Ask the Dolans: How should newlyweds deal with debt?
Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.
Click here to ask Ken and Daria your question.
Getting married is an exciting time, but the merging of two lives can produce a few speed bumps – especially when it comes to finances. Often each spouse is bringing a different credit history and debt amount to the table, and it can be confusing to know where to start.
This was the case with one WalletPop reader. How should she and her new husband combine their debts with opposing credit scores? Find out in our video response below.
Dear Ken and Daria,
I have a high credit score and little debt, but my new husband's credit is low and has more debt. Where do we start?
-Kristin
Couples and money often result in big problems. Find your marital money bliss with Ken and Daria's advice and strategies, only at Dolans.com.
Click here to ask Ken and Daria your question.
Getting married is an exciting time, but the merging of two lives can produce a few speed bumps – especially when it comes to finances. Often each spouse is bringing a different credit history and debt amount to the table, and it can be confusing to know where to start.
This was the case with one WalletPop reader. How should she and her new husband combine their debts with opposing credit scores? Find out in our video response below.
Dear Ken and Daria,
I have a high credit score and little debt, but my new husband's credit is low and has more debt. Where do we start?
-Kristin
Couples and money often result in big problems. Find your marital money bliss with Ken and Daria's advice and strategies, only at Dolans.com.
Reader Comments (Page 1 of 1)
2-17-2009 @ 9:58AM
paydayadvances said...
If you are not able to find help from people you know, then you might be left with the one alternative- borrowing a loan.
http://thepaydayadvances.blogspot.com/
Reply
2-19-2009 @ 10:49PM
Ben said...
A good financial planning for the newly weds or for those who are about to be getting married is a very important aspect of their future life together. Perhaps a bit more so given the distressing times in United States right now. Generally this extremely crucial step is avoided till the last minute if not totally over looked until there is no escaping it.
http://www.8000credit.org/60/newlyweds-financial-planning/
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2-24-2009 @ 9:24PM
Jenny said...
Finances can be a sensitive subject for couples, and if e-v-e-r-y-thiiing is not discussed openly and honestly from the beginning, big problems could arise in the future. Talk about finances like you would talk about your day at work - everyday. Stay on top of it and leave the lines of communication open. Make a list of your financial goals as a married couple - start with reasonable goals such as lowering interest rates on credit cards, or paying off the credit card with the highest interest rate first. My husband and I have a goal of getting completely out of debt this year. We know our exact debt down to the penny, and have a year-plan in place to conquer it! We've found having a dry-erase board for finances is a very useful tool for looking at what we want to do and how we are going to do it, as far as debt to "kill".
It may be difficult admitting your financial struggles, such as poor credit scores or debts you have, to your future (or new) spouse, but it will benefit your relationship and your way of life and well-being in the long run. Good luck to you.
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2-28-2009 @ 11:16AM
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