The Herald Banner, Greenville, TX

Real Estate News

February 21, 2012

Financial Questions to Ask Before You Get Married

- — Some 4 million Americans expect to propose — or be proposed to — over Valentine’s Day, according to the recent American Express Spending & Saving Tracker survey. But how many of them will talk finances before they walk down the aisle? Probably just a handful, even though it’s far more important than the cake, flowers, and invitations!

Save yourself some arguments later by talk about your money now. Here are a few of the questions you need to ask your soon-to-be spouse:

What would you like to be in 5 or 10 years?

Do you both want children right away? Would one of you prefer to land a new job before you consider having kids? And what about those long-term plans to get a business degree — is that ever going to happen? You need to sit down and have a conversation, discussing your hopes, dreams and aspirations. Then set priorities and come up with a plan to meet your short and long-term goals, one by one — together. This will help ensure a positive outcome!

What are your assets? Liabilities?

You really need to know where the other person stands (Secrets are lethal!). If you have assets that need to be protected, consider a pre-nuptial agreement (particularly if this is a second marriage and there are kids, step-kids and others involved — assets often get into the wrong hands!). Saddled with high-interest debt? Come up with a plan to eliminate it — preferably before the marriage.

What is your risk tolerance?

In just every relationship, there’s a spender and a saver, and trust me: this can wreak havoc! What will happen if one person gambles away the future? Poof, there goes the marriage!

What’s your credit like?

Zillow Mortgage Marketplace analysis of more than 25,000 loan quotes and purchase requests shows that you need a credit score of 720 or higher to get the best interest rates. The analysis also indicates that if you have score of 620 or lower, you’re unlikely to get a single loan quote. So much for buying a house together (Yes — lenders will consider both your histories if you’re applying for joint financing)! Know where you each stand — get a copy of your credit from annualcreditreport.com.

Text Only
Real Estate News
Featured Ads
Promotions
Poll

What's your favorite spring high school sport?

Swimming and diving
Wrestling
Basketball
Soccer
Tennis
Golf
Track and Field
Softball
Baseball
     View Results
Facebook
Must Read
Photos


See more photos and purchase prints here.

AP Video
Deadly Avalanche Sweeps Slopes of Mount Everest Police Arrest Suspect in Highway Shootings Drought Concerns May Hurt Lake Tourism Vermont Goat Meat Gives Refugees Taste of Home Calif. Investigators Re-construct Fatal Bus Cras Mayor Rob Ford Launches Re-election Campaign Appellate Court Hears Okla. Gay Marriage Case Author Gabriel Garcia Marquez Dead at 87 Beau Biden Plans 2016 Run for Del. Governor Chelsea Clinton Is Pregnant Horseless Carriage Introduced at NY Auto Show Obama Hopeful on Ukraine, Will Watch Russians Flamingo Frenzy Ahead of Zoo Construction Crew Criticized Over Handling of Ferry Disaster Agreement Reached to Calm Ukraine Tensions Raw: Pope Francis Performs Pre-easter Ritual Boston Bombing Survivors One Year Later Sister of Slain MIT Officer Reflects on Bombing
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide