Does Getting Married Affect Your Credit?

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Considering tying the knot? Congratulations! But, as any wedding couple knows, with wedding planning comes financial planning. The rings, the venue, the Pinterest-chic individualized party favors with gold flakes on them—with each addition to your perfect day comes a subtraction from your bank account.   All this spending most likely has you thinking about your financial future with your new spouse. I know how busy you are, so I’ve taken it upon myself to address the three most common questions couples ask me:   1. I don’t love my spouse’s spending habits. Should I try to teach my spouse new habits or just manage the finances myself?    One of the most important facts of life to know before you get married is that you can’t expect your spouse to … [Read more...]

Dream Wedding = Credit Score Nightmare?

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Your wedding will be one of the most important days of your life… and the most expensive. Many times, the cost of an extravagant engagement ring, followed by a blow-out wedding and a five star honeymoon can cost more than just money.   Couples who choose to spend more on these items are also often opting to charge their expenses on credit cards. Unfortunately, if you’re not able to pay the resulting bills on time, your credit score will suffer. With a lower credit score, you can count on higher mortgage rates, interest rates and other long term financial effects. So, is it worth it?   A recent survey conducted by myFICO examined couples’ views on financial management issues. The results reveal that while most know that credit is important, many are still charging … [Read more...]

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