Money Questions to Ask
How you manage your finances matter. So, while in a purposeful relationship that is heading towards marriage, it is important for you to understand each other’s values, priorities, financial roles and responsibilities before you say: “I do”. Discussing financial management may not be the most romantic topic, but it is important for building a healthy and long-lasting marriage which is based on mutual trust and understanding. This will help you make informed decisions and set realistic expectations. Financial management is biblical; let’s look at what the Bible says in Proverbs Chapter 21 and verse 5:
Brilliant ideas pay off and bring you to prosperity, but making hasty, impatient decisions will only lead to financial loss.
Likewise in Luke Chapter 14 verse 28, the Bible says:
But don't begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it?
Communicating clearly will create a good foundation for a successful, long-term relationship. While having this conversation, avoid being defensive or judgmental. The truth is that you are both working towards building a future together, and this includes financial stability and security. You could ask questions such as:
- What are your short-term financial goals?
- What are your long-term financial goals?
- Are we going to have joint or separate bank accounts?
- How are we going to manage our finances and pay the bills?
- Who will be responsible for making financial decisions?
- How do we honour God with our finances?
- What are your thoughts on giving to the poor?
What are your thoughts on having a savings plan for future purchases.
The decision of whether you want to have a joint account after getting married is one that you will need to make based on your circumstances and preferences. Some couples prefer to have joint account to make it easier to manage their finances and expenses and they both contribute to this account. Likewise, some couples prefer to manage their finances individually. Like I said, this is a personal choice that you must prayerfully make, and God will lead you to the solution that is best for your marriage.
Also, it is important to discuss your views on borrowing such as taking student loans, credit cards, personal loans, and other forms of debt. If one of you already has significant debt, it is important for you to address the impact that this will have on your joint finances, for example: is it going to take a while for the debts to be paid off? So, don’t brush this topic aside. You may need to make sacrifices or change your spending habits to ensure all your debts are paid off; however, you must demonstrate a supportive attitude towards each other to avoid any misunderstanding.
In conclusion, we are caretakers of what God has given us. God owns everything and expects us to be good and faithful stewards by handling our money in line with biblical principles. Prayerfully discuss this topic openly and honestly and set the right financial goals so that both of you can work together to achieve these goals in marriage.
I pray that God will give you the wisdom you need to have this conversation.
God Bless you and I’ll see you in the next video.
This is good!