Many
of us spend more time selecting a ring before marriage then
discussing finances. Yet, how many of us have heard of a
couple divorcing due to "ring problems?" Professional
marriage counselors tell us the single most common reason
for divorce in this country, are financial problems.
My question to you is "Do you think these problems
started after marriage?" I'll save you some trouble, "the
answer is no." We bring all of our pre-marriage baggage
with us into our wonderful marriages. Included in this pre-marriage
baggage is the credit report. You say, "credit report," what
does that have to do with marrying the most wonderful person
I have ever met in my whole life? The answer, "a lot!"
In your credit report lies those nasty
little financial secrets we call "past and current
financial problems."
What can a credit report tell us?
>In the case where a credit report
is several pages long, this is a strong indicator that
your spouse-to-be is overextended.
In some cases, far too overextended.
> Several delinquencies listed on a credit report simply means
your Mr. or Ms. Right just doesn't bother to pay his/or her
bills in a timely fashion.
> Then there is the real ugly stuff, which can appear on a
credit report, like previous DUI's (that's drunk driving
offenses, for those of you who don't know). Then there are
the liens and judgments, and yes, even the nicest most attractive
people can end up here.
Far too many men and woman are baffled
by their "significant
others" spending habits and financial problems, after
they are married. This probably happens for any number of
reasons; these are just a few;
>Some people just don't believe someone they, "think
they know" is capable of doing "nasty things" like,
not paying their bills on time?
>
Some people simply don't understand the significance of "not
paying bills on time." The significance is that the
person you are about to marry is probably very irresponsible
in general.
>
Some people simply do not get to know their spouses well
enough to get married, but in our "get-married" promoted
society, we have a tendency to rush to the altar.
Most of us are on our best behavior before marriage, and
others simply don't understand the significance of credit
history before they marry, therefore the thought never occurs
to ask the potential spouse about financial history. So what
happens, they marry a seemingly wonderful person, discover
their bad financial history after marriage, fight over it,
and then divorce.
To avoid this cycle, look at the credit
report of Mr. or Ms. Wonderful before marriage. Get together,
pull it out,
and go over both reports. If he or she refuses, think twice
about the true "wonderfulness" of your soon-to-be
spouse.
Lois Center-Shabazz is the founder
of MsFinancialSavvy.com and author of the 3-time award-winning
personal finance book, Let's Get Financial Savvy! ISBN #0971979502.
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