A recent CNBC survey of couples discovers that 64% admitted to being financially incompatible. A money date is a relaxed and open conversation about finances and goals. This is an important component to financial compatibility and avoiding potential conflict. It can benefit relationships of any length and open channels of communication with transparency and respect. Dave answers questions like:

What is a money date and why is it important?
How can it help understand each other’s financial habits and attitudes?
What are the places for combined and separate money in marriage?
Does this concept work for both newly engaged and long-term couples?

Many of the PFP Section resources provide ideas on topics that can be discussed in this manner including:

The Life Events section of Broadridge Advisor provides conversation ideas relating to clients’ current or future situations.
The new Health Transitions Guide help you talk clients through potentially stressful situations.

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

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Money Dates (PFP Section)

AICPA Personal Financial Planning (PFP)