Could Your Spouse Have Secret Debt?

By

struggling with finances
Do you know if your partner is deep in debt? Prevent financial infidelity with these tips.

Coming home from vacation is so hard! While you're swinging in a hammock in paradise you forget your long list of things-to-do, your bills, your diet and your boss. Coming home is a startling return to reality.

Josh's return home was especially startling.

 

Home from Maui with his new bride, he went to their bulging mailbox to retrieve the mail. He wondered how two people could get this much mail in just one week? At least the wedding and honeymoon bills hadn't arrived yet. He hated to think of the bills they racked up in the last few weeks! But a wedding and once-in-lifetime-trip was worth it and he knew he and Paige would remember this time forever.

Then a feeling he'd soon want to forget hit him. His heart sank, his stomach turned to knots, a $10,000 credit card bill?! Whose was this? Did his neighbor's mail get stuffed in their box? Was there some other Paige McCancy? There had to be some mistake!

Unfortunately, the mistake was a lack of full disclosure. Paige hid her debt from Josh while they were dating because there never seemed to be a good time to bring it up. She thought Josh was so sweet but he always worried about money. When they started planning the wedding and the honeymoon, she figured mentioning her debt would push him over the edge. So she told herself she'd tell him later.

Like the flash floods in Maui, this rush of information has the potential to damage everything. But it doesn't have to. The damage is done. The debt is real. What can they do now?

1. Get all the facts on the table. All of them! Was this debt for needs — schooling, car repairs, medical expenses, etc.? Or was it for shopping, lattes and tanning beds? There's a reason we vow to each other about money in our wedding vows. Her debt is now their debt. Keep reading ...

More marriage advice from YourTango:

This article was originally published at . Reprinted with permission.
Article contributed by

Scott And Bethany Palmer The Money Couple

YourTango Expert Partner

The Money Couple, Scott & Bethany Palmer are parents, finance experts, authors, and regulars on national TV and radio. With 40 years of combined financial planning experience they launched The Money Couple to help couples and families improve their relationships with love and money. Scott and Bethany enjoy an active lifestyle living in Colorado with their two sons, Cole and Cade. Pre-order their NEW BOOK, The 5 Money Conversations To Have With Your Kids At Every Age and Every Stage

Take the FREE Money Personality Assessment!

Sign up to Raise Money Smart Kids with Scott & Bethany's new FREE video series

Learn more about The Money Couple's video series Raising Money Smart Kids

Location: Colorado Springs, CO
Credentials: Other
Other Articles/News by Scott and Bethany Palmer The Money Couple:

4 Ways To Teach Your Kids Credit Savvy Money Skills

By

My son Cade and I were shopping the other day when he asked me to purchase something for him. I told him, "Sorry, bud. We can't afford it." His reply hit me like a brick in the head: "C'mon, Dad, don't worry about having the money today, just put it on a credit card!" Holy sh*t, I thought to myself. I've been a ... Read more

Do Your Kids Have A Bad Case Of The Gimmies? 3 Ways To Cure Them

By

Forget cold and flu season. This time of year, kids come down with a bad case of the "gimmes." With all the new toys, new technology, and mega sales, wanting more is pretty contagious, but the "gimmes" aren't fatal. You can help your child, and your entire family with these parenting tips that encourage a spirit of thankfulness ... Read more

5 Signs Your Child Might Be An Entitled Brat (Thanks To You)

By

Once upon a time, parents feared their children wouldn't have enough. Now we fear our kids have way too much. You want to give your child every advantage you never had, but where is the line between investing in their growth and happiness and raising an entitled brat?  The main difference is noted in their attitude. A "spoiled" ... Read more

See More

 
Latest Expert Videos
ASK YOURTANGO MORE QUESTIONS
Must-see Videos
SEE MORE VIDEOS
Most Popular