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Would you marry someone in debt, if so what types of debt are acceptable to you?
Would you marry someone who had a net worth 10% of yours?
1. Yes, some debt. Debt for things like vehicle (not over the top), mortgage, and home improvement type of stuff.
2. That would be a wide gap, so probably not.
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Some debt for most is common so that would not and was not an issue with me when I married my husband, we both had debt for different reasons.
The whole net worth thing is beyond me, I never asked and would never ask someone's net worth whether I was to marry them or not. I did not and do not base my relationships (romantic and otherwise) on net worth in a financial sense, I base my relationships on net worth of the entire human as they are as a human.
Too general. I would not have specific percentages of net worth, or dollar amounts of debt. It would be dependent on full and complete financial data, willingness to handle and service that debt, potential for and acceptance of prenups, etc.
At the extremes, I would consider and analyze the fact before making a decision, but there is no one single generalization I could make which would be a definnitive deal breaker point.
Now all that non-commital stuff said, I would disagree with those who feel finances do not matter enough to be part of the equation. A lot of finances stuff are minor enough they should not be deal breakers, but poor financial management, or financial trouble is a cause of division in a lot of marriages too. So it does matter, and it also matters differently for different individuals. Basically, the couple has to be content with each other's financial plans and situations no matter what the particulars are.
Depends on the type/amount of debt vs income. They make 40K a year and drive a 35K car with more than 2 years left to pay? Um, no... just no. Too much car for that income. Good indication on how they handle their money.
Let me ask the gallery this: Would you rather marry someone with $25k of credit card debt only (but they have a stable, middle-class career) or $100k of student loan debt (same stable, middle-class career)?
It sounds like the prevailing mindset is that education debt is good debt, even though it's not dischargable in bankruptcy and a "degree" isn't worth what it used to be. I don't understand this mindset at all, but many still have it.
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Quote:
Originally Posted by subPrimeTime
It sounds like the prevailing mindset is that education debt is good debt, even though it's not dischargable in bankruptcy and a "degree" isn't worth what it used to be. I don't understand this mindset at all, but many still have it.
It is a bi-product of the culture in the US that worships higher education at any cost. Never mind there are people who have no business in college. Never mind there are little publicized options such as vocational-based 2 year degrees at most comm colleges, trade schools, public emergency services, IT certification classes not a part of a degree program, military training, working your way up after going grunt work etc.
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