Due to the Great Recession, people are being more careful about marriage and are cohabitating longer. They know how expensive divorce can be, not to mention how draining. But there’s another phenomenon too. Some people are denying their lovers their hand in marriage until they pay down their debt. The credit score is almighty today, allowing access to homes, cars and businesses, or denying access depending on how that person handles money. One spouse’s debt affects both of their credit. With lots of plans for the future, no one wants to get tied down or lassoed with the debt of another.
Do they have poor spending habits? If you are worried that they will talk you into a joint credit card account and max it out, ask them about their buying habits and be careful. Notice whether or not they go on extravagant shopping sprees they can’t afford. Who are they going to stick the bill to? If they can’t afford it and you two are married, you’ll feel forced to contribute, not only in the emotional sense but to save your joint credit.
There is another underlying factor here. If a person isn’t responsible with money, can they be trusted with other things? Are they only irresponsible in the financial sense or in other ways too? And will these other ways damage the other person or the relationship as a whole? Conscientiousness is one of those great qualities in a lover and a spouse that is often overlooked. But someone who went the distance working hard in their career, whether they were knocked down by the economy is another matter.
Someone who can pay bills on time, save, live somewhat frugally, someone who doesn’t spend frivolously but knows the value of money may know, appreciate and respect the other good and worthwhile things in life, namely you. So their spendthrift, responsible or reckless ways they spend money could speak to deeper parts of their psyche, parts you are going to have to deal with should you decide to get involved in a long term relationship, even a marriage with this person. Marriage is forever. If they are serious and really love you perhaps they’ll change their poor financial planning. If not, let them go. Love may be fleeting, but your credit score lasts forever. For more advice read, How to Debt-Proof your Marriage by Mary Hunt.