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Editorial
Bad times make good marriages?
Wednesday, June 4, 2014
People who went through Tuesday's storm in other parts of the state probably don't believe the old adage that "every cloud has a silver lining."
At least one credit expert thinks it is true, however, if we're talking about the 2008 recession.
Bad financial times apparently caused more couples to take steps to have good marriages, Becky Frost of Experian Consumer Services told CNNMoney.
Conflict over money is usually listed as one of the major causes of divorce, and the recession may have driven that point home, causing many married couples, and couples planning to marry, to deal with the issue in a timely manner.
"If you have a spouse who lost his or her job, that would definitely bring finances and money to the forefront of the family economics," Becky Frost, consumer education manager at Experian Consumer Services said.
Among Experian's findings:
* More than 60 percent of post-recession couples discussed their credit score before getting married, compared to only 35 percent before.
* More than 80 percent discussed financial goals at least monthly, compared to 65 percent before.
* After the recession, couples said they would discuss a purchase that costs an average of more than $256 with their spouse before making it, compared to $1,000 before the recession.
June brides and their husband-to-be have plenty of things to think about before the big date, from colors to clothing to the reception and honeymoon.
While those will become a memory within a few weeks, however, credit scores are a detail that could have an impact that will affect the marriage for years to come.