TAKE OUR FINANCIAL COMPATIBILITY TEST FOR COUPLES AND MAKE FIGHTS ABOUT MONEY A THING OF THE PAST
HOW financially compatible are you with your partner?
That’s a big question that’s getting more important as we head further into a cost-ofliving crisis that’s been going on for some time now.
Familiar to us all, many surveys have found that money issues are actually the number one cause of relationship strife.
And the situation is getting worse. A recent survey by credit card company Aqua found that about 35% of couples admitted that recent financial pressures are straining relationships more than ever.
The growing challenges of making ends meet caused 28% of them to argue more about money than in the past. So will your relationship stand the strain?
Take our financial compatibility test to find out (and maybe you can learn a little about managing your finances along the way, too!) 1
What’s the most you would spend on one thing – without letting your partner know about it? a) <€100. b) Hundreds. c) Thousands. d) Why shouldn’t I treat myself to a new Tesla every now and then?
2
You discuss finances with your partner: a) Every day. b) Once a week. c) Now and again when you can’t avoid it. d) Only when defending yourself during a major row about how bad you are at it.
3
You’re thinking of buying a new car? Do you: a) Save first, preferably in a joint account and buy later. Never a borrower nor a lender be! b) Buy partly in cash and partly with a credit union loan. You want to trade up a little and make a strong case to your partner that you can afford it.
c) Arrange a bank loan without shopping around – or telling your partner. d) Commit to a complex loan scheme you don’t understand to get a pricey car you can’t afford that you plonk on the driveway unannounced?
4
You pay bills: a) From a joint account b) Separate accounts but you split bills in an organized way. c) Separate accounts and you pay bills randomly causing friction. d) Only as a last resort.
5
Your savings are mainly in: a) Carefully planned investments b) Mostly on deposit. You don’t want any hassle or risk c) What savings? d) A weird cryptocurrency token that Kim Kardashian recommended on Instagram. 6
Your pension is: a) Doing nicely thanks very much. You invested wisely and early in a pension since your twenties. b) You got into a private pension belatedly in your forties and hope to catch up with contributions when you can. c) Patchy. You had a pension at some stage but subsequently left the company and don’t know how it’s doing. d) Non-existent.
7
When you get extra money you: a) Save it all. b) Save some, spend some. c) Blow it all on a holiday of a lifetime with your partner. d) Blow it all on a splurge with your drinking pals.
8
When eating out you: a) Always split the bill according to your respective incomes. You have an app for it. b) Take turns paying – being carefully no one loses out. c) Take turns a bit randomly. And don’t object too strongly if your partner pays more often as your credit card limit is looming large. d) Always go to the loo just before the bill arrives as your credit limit is long maxed out. 9
As a married couple you pay tax: a) Jointly. You’ve long ago worked out that this saves you money – in fact it’s one of the reasons you got married. b) Separately. You know that, in your case, being taxed separately doesn’t save any money. c) Separately because you didn’t really get around to looking into it. d) No idea how tax works and don’t care.
10
In your first year of marriage, you were taxed jointly but could claim a refund if this wasn’t advantageous. Did you: a) Eagerly claim your refund. b) Didn’t claim as it wasn’t advantageous but knew about it. c) May be due something but forgot to do look into it properly. d) Boring!
11
Your greatest financial extravagance was: a) Leaving an over-generous tip. b) Buying a pricey gift for your partner – with your money. c) Buying one from a joint bank account. d) Investing in a bitcoin scam – twice. 12
Do you have financial secrets? a) No – you love talking about money. b) Not really – apart from hiding the odd extravagant receipt. c) Yes. You bet on sports or maybe spend lots on clothes but don’t tell your partner. d) Yes. Lots, mostly involving debts. Large debts.
13
Do you have an emergency fund? a) Of course. b) Yes, but it keeps getting raided – like Ireland’s national contingency fund . c) No, but you mean to start one. d) Life’s an ongoing financial emergency baby!
Answers
(Mostly) a) with a): A money match made in heaven. a) + b): No real problems and in fact B could help A to ease the purse strings and enjoy life a bit more. b) + b): Compatible and financially ok but could bone up a little. c) + c): Compatibility not an issue. But money issues may be. c) + b): No very serious incompatibility – but you need to bone up on financial matters (by avidly reading your Money pages of course). a) + c): A should keep the financial ship on course but relationship stormclouds loom! d) + anyone else: Need to see both a financial and relationship advisor – fast!