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162 Past Due – Help! My Fiance’s Finances Are Trashed!

by Derek Sisterhen on June 17, 2011

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Past Due: Radio 162 – Help! My Fiance’s Finances Are Trashed!

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I was teaching a group of undergrad and graduate interns at SAS Institute earlier this week and was asked a great question: What do you so when you find out your fiance has a poor financial situation?

The intern asked the question on behalf of a friend who recently discovered his fiance had $12,000 in credit card debt and she isn’t able to make consistent payments. This groom-to-be is concerned about uniting their finances and what the credit score implications could be in the future, especially for buying a house.

Today, we address:

1) The three critical discussions every engaged couple should have on dreams, upbringing, and current spending (this assumes you’ve already been through a pre-marriage course or counseling)

2) The way that banks handle married applicants when one person has a low credit score and won’t qualify

3) The focal points this young couple needs to aim toward to start their marriage on the same page

So many couples spend significant amounts of time planning their wedding that they neglect planning for their marriage. Taking the time to walk through a couple of fun, conversation-provoking exercises can literally divorce-proof a marriage.

If you have a specific question, I’d be happy to answer it and further cultivate the wisdom of the Past Due Radio masses. The experiences of our listener base provide plenty of insight we all can learn from; don’t hesitate to ask – I’m happy to help!

Today’s Mentionables:

Episode 134 – Do-Overs: Preparing for Marriage – In this episode, we discussed some of the mistakes Elisa and I made in preparing for managing money after I do and what I would do if I could do it all over again

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  • http://www.facebook.com/ecviets Eric Viets

    You are right on in saying that people who not yet even engaged should get good pre-engagement counseling.  My wife and I write a blog for Christian singles and couples who are in that phase of life – to help them prepare for marriage and wise spousal selection.  We also do pre-engagement counseling locally or via Skype.  If you want to check us out (or even recommend us on a future show), you can find us at http://preengaged.com. 

    I think this episode is perfect for our listeners, so I’ll be promoting it on our website in an upcoming post. Thanks!

    As a side note, I’m also a Ramsey Certified Counselor, so I enjoy your podcasts on the financial end too!

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