Debt and marriage

[Checkered24]

Originally Posted by steelstress

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.

Actually, this sounds like it could be an example of how they do know how to handle their money. If they have made it to the last 2 years of payments on a car that would appear overly expensive for their income, it could be a sign that they do not squander money and are very financially responsible to afford that vehicle too.

I am sure there are people who think my wife and I live well beyond our means based on our cars and house compared to our relative income. Yet, we own it all outright and have plenty in the bank.

That's why the specific details must be accounted for, and not just sweeping generalizations.

[*Sixy*]

Originally Posted by subPrimeTime

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.

Not all education debt is good debt. It would depend on what they went to school for, and what their earning potential is.

Someone who spends $100K on their education to become a teacher is not financially responsible in my opinion. A person that spends $100K on a highly technical or specialized field with a better earning potential is a different story.

[subPrimeTime]

Originally Posted by The Dissenter

It is a bi-product of the culture in the US that worships higher education at any cost.

You're correct, but let me adjust your sentence a little bit: It is a bi-product of the culture in the US that worships credentials at any cost.