Money Mgmt Skills For Brides

Dr. Taffy, I have been engaged for about three months. My fiancé and I have discussed finances but only as it pertains to our wedding. How do I reveal to my fiancé that I have debt.
Fearing financial disclosure

A: Dear Fearing financial disclosure,
I applaud you for wanting to be open with your fiancé about your debt because you should be. What I recommend you do is the next time you are together, share with your fiance’ your desire and willingness to be upfront and honest about your finances and money management habits so that it will not be a problem in your marriage. You are sharing so he has a clear picture of you even in handling money. Share the good and the bad. Even if you have to spell it all out on paper the different credit cards, student loans and what is owed, then do that. This way there is nothing hidden.

My husband and I actually had this discussion when we were dating, the only difference is that I asked him first what debt he had. Once he revealed it all to me, he asked me what debt did I have. When he asked me, it was one of the hardest things I had to do was admit I had made mistakes even financially. The outcome of it was it actually brought us closer together. We learned we could trust each other on another level and worked through this situation together.

Maybe you and your fiancé both do not have debt, but since you do it is an area that you should begin working on together now versus being surprised after you return from the honeymoon.

I pat you on the back for broaching debt before marriage, especially because money is one of the number one causes of divorce.

I wish you financial happiness now and throughout your marriage,
Dr. Taffy