The Federal Reserve recently conducted “stress tests” of 19 of the country’s largest banks, to determine whether they had enough resources to survive another financial crisis.  The results were mixed: of the 19 banks tested, 10 need an additional $185 billion to get out of the danger zone. All the news coverage got us thinking – - if it’s worth stress testing the banks, how about the person you’re dating?

Or is it rude to think about money when it comes to seeking true love?

Lots of people don’t think so.  In fact, most financial advisors say you should learn more about the money habits of a potential partner. After all, if things get serious, you’ll likely end up sharing bank accounts, car loans, even a mortgage.

Here’s five easy steps to give your romantic relationship its own “financial stress test”:

• Make a list of the financial assets each partner has.  Assets are anything of value that might contribute to the financial health of a long term relationship.  Assets include bank accounts, paid-off cars and real estate, and more.

• Make a list of the liabilities each partner has.  Liabilities include credit card debt, car loans, personal loans, and money owed to friends or family members. Remember, if you owe money on a car, it’s a liability, but if you own it, it’s an asset.

• Do a quick calculation:  Are your liabilities greater than your assets, or vice versa?  What specific steps can you take to earn more and spend less?

• Check out your credit history.  Each partner should obtain and share copies of their credit reports.    You can get credit reports at no cost by going to www.annualcreditreport.com.

• If your relationship is getting serious, consider how money will be managed.  Who will pay the bills?  How will you set up a budget?  Will you have joint checking accounts?  Savings accounts?

Does this sound daunting?  Maybe so.  But given that many relationships, like banks, are eventually wrecked by financial problems, maybe it is advice worth considering.