Apparently, the more money you’ve, the more your problems are. Most couples are focused on their sex lives and can they handle or resolve arguments, but many of them hardly ever think there could be something else that can ruin their relationships. Yes, it’s money. So, if you want to keep your marriage or relationship on track, here is one-way money could be taking your relationship towards the rocks.
So, how can you money put your relationship at a significant risk? The simple answer is your credit score. This might come as a surprise to you because most people will agree that your credit score will always be popping up to ruin your day. It is true credit scores isn’t a romantic topic to discuss with your date over a candlelit dinner. Nonetheless, it’s an important subject that needs to be addressed sooner rather than later.
While talking about credit scores and relationships, you shouldn’t be confrontational, especially if you’ve suspicion that your boyfriend or girlfriend might have weaker credit than you. Instead, discuss the matter in a lighthearted way.
When talking about money this approach is highly preferred. Say something like my friend’s girlfriend is having a problem in paying her credit card bills. It scares me if someone isn’t able to pay their debts on time. So how do you think I can help her? See, this way you can start having the conversation with your partner without accusing anyone of anything. Talking about finances in this way will also help you to get a sense of your partner’s finances and spending habits, as well as feel complacent in sharing your experiences. Another important thing worth noting here is you shouldn’t move in or marry someone without knowing the current situation of both of their debts and spending habits.
So, what will happen if you or your partner has a bad credit score?
One major problem of having a poor credit rating is the difficulty of getting a mortgage. Even if you manage to secure one, the interest rate will be much higher than usual. This is by far one of the biggest impacts of bad credit. That’s not it; it goes even further. Landlords won’t hesitate in approving a lease. If your credit score is appalling, it’s highly possible that you may not even be able to rent a home or an apartment or even a car. Moreover, if your credit is bad, utility companies will demand that you put down a security deposit. A poor credit score will also put you in a disadvantageous position while applying for jobs and buying a car or any other vehicle.
So, what can you do to keep your credit score from deteriorating? It’s simple.
- 1. Always pay your bills (loans, mortgages, credit card balances, etc) on time and don’t miss any payments.
- 2. Be careful about how much you owe and spend.
- 3. Discuss having a joint bank account with your spouse.
The bottom line is dating someone with poor credit isn’t that bad. You can put all of your debts in your name, but that’s a big risk to take. So, if you’re looking for a relationship, and notice that your credit score is below average, work on raising it.