When saying their wedding vows, a lot of people don’t think too much about the “for poorer” bit. However, financial trouble is a major contributor to unhappy marriages. In order not to get your hopes of eternal marital bliss dashed, it helps to know where you stand financially before tying the knot. Should you marry someone with debt? We’ve rounded up advice from the experts including the Financial Consumer Agency of Canada and RateSupermarket to help you make the decision.
Your partner’s debt isn’t yours, but…
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Your partner’s debt is yours if you co-signed
Marriage will affect student loan repayment assistance
Your partner’s debt will affect your going back to school
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Joint credit cards can have a higher interest rate
Be careful about making your spouse an added cardholder
Be careful about being the added cardholder
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Simply living together may not be the solution
Your partner’s debt may affect you after their death
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