Yes, you should dump him because of his poor credit score

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Yes, you should dump him because of his poor credit score

reposted from
by Mary McCoy

sheknowsWhen I was in my early 20s, I fell in love with a guy who had an abysmal credit score.

He was open about it, and I was willing to give him a chance. After all, love conquers all, right? Right, until he stole my social security number and financial identity just a few weeks before our wedding.

This experience got me wondering — is a bad credit score a relationship deal-breaker, or is it just a red flag? (Because, like it or not, a bad credit score is telling you something.) 

The all-important credit score

“How you do one thing is how you do everything,” says Mackey McNeill, a CPA financial planner from Bellevue, Kentucky, and CEO of Mackey Advisors. In other words, the way a man manages his money is indicative of how he manages his life.

Of course, there are always extenuating circumstances like an illness or job loss, but a credit score can be a symptom of a substantial character flaw. McNeill explains, “If someone has bad credit, it may mean one of several things. First, he doesn’t make or keep commitments. Second, he doesn’t manage money well. And last, he isn’t consistent at making money, either because he’s too risky in his own business or he doesn’t make a good employee.”

Ouch. Sadly, it doesn’t end there. Beyond the character issues that may make a relationship challenging, women need to consider what a partner’s bad credit score may mean in her future. “When you apply for joint credit, both credit scores are considered,” McNeill went on to explain. That means that your guy’s bad score may stand between you and the future you want for yourself — like a house, children and even an emergency fund. All of these desires are hugely important as you try to build a relationship with a man, no matter how hot or funny he is.

What’s a girl to do?

If your guy has a bad credit score, it’s important to determine if he’s a man who’s made mistakes and wants to change, or if he’s committed to money mismanagement. The first is just a red flag, and the second is a deal-breaker. “Anyone can make changes in the short term,” says McNeill. “Women need to see at least six months to a year of good money behaviors before choosing to stick around.”

I’m here to tell you that McNeill is spot on. Ultimately, my fiancé apologized and cleaned up his act for a few months, but he never figured out how to pay off his debt to me and others, how to live within a budget and how to talk with me respectfully about money management. I ended up sticking around for long enough to lose many more dollars and several more years before I realized that he was more committed to his bad credit score (and its accompanying behaviors) than he was to me.

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By | 2017-05-09T22:13:15+00:00 October 13th, 2014|Categories: Press Room|Tags: , , , , , |Comments Off on Yes, you should dump him because of his poor credit score

About the Author:

Author, speaker and fearless leader of the Prosperity People, Mackey McNeill is a passionate entrepreneur dedicated to creating prosperity in the lives of her clients and within her community. She has merged over 30 years of expertise as a CPA and Personal Financial Specialist with her knowledge of internal alignment to create The Prosperity Experience: a planning program rooted in self discovery and financial self actualization. A sought after thought leader on the subjects of money and intention, Mackey has been quoted in The Wall Street Journal, The New York Times, TIME, Money, USA TODAY, and Reader’s Digest, along with many other publications.