By David Seeger, Great Lakes Credit Union CEO and Money Monday expert on WNWO Today
Study after study have identified finances as the greatest point of conflict in a relationship...even greater than infidelity, according to some. That is why knowing the financial background of the significant other in a relationship is critical for relationship success.
According to Manisha Thakor and Sharon Kedar, author of "Get Financially Naked: How to Talk Money with your Honey," it is mission critical that you find a person that is financially compatible with you 'before you tie the knot.'
But discovering the financial status of a potential partner is not always easy or apparent. And what if you are uncomfortable or not that far into the relationship to come out and ask him about something as personal as finances? And if you don't find out before things get serious, how do you back out of the relationships without it becoming messy and expensive?
According to the "Get Financially Naked" book, there are tell tale signs you could look for to give you clues if you are dating a deadbeat. Here are the signs:
1. He always insists on picking up the check at a big dinner or throwing down a credit card without looking at the bill. This may be a sign of a big spender living beyond his means in an attempt to impress his date.
2. He lives in a large but sparsely furnished home. According to the authors, this can indicate that you have big financial plans, but not the cash to deliver on it.
3. He avoids answering calls on his cellphone. This may be a sign that they are avoiding collection calls.
4. He leases a car. Often, but not always, leasing is a sign of a big spender and living beyond their means.
5. He asks you to buy things for him or co-sign loans for him because for whatever reason, the bank is being "unreasonable " and will not give him a loan.
6. Has bills are marked, urgent, past due or final notice found laying around the house.
7. He gets bills in somebody else's name. This could indicate that they cannot get an account on their own and have to get credit in someone else's name. And when confronted they say that there must be some mistake.
8. He admits that his credit cards are maxed out and makes a joke of it and take the whole thing rather lightly. This is a indication of a high roller.
If all else fails, ask him and see what he says and see if his actions matches his words...financially.