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I think the author's first mistake was not in taking out the subprime loan, but in entering a marriage without some kind of mutual understanding of how to manag
by sethg 17y ago
I think the author's first mistake was not in taking out the subprime loan, but in entering a marriage without some kind of mutual understanding of how to manage the household finances.
One of the first things my wife and I did, after getting married (possibly even before), was to set up a budget, including line items for how much money each of us could spend without being questioned by the other.
- gaius 17y agoHe also displayed a lack of financial acumen in his first marriage...
- unexpected 17y agothis brings up an interesting point. Would you make your wife sign a pre-nuptial agreement before getting married? I often see people who have gotten divorced sign a pre-nup, but people I've spoken with around my age group (20-25) seem to be adamantly opposed to a pre-nup.
- asciilifeform 17y agoJudges routinely invalidate pre-nups, especially if the marriage produced children. In the US, there is a curious legal fiction that child support rights "belong to the child" and thus cannot be signed away.
- Chocobean 17y agoI don't know about you, but as a young female of the 20-25 group, if my husband made me sign a pre-nup before the wedding, it will pretty well signal the end of the relationship. It will be interpreted as a sign of "if you don't trust me with everything, i can't trust you with anything." 20-somethings believe in "life long marriage".
- greml1n 17y agoI know three 20-somethings pairs that are still paying off their weddings after getting divorced.
- nostrademons 17y agoI know one who, along with her current husband, is raising her ex-husband's ex-wife's daughter. Mom is 27, dad is 25, kid is 12, and she's not biologically related to either custodial parent.
- Chocobean 17y agoouch. Yeah, getting into debt to pay for a day of partying is a stupid idea, especially in your 20s, regardless of if your marriage lasts. [My will says that my burial/funeral is not to cost more than what i paid for my wedding, which, with rings, is less than a thousand dollars. With inflation, good luck to whoever is stuck with my dead corpse. Most likely by then the only thing $1000 will get you is a straw mat.]
- jdbeast00 17y agothis is the dilemma. if a guy asks for a prenup, he's a heartless jerk. if he doesn't, he risks a huge exposure in the future. lets start a poll: would you want a pre-nup?
- gscott 17y agoIt could work out the other way. Men can get alimony as well. http://online.wsj.com/public/article/SB120700651883978623-wVJmjFPLBLW_KzzQgks74c0dSks_20080501.html?mod=tff_main_tff_top http://online.wsj.com/public/article/SB120700651883978623-wV...
- invisible 17y agoI believe 'we' (20-somethings) should be required to sign pre-nups by the state to receive a marriage license. Or a standard one should be provided upon marriage. It's silly to sign a legal contract with another individual (however in love the two are) without any concern over financial obligation. That's stupid, not selfish/"expecting the worse." People change by health, hormones, situations, and children. That is a fact.