marriage and money

That's very true. You need to budget carefully even with seperate accounts plus the joint account. Having a budget is a great idea if you need it.

 

lippy agrees that debt free should also be a goal as far as credit cards...until you actually own your house meaning you are no longer buying from the bank with a monthly mortgage then you are in debt...no way around it...i think what blacktiger mentioned as far as saving is important as well...savings, investments and retirement planning

 

I wuv you!

 

I need to bookmark this piece and give you reputation points when I can. You're a marvel.

 

This would be the only fiscal scenario I would accept if I got married.

 

here is a tuff question. When do you talk about money...before you get married or after the day of marriage and what should you ask and how deep should you probe ?

 

Nice.

even though I don't believe in marriage anyway.

that self righteous naggerboxing had to be shut down.

 

Before anyone decides to tie the knot, they have to be aware of their finances regardless otherwise the marriage thereafter would only turn itself sour and can end messy. If anything, there should be a discussion on the matters of fiscal responsibility. And if we're talking taking the commitment and trust further, they can consider creating a joint account and more so how to help their children. This of course is coming from a middle or low income perspective.

If the persons are earning six to seven figures, then I think they would know better from the get go.

 

Totally agree. It needs to be a serious sit down discussion too. It's the one thing that you can't just gloss over or 'kinda' discuss.

 

I know that we didn't have the technology that we have now, but I was such a damn fool as a kid. I get an allowance each week and spent it on toys. If I could rewind the clock, I'd actually save and ask my parents to create a bank account and if possible, put in 20 dollars into a savings account and keep the rest in a checking account. I would be in a much better financial condition.

 

Me too. My sister does that with her son. He gets an allowance, but is sat down each week and asked how much he wants to put into savings. He's a big saver now and is excited everytime he gets his bank statement. LOL He's 9 and saving for a house and farm. Love him, he's a champ.

 

let me ask you guys this......Would you want their credit score and credit history to view ?

I would want to see it.

 

That's really good! By the time he's 18, he'll be ahead of the curve and he can actually be practically free of any debt. Just remind him (if you can), not to gamble his way into despondency.

 

No.
However, this is yet another reason why having seperate accounts in addition to a joint account is a good idea.

Oh yeah, we (the whole family) talk to him about gambling all the time (none of us are gamblers). As it is now, he thinks it's silly to throw your money away like that, but who knows what the dreaded teenage years will do to change his mind. LOL

 

I think that's a no-brainer there. Being together would mean being transparent. So anything that would effect the spending habits, including credit score, will have to be known. And if one spouse has excess bad credit, then that would mean both parties would have to sacrifice their special time and pay off some of that so the credit score can go up. It's lengthy and long, but it would be beneficial long term.

 

Yep

 

to me it also says something about your character being extenuating circumstances removed (like medical situations and the economy). If you always defaulting or being late on repayments then that says you arent trust worthy. If a business will not lend you money , then why should i trust you with my life ?

 

That is true, goodlove. But you also need to recognize that if you're willing to put a lot of trust in that person by going great lengths to consummate the marriage, then perhaps there's a way to help build and moderate their own situations.

 

no doubt. you hit it on the head again. viewing the credit score will let you know where eachother stand financially and set a goal and plans. also it will let it be the point where you can decide if you want to take on that responsibility. lets face it marriage is also a business merger.

should we be talking about this ? It may not fit the WWBM . LOL...you know what Im talking about dont you . LOL:razz:

 

So damn true!

But come on...nothing is off the table, and this is a legitimate topic that we all can gather and understand much of what we need to know should we get involved with someone.