Do you communicate with your spouse or partner?

Listening to the radio today I heard that a good chunk of couples don't know how much the other person makes. Another good percentage don't know each others income until they buy a house. Lastly, a few don't know each others income until they have a baby. * I don't have the article on this so you'll have to believe me when I say I heard it on the radio (96.9fm in Vancouver BC).

Aside from being shocked that no one talks about money at the dinner table... I think it is more shocking that this is someone you plan to marry or are married to. How do you not know how much money they make? Wouldn't that be something you talk about so you can plan the finances and figure out who pays what? Now, I feel bad for my boyfriend who probably felt really uncomfortable when I started drilling him about his income!! 

Say you are one of these people...you are in a long term relationship right now and you have no idea how to bring this up. Maybe you are uncomfortable, you don't want to seem rude, or you feel like it is none of your business. An idea for you - set up an appointment with a financial/ investment advisor. A lot of people use their family advisors, if you don't know one - ask a friend you trust or you can look at www.kyfa.com for a list of advisors. Ask them to help you have these discussions together.  It will seem less intrusive and will help you as a couple put together your family financial plan. 

Communication is incredibly important! Open communication is what keeps families together working through the good, the bad, and the ugly. Even if you aren't the one in the relationship that "takes care of the money," it is important to know where it is, how much there is, what the long term plans are, and how is it invested.  Simple things like: are you putting enough into your TFSA or your RRSP? 

Simply put:
If you don't know...ask! If you feel stupid, just think, there is no such thing as a stupid question!!! 

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