Marriage Plans? A Last Minute Credit Check Is Essential

By Stephen Mazeika   

If you are planning on popping the question to that special someone, or if the ring is already on your finger, you may want to perform a credit check before taking the plunge. According to Fairchild Bridal Group, the winter holiday season is one of the most popular engagement periods of the year, so right now is a great time to act.

According to a recent survey performed by myFICO.com, one out of every three respondents stated a lack of financial responsibility as a cause of strain in their relationship. This is why it is recommended that a conversation takes place regarding each others’ personal financial positions, and sharing credit scores shouldn’t be seen as invasive.

Understand your partner’s habits

Are you a spender, a saver, or a risk-taker? These are the types of questions that need to be addressed. Understanding what each other’s habits are is a very important part of the process, and can help avoid unnecessary strain later on. It is especially important to do this prior to tying the knot because it is a much easier time to resolve potential problems that may arise.

Although this process might seem irrelevant because the love between couples is strong and ‘money isn’t what we care about’, what it lacks in romance it makes up for in practicality. This may inadvertently save people a mountain of frustration, stress, and other unmentionable problems down the road which may be more difficult to fix when a couple is already married.

Keep in mind that once you start sharing your life with another person that doesn’t mean that you inherit a new credit score, so couples should work together leading up to the wedding to ensure a happier and more stress-free marriage for the rest of their lives.