Monthly Archives: June 2009

How To Control Your Spending

More than fifty percent of households spend more than they earn. What does this mean for their finances?

If you are spending more than you earn, than you are likely to become in debt in a short period of time; After all, there is only so much credit available for consumers to maintain high spending habits that allow them to live above their means. (more…)

Repercussions Of Marrying Into Bad Credit

In a relationship, there are many issues that can come about when it comes to money. Credit worthiness can be a tricky subject to delve into with your partner – especially when trying to divulge that your credit rating is a little more red than black. When one partner has excellent credit and begins a relationship with a new partner that has made mistakes in the past leading to a lower credit rating it can be difficult to begin a dialogue.

There are many things to remember when you marry into bad credit. Just because you are signing nuptials, does not mean that you are going to be effected by the lower credit rating. When you apply for a loan, credit card or other type of credit – unless you are applying for a joint account, the creditor does not have the permission to check the credit report of your spouse, unless their name is on the application.

If you prefer to keep your credit histories separate, until the bad credit issues have been resolved – it can be crucial to discuss this early on in the relationship. (more…)