Learning how financial conversations play a key role in relationships

MILWAUKEE (CBS 58) -- A recent study found that nearly half of couples do not discuss money with their partners, which financial professional Tom Neumann of Drake & Associates said can lead to stress, arguments and even divorce.

Neumann joined us on Tuesday, Feb. 25 to talk about the importance of financial discussions at different stages of a relationship.

He said early conversations can help partners understand financial habits, including whether they are savers, investors, or big spenders. Once engaged, couples should determine whether to merge finances, keep them separate, or use a combination of both. He said married couples should also discuss long-term financial goals, including retirement planning.

Neumann advised couples to communicate openly, avoid financial secrecy and seek guidance from a financial advisor when needed.