Consumer Car Buying Advice Blog

Never let it be said that accountants have no heart. For this Valentines Day the Illinois CPA Society suggests you and your honey talk about money.

You, your honey, and money

Here at Auto Credit Express, we always thought that accounts were the analytical type. Not cold, mind you, but hardly a group of hopeless romantics. It turns out that we were only half right. According to the latest news that came across the wire this afternoon, the accountants that make up the Illinois CPA society have a suggestion that, while hardly romantic, could certainly improve the relationship between you and your significant other. Here is the press release:

CHICAGO, Feb. 12 / – It won’t add to the romance but having an honest conversation about money upfront in a relationship just might make it last. Considering the stress of today’s economy on relationships, the Illinois CPA Society suggests having a Valentine’s Day money talk and offers these ideas for getting started:

•    Be Honest and Upfront — Let each other know what you’re bringing to the relationship; list everything financial, both positive and negative - outstanding student loans, car loans, number of credit cards and the amount owed on each of them, 401K plans or investments, insurance, outstanding medical bills and family commitments, like parent or child support

•    Ask Questions — You shouldn’t be afraid to talk about money. Don’t know what your significant other’s credit rating is or the longest they’ve held a job? Ask them; it’s better to know now, not later.

•    Compare Attitudes — Compare your attitudes about money. Find out who cuts coupons and who’s more likely to make impulse purchases, and what each of you considers necessities - premium cable or high priced hair cuts? Describe your spending habits and financial condition in a few words. Discuss current details like whether you have a budget and stick to it, as well as your long term financial and career goals.

•    Stay Calm — Don’t criticize or blame each other if you find you’re off to a rough start. Figure out a way to solve any problems and remember you have a fresh start together. Develop a finance plan for your future and follow it. If you need help consider working with a CPA.

The Bottom Line

Thanks for the advice and a Happy Valentines Day to all you CPAs out there

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