Before being in the red (3)
I believe the answer is:
ere
'before' is the definition.
(poetic term for 'before')
'in the red' is the wordplay.
'in' indicates a hidden word.
'ERE' can be found hidden inside 'the red'.
'being' acts as a link.
(Other definitions for ere that I've seen before include "Before (in poetry)" , "Old word for before" , "Old prior" , "Archaic word for before - a palindrome" , "Before (in time)" .)