You’re in love. He’s perfect. Likes the same things you do. You have fun together. You can stay up all night talking. The chemistry is incredible. Finally, a man who shares your values about life, work, children, family. You want to spend the rest of your life with him.
So now it’s time to talk about money, you know, beliefs, attitudes, expectations and yes, FICO scores. How boring! Who cares about credit ratings? We’re in love. Oh God, this is the conversation you really don’t want to have. You take a deep breath. You check out www.myfico.com.
Your FICO score is 815. You learn that his is 674.
Here lie dragons; FICO scores don’t lie. And so much of our financial life depends on them. They’re a transparent look at how we conduct our money life. How much credit do we use? How much do we owe? How promptly do we repay our loans? How much do we repay at a time? How many late charges do we incur? What is our interest rate? How many credit cards do we owe on? You get the picture.
You know that people who manage their finances in a responsible manner tend to also manage other important aspects of their lives responsibly. You know that a high score indicates an ability to delay gratification, to address a problem before it gets out of control, to work towards a goal. But you love this man so much.
A low FICO score is a red flag for lenders. And you know that, whatever you take on financially with this wonderful man, will impact you too. Not fair! If they really knew him, they’d understand how perfect he is for you. Why can’t they see what you see?
Consider this. They know something you should pay attention to before you join your life with his. They’ve seen millions of people raise their FICO score when they start paying attention to the details. They won't trust or bank on him until he shows he can change his financial ways. Neither should you.
Sharing FICO scores is not romantic, but it’s definitely intimate.
What do you think?
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