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 been the primary cause of the Texas Rangers' poor first half of the 2014 baseball season?

Too many injuries
The loss of Nolan Ryan in the front office
Questionable decisions by general manager Jon Daniels
On-field decisions by manager Ron Washington
Key players just aren't producing
All of the above
     View Results
Facebook
Must Read
Photos


See more photos and purchase prints here.

AP Video
Judge Ponders Overturning Colo. Gay Marriage Ban Airlines Halt Travel to Israel Amid Violence NYPD Chief Calls for 'use of Force' Retraining VA Nominee McDonald Goes Before Congress Bush: Don't Worry, Sugarland Isn't Breaking Up US Official: Most Migrant Children to Be Removed Police Probing Brooklyn Bridge Flag Switch CDC Head Concerned About a Post-antibiotic Era Raw: First Lady Says `Drink Up' More Water Courts Conflicted Over Healthcare Law Holder Urges Bipartisanship on Immigration Raw: Truck, Train Crash Leads to Fireball US Airlines Cancel Israel Flights Obama Signs Workforce Training Law Crash Victims' Remains Reach Ukraine-held City Diplomatic Push Intensifies to End War in Gaza Cat Fans Lap Up Feline Film Festival Michigan Plant's Goal: Flower and Die Veteran Creates Job During High Unemployment
Hyperlocal Search
Premier Guide
Find a business

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