Financial Issues to Consider While You’re Looking for a Spouse

Financial Issues to Consider While You’re Looking for a Spouse

Debt

Understanding each other’s debt ratios is extremely important before you say, “I do.” Don’t wait to have this important conversation after the fact. If you’re dating someone and consider him or her a potential spouse, you need to begin the culture of financial transparency now. Understanding the numbers behind each other’s debt can help you put boundaries in place now so you can start eliminating your debt and begin your marriage on a healthier, less leveraged financial footing.

Is credit his/her best friend?

Watching how your potential future spouse treats credit cards is extremely important. Impulsive spending, living for today and hoping to pay for the lifestyle tomorrow should be a warning sign of things to come. Do you know how many credit cards your future spouse has? Do you know the balance they owe? Are you ready to take on that credit card debt as part of your marriage deal? Talking about the use of credit is key before you tie the knot.

Today's tip brought to you by Mvelopes and Money4Life Coaching.