Many of you spend more time selecting a ring before marriage then discussing marriage finances. Yet, how many of you 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 problematic marriage finances. There are three to five other top divorce reasons, but money issues tops the list.
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 seemingly 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.” If your spouse is not willing to share his or her credit report with you before you marry, look at that as an early sign of problematic marriage finances.
Solve Money Problems With This Small Tool
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, or ignores them altogether.
- 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 may with bill paying and money in general.
- Some people simply do not get to know their spouses well enough to get married, but in our “get-married” promoted society, some have a tendency to rush to the altar.
Most of you are on your 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 to establish marriage finances.
So what happens, you marry a seemingly wonderful person, discover their bad financial history after marriage, fight over it, and then divorce, sometimes after fighting over money for years.
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.
The credit report is only one indicator of financial dysfunction with your potential spouse, others are excessive spending, over-paying, always broke or behind on bills such as child support or taxes.