So, with all of that ridiculous overthinking out of the way, that should make you want to “set up” some sex plans, “admit” to some sexual fantasies that you may have, and “introduce” some new ideas to your partner; especially since that’s exactly what so many men wish that their lady would do, to begin with.
So, with all of this said, if you’re someone who is hung up on not initiating, first spend some time really processing what the word means. Because when two people are eager to begin sex and invest in each other sexually, that is the recipe for a truly satisfying experience…over and over and over again.
C’mon. Who Doesn’t Want to Feel Wanted?
GiphyI remember once reading an article that said our brain processes rejection the same way that it does physical pain, and y’all, I don’t know about you, but if something is physically hurting me, my natural inclination is to get away from it. Along these lines, when it comes to relationships since research has proven that rejection can lead to things like jealousy, shame, anxiety, loneliness, and guilt — yes, it makes all of the common sense in the world that you would want to do all that you can to make your partner feel wanted…both in and outside of the bedroom because, just like no one wants to deal with physical pain, no one wants to keep dealing with rejection and all of the fallout that comes with it…either.
Actually, when it comes to this particular point, I think that an article that I once read on Psychology Today’s site said it best: “Not only does being needed help define your role in a relationship, but being needed can also influence how satisfied you feel in a relationship.” And before some of you say that “sex is not a need” — the hell you say? I mean, the only purpose of your clitoris is to provide sexual stimulation, so that alone should make us all deem sex (and sexual fulfillment) as pretty damn important.
Plus, by definition, a need is something that is deemed as being essential while also being something that is extremely necessary, and anyone who thinks that a romantic relationship doesn’t need physical intimacy? That’s someone who really needs to remain single because one of the top things that makes a relationship more than a friendship is there is intimacy that’s involved.
Besides, who doesn’t want to feel wanted by their partner — and I do mean, in every way? And when you make the decision to be in an exclusive relationship with someone else, you are declaring that they are someone who pleases you to the point where you don’t need to look for anyone else to do it; and, if that is indeed what you are saying, it doesn’t make sense that you wouldn’t initiate sex with them sometimes (and I do mean more than on their birthday).
One, because you choose them to “fill that role.” Two, because they are the source of your fulfillment in that area. Three, because it’s completely unfair (not to mention totally hypocritical) to expect them to make you feel wanted when you’re not being intentional about making them feel the same way in return. Not to mention the fact that initiating also helps to safeguard your relationship on a lot of levels too.
Since sex is important and rejection is detrimental on so many levels, it’s crucial to make your partner feel sexually wanted and desired by you. One way to definitely do that is to initiate sex.
What Initiating Sex Does for You
GiphySo, what does initiating sex do for the initiator? Something that I tell a lot of my women clients is it helps them to create an atmosphere that puts them in the mood. What I mean by that is, if their husband is perfectly content having sex on the couch during commercials (I’m kind of exaggerating to make a point…kind of…LOL) while they would like some candles, mood music, and rose petals — they can control that if they are the one who initiates.
Another perk that comes with being the initiator is you have more “control” over how the sex goes. The kind of foreplay you want, how fast or slow things go, how intercourse begins — all of this, you have more of a say so in if you’re the one who is initiating intimacy. Why? Well, think about when your bae initiates — doesn’t it seem like you tend to follow his lead more when he’s the one who is first to get the ball rolling?
Oftentimes, when a couple comes to me about being sexually dissatisfied, and I recommend that the one who doesn’t initiate takes more initiative, the one on the receiving end likes the fact that their partner is “running the show” — and the initiator likes “being in charge” more than they thought that they would. As a result, both end up experiencing far more pleasure.
The initiator shows what they want more of while the receiver feels desired in the process. A win/win for everyone.
What Initiating Sex Does for Him
sexy black and white GIFGiphyA couple of weeks ago, while in a session with a client, he was joking about how much he has “too much of a good thing” when it comes to his wife’s libido. Although science says that the fact that men have a higher amount of testosterone in their system, and it is the reason why they typically have a higher sex drive, don’t sleep on a lot of women out there who want to get it in more than their husband does. His wife is one of them. Since she’s a client of mine too (oftentimes, we do our sessions separately), it’s interesting that he’s fine with having sex a couple of times a month while she would like to a couple of times a week.
So, is he denying her when she wants it more often? Nope. The reason why they’re not having more sex is that even though her drive is higher, she still waits for him to initiate. Why? Because she thinks that’s what “the man should do”; not only that but “being wooed” turns her on more.
As I’ve been working on helping them to find a middle ground (because if marriage ain’t about compromise, I don’t know what is), he says that he feels like because he plans a lot of the dates, he wishes that she would initiate more: “I don’t think a lot of women get how hard it is to be a Black man out here. Nothing feels better than knowing that if no one else is thrilled by your presence, your woman is. For us, initiating isn’t just about sex. It’s about feeling wanted as a whole. And when we feel like our woman adores us, there is no greater turn-on.”
I’m not sure what y’all heard, but what it sounds like to me is when we, as women, initiate sex, men feel holistically special and cherished. That makes sense, too, because if we were to put our feet in their shoes, we would probably say the same thing. That’s just one more reason to pull the “gender roles” out of this topic; men and women both want to feel like they are the best thing on the planet by their sex partners. And again, initiating helps us all to feel that way.
What Initiating Ultimately Does for Your Relationship As a Whole
Issa Rae Love GIF by Insecure on HBOGiphyPersonally, I can only imagine how much better sex would be for everyone (who is in a sexual relationship) if people simply initiated copulation whenever they wanted to have it. That way, everyone would feel desired — and what could possibly be wrong with that? Especially if both individuals factored in some of the definitions for initiated that I already shared. Just think about if you rushed home tonight because you read about something that you want to introduce to your man or there’s a fantasy that you have that you want to admit.
The mere conversations alone will help to bring the two of you closer together because, after all, deep intimacy is about minds, bodies, and spirits getting as close as possible…right? And so, yes, by initiating sex, it can bring more closeness and stability to the relationship as a whole.
And what if you initiate and your partner isn’t interested at the time? Or what if you’re shy about initiating due to having a fear of rejection? That’s a fair and legitimate concern. One day, I’ll need to pen an article on how couples should handle situations like that with grace (on both ends) while applying the golden rule of “doing unto others as you would have them do unto you.” For now, I’ll just say that if this is your greatest point of concern, share that with your partner as well.
After all, it’s pretty unrealistic to expect them to always want it when you do (although it’s been my experience and observation that men are almost always far easier to convince…LOL); just know that not wanting sex at the exact moment that you do doesn’t mean that they don’t want you altogether. Besides, oftentimes, a nap or a night of sleep can rectify that issue. Trust me.
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Rihanna was actually once quoted as saying, “To me, sex is power. It’s empowering to do it because you want to do it.” I personally think that’s a great way to bring this to a close. Make your partner feel wonderful, empower yourself, and strengthen your relationship by initiating sex more often. I can’t think of one reason why it’s not a wise move. Can you?
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