San Diego, CA. San Diego, CA Have you noticed "Til Debt Do Us Part" seems to be
replacing "Til Death Do Us Part" in traditional wedding vows? Public records now indicate there are fewer first time marriages than those who
are going at it the second and third time around.
"About 50 percent of these domestic meltdowns are rooted in the family's finances. There are certain questions that must be asked
concerning finances of each party that are about to begin sharing their lives together," says Paul S. Richard, Executive Director of the nonprofit
Institute of Consumer Financial Education (ICFE) based in San Diego, CA.
"It is more important now, perhaps than ever before, to ask financial questions of significant others in your business and love
life. Asking these five basic questions before the legalities of a
marriage, other legal financial union, partnership or small business venture will undoubtedly save many hurts and disappointments," Richard
1) Have you looked at your credit files in the last year and will you show it to me?
2) Do you have a savings account and does it grow with every pay period?
3) Have you had utilities and or a telephone in your own name?
4) Have you ever been put into collection by a creditor, had a motor vehicle repossessed,
by a creditor or have you ever filed for bankruptcy?
5) Have you borrowed from a family member or friend and do you still owe them money?
There are many other questions also to be asked of a potential life or partner including spending and debt Practices, insurance
coverages, plus investment concerns and overall attitudes towards money. The answers
others give will help you determine your measure of comfort with them as a future financial partner.
For more information about intelligent spending, increased saving and the wise use of credit in personal and family finances visit the
ICFE's Web page at: http://www.financial-education-icfe.org.
For those without Internet access, please send $1 and a self-addressed, 34 cent
stamped envelope to: ICFE Money Helps, PO Box 34070, San Diego, CA
For more information contact Paul S. Richard ICFE Executive Director at 619-239-1401.