Starting a family is exciting, but it brings new challenges—especially with money. Many couples avoid talking about finances until they have kids, but waiting can lead to stress and surprises. Sharing financial secrets before kids arrive helps you set clear expectations and build trust. You’ll be better prepared for the costs, from diapers to daycare. Open conversations about money can strengthen your relationship and help you avoid common financial pitfalls. Here are the 11 financial secrets couples should share before kids to keep your family on solid ground.
1. Your Full Debt Picture
Before kids, you should both know about all debts—credit cards, student loans, car payments, and any personal loans. Hidden debt can cause major problems when new expenses arrive. Lay it all out so you can plan how to pay it down together. This helps you avoid surprises and makes it easier to budget for your growing family.
2. Credit Scores and Histories
Your credit score affects your ability to buy a home, qualify for loans, or get better interest rates. Share your scores and credit reports with each other. If one of you has a lower score, work together to improve it. This can help you qualify for better financial products when your family needs them most.
3. Spending Habits and Money Personalities
We all have different attitudes toward money. Some people love to save; others enjoy spending. Discuss openly your spending habits and personal money management styles. Understanding each other’s approach helps you avoid arguments and set realistic expectations. This is one of the most important financial secrets couples should share before kids.
4. Income and Side Hustles
Be honest about your income, including side gigs or freelance work. Knowing your total household income helps you plan for child-related expenses. It also allows you to see if you’ll need extra income sources after the baby arrives. Don’t forget to discuss job stability and any upcoming changes at work.
5. Savings and Emergency Funds
Do you have savings? If so, how much? If not, now’s the time to create a plan. Kids come with unexpected costs, from medical bills to broken appliances. Agree on how much you’ll set aside for emergencies. This is a key financial secret couples should share before having kids, so you’re both prepared for unexpected expenses.
6. Insurance Coverage
Review your health, life, and disability insurance. Will your current plans cover pregnancy, delivery, and pediatric care? Consider increasing your life insurance coverage or adding a policy for the non-working partner. Insurance is a safety net that protects your family in the event of an unexpected occurrence.
7. Financial Goals for the Future
Talk about where you want to be in five, ten, and twenty years. Do you want to buy a house, save for college, or retire early? Aligning your goals now helps you work as a team. Create a plan for achieving those goals—even if they evolve as your family grows.
8. Budgeting and Money Management
How will you manage daily expenses once the kids arrive? Decide who will handle the bills, track spending, and monitor your budget. Use budgeting tools or apps to stay organized. This is one of those financial secrets couples should share before having kids to keep their finances on track.
9. Attitudes Toward Childcare and Education Costs
Childcare and education can be expensive. Talk about your expectations—will one of you stay home, or will you use daycare? Are you planning for a private school or a public one? This conversation can help you prepare for major expenses and avoid disagreements down the road.
10. Family Support and Obligations
Sometimes, family members may need help, or they may offer to help you. Be open about any regular support you provide to others or expect to receive. This includes financial help for parents, siblings, or even adult children. Knowing these obligations helps you plan your own budget and avoid surprises.
11. Plans for Parental Leave and Career Changes
Discuss your plans for parental leave—how long you’ll take off work and whether it’s paid or unpaid. Talk about any career changes you’re considering, such as going part-time or changing jobs. This affects your household income and should be part of your financial planning before kids.
Building a Strong Financial Foundation Together
Sharing financial secrets before kids isn’t about prying—it’s about building trust and preparing for the future. When you talk openly about money, you reduce stress and set yourself up for success. Make these conversations a regular habit, not just a one-time event. The more you know about each other’s finances, the stronger your partnership will be.
What financial secrets did you and your partner share before having kids? Share your experiences in the comments!
What to Read Next…
- Save For A Baby
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- 7 Genius Hacks For Combining Finances Without Ruining Your Relationship
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