How well do you know your partner - Financially?

You probably share a bed, plan holidays together, do the cleaning together (well maybe not!!) but do you really know about your partners money?

Too many relationships fall apart due to a lack of simple communication about money issues. Couples seem to fight about the trivial issues (like purchasing branded tissues over the generic brands) and avoid dealing with the big underlying ones.

According to a study conducted by AC Nielsen for Relationships Australia 3 out of every 4 people interviewed had a major relationship difficulty in recent years. Of this group "Money differences were the number problem followed by work pressures then having and raising children.

People need to open up more about money issues with their partner. A good partnership should be able to communicate on all levels - money being one of them.

Knowing about each others money affairs should not be a mystery.

Here's a quick quiz to see how well you know your partner - financially.


1. Do you know how much they earn a week
a. Yes
b. No

2. Do you know how many credit cards your partner has
a. Yes
b. No

3. Do you know what the limit is on their credit card
a. Yes
b. No

4. Do you know what they owe on their credit card(s) at the moment
a. Yes
b. No

5. Do you know what health insurance company they're with
a. Yes
b. No

6. Do they have life insurance and do you know who the beneficiary is
a. Yes
b. No

7. Do you know how many bank accounts they have and how much they have got in cash
a. Yes
b. No

8. Do they have a will
a. Yes
b. No

9. Are your included
a. Yes
b. No / Don't know

10. Do you know where all of their financial documentation is kept
a. Yes
b. No

11. Do you know what sort of investments (eg shares) they have
a. Yes
b. No

12. Do you know whose name appears on all investments
a. Yes
b. No

13. Do you know who their accountant or solicitor is
a. Yes
b. No

14. Do you know if they have taken out a life insurance policy on you
a. Yes
b. No

15. Do you know how much they owe in loans
a. Yes
b. No

Scoring

Give yourself a 1 for every Yes and 0 for every No.

Zero - either you have just met or there is a serious communication problem If it is the latter call Relationships Australia on 1300 36 42 77 and speak to someone there fast and see if they can give you some advice as to how to go about approaching the subject with your partner.

0 - 5 Probably the relationship is quite new and you haven't got to the money bits yet or you are both at an age where things like having an accountant or solicitor isn't relevant. If the relationship is not new, you really need to sit down with your partner and discuss (I said discuss) not interrogate these issues with them.

6 - 10 Getting good but there is still some room for improvement. If you are in a strong relationship there should not be any secrecy - Money included!! So go and find out the answers to the questions that you couldn't answer yourself.

11 - 15 Seems like you know your partner's money situation pretty well. Wouldn't it be great to know all 15? Take some time out to find out the missing answers.

15 - Brilliant. One question I have is that would your partner get the same score???