Having Financial Transparency

Based upon culture's movies and literature about romance and love, they never touch on one of life's most important factors; money.

The characters talk about if they truly love each other, concerns about families liking them, and many other considerations but rarely do they discuss personal finance.

It is essential for any relationship that both of you talk in detail and in depth about your own personal financial situation and goals.

Here are 4 key topics that you need to be prepared to discuss with your partner if both of you are looking to move to the next stage of life together. 1. Debt

Although it can never feel good to showcase failings or weaknesses, debt isn't that. You used debt or relevant financial tools to move forward with life such as transport, education, or maybe even housing.

It is essential to share these details because if you two move forward together then it becomes both of both of your debt and therefore both of you are responsibility to repay it.

Just be prepared to share also the story behind the debt, that will give reasoning and a human element behind this scary number.

2. Cash Flow Sharing your income details might be something that is close to heart and something you want to keep private as it is personal.

But if you are going to share all aspects of your life with somebody like your passions and living space, sharing your income is just as important. It is the main way that you contribute financially to the relationship which means that it is directly connected to the type of life you can actually have and not what you want to have.

Without discussing this means that you are missing out the main way that both of you can reach your goals and reduce your debt.

Please don't get defensive about this number, understand why you want to share this and why it is important to do so.

3. Budget / Spending

Now things actually might get a bit personal as you need to share how you spend this money.

It is not about giving up control to another person who will tell you how to use the money, it is about being accountable and responsible to your partner so that each of you are working towards your goals.

Imagine if it was about health, wouldn't you care about that your partner is practising responsible eating habits and got a workout routine so that they are staying healthy and fit. The same principle applies here. It comes from a place of caring and love that you are both asking and sharing.

4. Savings / Investments The last aspect is the Saving / Investments.

Savings showcases the maturity to prepare for both the worst and for short term financial goals whereas Investments look to prepare for long term financial goals.

Having the appropriate amount of savings and an investment plan means that both of you are not just looking to tomorrow but also planning to the larger goals of life. A Home, A Family, And A Enjoyable Retirement.

By having this conversation and a plan coming out of the conversation, it shows that your relationship is ready and concrete to move to the next stage.

I hope by addressing these 4 key areas of personal finance means that you are both better prepared for a more meaningful life together.