Questions To Ask Your Betrothed About Money Before You
Tie The Knot!
RELEASE: March 2002
CONTACT: Paul S. Richard, ICFE Executive Director
San Diego, CA. "Till Debt Do Us
Part" seems to have replaced "Till Death Do Us Part" in the traditional
wedding vows. There are now fewer first time marriages than those who are
going at it a second time around. About fifty percent of domestic meltdowns
are rooted in the family's finances, often because of some hidden problems
with credit and or debt, a repossession or bankruptcy were never disclosed
Most of the inquiries about a spouse's (or former spouse's) money and credit
problems are from women who are getting the bad news too late, who explain
they want to buy a home. They have run into a previously unknown poor credit
history or, their own, once good, credit was ruined because of a former
spouse by an unfair divorce agreement.
There are questions that should be asked about finances by each party that
are about to begin sharing a life together," says Paul S. Richard, executive
director for the nonprofit Institute of Consumer Financial Education (ICFE)
based in San Diego, CA.
"It is more important than ever before to ask financial questions of others
in your business and love life." Talking about money and credit issues
before the legalities of a marriage or other legal financial union, will
save many hurts and disappointments later-on, before it is too late to do
anything about it," Richard noted. There are many questions to ask of a
potential life mate or partner about finances including:
spending and savings habits,
estate planning and investing.
The answers should help you determine your measure of
comfort with them as a future financial partner.
For consumers desiring additional help, the ICFE publishes the "Do-It-Yourself
Credit File Correction Guide" in
Spanish. Included in the Guide are step-by-step instructions
on the credit repair process, an explanation of consumer credit rights, and
sample letters to use when communicating with the various credit reporting
agencies about credit file questions and mistakes.
The "Do-It-Yourself Credit File Correction Guide," in both
English and Spanish, is available for $10 each plus $2 postage. The Los
Angeles Times Book Review calls the ICFE Guides "user friendly."
Send $12 to: ICFE U.S.
PO Box 34070
San Diego, CA 92163-4070.
Or please call 619-239-1401 or visit the ICFE's Web site at:
www.financial-education-icfe.org and order securely on line.
($2 postage is for book rate mail, add $2 extra ($4 total postage/handling
for 1st Class Mail or Priority Mail).
About the ICFE:
The Institute of Consumer Financial Education (ICFE),
founded in 1982 by the late Loren Dunton - creator of the "certified
financial planner” (CFP) designation - is dedicated to helping consumers
of all ages to improve their spending, increase savings and use credit
more wisely. The years between 1984 and 2000, the ICFE was also known as
the National Center for Financial Education (NCFE).
The ICFE is a nonprofit consumer education organization that has helped millions of people through its education programs and Resources. Over
one million "Credit
/ Debit Card Warning
Labels” and "Credit
/ Debit Card Sleeves” are in circulation world wide.
The ICFE's on-line help for consumers who spend too much
was featured in PARADE Magazine (June 9th, 2002) in the Intelligence
Report section. The money helps and tips are from the "Money
Instruction Book," a course in personal finance, which was completely
revised and updated in 2002 and is positioned to become among the premier
programs in the new bankruptcy and debtor education initiatives.
The ICFE's "Do-It-Yourself Credit File Correction
Guide," now in its Twelfth Printing, is in use by thousands of consumer credit and debt
counselors in addition to tens of thousands of consumers. It received a
"buy” rating in July, August and November from nationally syndicated
financial columnist, Humberto Cruz in his column, "The Savings Game".
BottomLine Personal newsletter gave the Guide a "Send For” rating in
September 2001. The ICFE and our do-it-yourself approach to credit file
correction was featured on NBC Nightly News on 04-30-02. The Spanish
edition of the Guide premiered in January 2002. Syndicated columnist,
Robert Heady also gave the ICFE Guide a "buy” rating.
The ICFE Web site at: www.financial-education-icfe.org helps consumers with
mending spending, learn about the
proper use of credit, budget and expense guidelines, how to set up and implement a
spending-plan and also access financial education courses and videos and how to
teach children about money. Other ICFE services include a
free eNews, and an
on-line resource center of financial education
learning tools, including videos, books and personal finance courses.
Consumers may learn more on the Internet about the "Do-It-Yourself
Credit File Correction Guide" here, or fill out our request
form, indicating your areas of interest.
For more information contact Paul S. Richard ICFE Executive Director at 619-239-1401.