How comfortable are you with talking about money with your significant other? If you’re not then your relationship could be heading for disaster.
One of the signs of a healthy relationship is the ability to recognize the significance of money without letting it overwhelm what’s most important: love and trust.
That being said, a highly charged romance can only keep a lid on financial issues for so long.
Check out these 6 surprising ways how your finances can impact your love life and how you can prevent money from ruining your relationship.
1. Talking about money more often lead to a happier relationship.
One of the most common questions many people have while dating is when and how to talk about money in a relationship.
Good communication is one of the hallmarks of a successful relationship.
Although talking about money might lead to some arguments but discussing finances promotes not only a healthy relationship but a happy one too.
Our survey shows that an overwhelming majority of 80% of those that talk about money at least once a week with their partner are happier than those that don’t.
Discussing money is important because you’re not just sharing financial details — you’re also sharing personal feelings, goals and intimacies.
Sharing common goals can help align couples, and discussing money is a useful way to find out more about your significant other and bringing interests together.
2. Student loan won’t scare off potential prospects.
Sometimes, debt can be the kryptonite to an otherwise healthy relationship.
From our survey, we have found out that 52% of people have ended a relationship because of money issues such as debts, loans and such.
But, there’s good news for college students and grads looking to build a
It’s surprising that something as burdensome as student loan doesn’t matter much to people when choosing a partner.
3. Credit card debt make you less desirable.
Another surprising discovery is the impact of credit card debt on dating.
One possible reason credit card debt is seen as more of a turnoff could be its social stigma.
When you have significant credit card debt, a potential partner might assume you’re in credit card debt because of your irresponsible spending habits.
But if you have student loan debt, a significant other might view you as a smart investor.
So, if you want to increase your chances of having a healthy and happy relationship, take steps to get rid of credit card debt.
4. Paying for your date makes you happier.
If you’re looking to make yourself happier, try paying for your date.
The survey shows that people are happier in relationships if they pay for dates or at least split the check.
Paying for a date might make the other person to feel taken advantage of but it those paying the bill to feel really good about themselves.
To take care of someone and show them a good time boosts one self-esteem.Which is why something as small as paying for a date’s dinner can make you feel good about yourself.
5. If you own a home, your partner will see you as more financially independent.
If you really want to prove your financial independence to your partner, the best way could be to buy a house.
House ownership is seen as a goal as well as an asset and a hedge against the future.
Owning a home provides livelihood and an ideal setting for raising a family
However, the most important aspect of house ownership is the happiness and security it gives couples.
6. Having money to go on vacations is key to a happy relationship.
Taking vacations together is an activity that often gets overlooked as a valuable investment.
But from our survey, we found that going on vacation at least once a year with your partner makes the bond stronger and increases intimacy level.
It’s important to have money to buy a home and raise a family, but don’t ignore the significance of taking time off to make memories together.
Try new things and just enjoy each other’s company without going overboard with the spendings.
Plus, planning a vacation is like saving to buy a house or budgeting for groceries — you’re managing money as a team, which brings you closer together.
Vacations are important to mental health for couples and prioritizing vacation finances will absolutely create happiness in relationships.
Happiness, money and relationship go hand in hand.
Being financially stable and independent enough to make your own financial plans makes you and your dear one much happier.
We here at WMA are committed in empowering people with the right financial education, knowledge and proven skills in order for individuals to attain financial freedom and a balanced life between love, relationship and money.
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Lastly, wishing everyone a very Happy Valentines <3