Can I Take a Lookie at Your Credit Report?

Remember when in matters of amor, being a “10″ was tops (Bo Derek anyone)?

Not anymore and by a long shot if you add money to the mix.

Imagine this date scenario:

“Hi, I’m Viviana.  I’m an 800.  How about you?”

Love_of_Money-TheWiseLatinaClub

Remember When It Was Enough to be a 10? Not Anymore.

Romantic buzz kill, no, chatting credit reports and scores?  But business and financial life strategist Louis Barajas says honest money conversations are crucial to make sure you don’t break the bank or your heart.

This has to do with some total downer statistics:

  • Money causes an average three arguments a month, according to a recent Harris interactive survey.
  • And couples who clash over dólares once a week are 30% more likely to get divorced, according to a 2009 Utah State University study.

Some nuggets from my interview with Louis:

  • Honesty is the best policy.  If I can’t trust my honey with my bank account, heck, the penny jar for that matter, our problemas go deeper than the bucks–to issues of character.
  • Barajas recommends sharing bank and retirement accounts with some exceptions.
  • Talking often and openly is important because you can see how your past influences your view of money today and if it will turn into an irreconcilable difference tomorrow.

Click to listen to this important conversation while I guest hosting NPR‘s Tell Me More with Michel Martin while Michel was away:

Have you ever lied to your honey about money?

 

Comments

  1. says

    Oh how I can relate to this. After moving to a new state and not having a back up plan finances became strained and the arguments came like an avalanche. It was truly the stress of bills and all that really took a toll on us.

    • says

      I think what you went through with your family is a lot more common than not. I see you and your husband now collaborating together on GrowingBlackxican, I’m so happy to see that you got past the rough spot.

  2. says

    I couldn’t agree more. More couples have problems over finances than religion and other factors we are conditioned to think are important. Even in stable relationships finances are stressful.

  3. Carrie says

    Financial planner asked husband and I about money arguments. None. We have similar money attitude…and when we had to agree on how to invest the nest egg, we had to reach an agreement, despite my being less conservative with investments.
    Definitely a must-have conversation in any relationship.

  4. says

    Not married but the man-friend and I had this conversation very early on as we met initially b/c he was my banker and so from the jump he had access to most everything. the mutual conversation and knowledge was inevitable. we have varying opinions on saving and investing, but in the end we meet eye to eye.

    • says

      Now that’s a twist! My view is that differences are inevitable since we’re not the same person, as long as they’re not huge values-type ones. Seems like you and your honey are on good footing.

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