Today I ran across this article on Daily Finance on 10 tough money questions you must ask your future spouse. Since finances are one of the top reasons marriages end in divorce, I thought this would be a great article to share with favored readers. Check out a few of the tips below...
1. What's Your Credit Score?
Your credit score can affect your ability to start a family, buy a house or replace a car. Once you've married, your partner's credit score can be your problem, too, and it's not one you want to find out about after you file a loan application. Hint: It's a bad sign if your intended can't or won't answer this question.
2. What's Your Income?
Most of us consider this to be a closely guarded secret, but you can't hide it from your soon-to-be spouse for long. Nor should you. As you plan a life together, you need to know that both of you have realistic hopes and expectations about the lifestyle you'll enjoy.
3. How Much Do You Have In Savings?
You should know whether the person you're about to marry is living paycheck-to-paycheck. Many young people just starting out haven't banked much, and can't. But together you can work out a plan to establish an emergency fund covering three to six months of expenses.
4. What Debts Do You Have?
A truly embarrassing question, but one that must be asked. Marrying someone makes their debt yours, too. And a substantial debt can wreck the lifestyle you want together. There is a worst-case scenario here: If the person you're planning to marry is skipping out on obligations like a student loan, credit card payments or child support, you might rethink your choice of partner. If your loved one just has poor spending habits, work it out together now.
View the full list here.
Souce : Daily Finance
