Lack of communication about finances can ruin relationships. Most marriages that end in divorce prove that money played a part in some form. Most marriages fail before they begin when couples don’t make the effort to dive into money issues by having an open, honest conversation, and develop a plan for long-term financial success. In fact, according to a Debt.com survey, only 31% of people knew their spouse’s credit score before getting married.
With the cost of living rapidly increasing and life becoming more expensive as each day goes by, most couples need two incomes to survive. How do you expect your marriage to survive and live happily ever after if you don’t have that financial conversation before getting married? Do you know if your partner has good or bad credit, owes student loans, pays child support, has tax problems, garnishments, liens, levies, or other financial issues that will impact your marriage? These issues and more will impact your marriage and long-term financial goals, such as purchasing a home, vehicles, raising children, retirement investments and paying the monthly bills without living in constant debt, which will ultimately ruin your marriage and end in divorce.