Financial security is one of the most attractive traits to have in a partner, according to a survey conducted by OnePoll on behalf ofLife Happens.
The survey of 2,000 Americans in a relationship found financial security is among the most attractive traits in a love interest, selected by 42% of respondents. This followed sense of humor and intelligence, selected by 44% of respondents each.
Meanwhile, a survey by WalletHub found that, compared with last year, 37% more Americans say they wouldn’t marry someone with bad credit. In addition, 54% say they would break up with their significant other if he or she spent money irresponsibly. Nearly the same percentage (53%) say irresponsible spending is a bigger turnoff than bad breath.
Nearly one-third report that money matters more to them in a relationship now than it did before the COVID-19 pandemic.
The Life Happens survey found it takes five months for couples to feel comfortable talking about their salary and overall financial status. Respondents even reported they’d talk about money before saying “I love you,” which takes an average of nine months. The top discussions respondents have when they’ve been seriously dating for a year included debt (31%), salaries (31%) and joint bank accounts (29%).
Asked about the worst type of money problem for a relationship, 30% of respondents to the WalletHub survey chose “financial secrets.” This was followed by irresponsible spending (25%), high debt level (16%), not saving for the future (12%) and ruining your credit score (10%).
Thirty-nine percent of respondents say the best way for couples to avoid money problems is to have separate accounts, while 31% say it is to have joint finances. Twenty-one percent say couples should discuss purchases before making them. Nine percent believe a prenuptial agreement is the best way for couples to avoid money problems.
FAQs
Financial stability is important not only because it means that you have enough money to pay for the costs of life, but it also provides peace of mind by reducing stress related to money. With this important issue taken care of, you can instead focus on personal goals and overall well-being.
How important is financial stability in a partner? ›
Financial stability is a crucial factor in a healthy relationship and having a stable source of income can provide peace of mind and security. Being employed can also indicate a strong work ethic and responsibility, which are important qualities in a partner.
Why is it important to maintain financial stability? ›
Major instability can lead to bank runs, hyperinflation, or a stock market crash. It can severely shake confidence in the financial and economic system. A common measure of stability at the level of individual institutions is the z-score.
What is financial stability in simple words? ›
Financial stability is a condition in which an economy's mechanisms for pricing, allocating, and managing financial risks (credit, liquidity, counterparty, market, etc.) are functioning well enough to contribute to the performance of the economy (as defined above).
Why is financial stability important in a family? ›
Preserving the Core of Family Happiness Financial stability isn't just about wealth; it's about preserving the essence of family happiness. Access to quality healthcare, a stress-free environment, and the ability to focus on well-being become paramount, fostering a healthier and more harmonious family life.
What is the key to financial stability? ›
Tips for Achieving Financial Stability:
Budgeting: Create a realistic budget to track income and expenses. Prioritize essential expenses, allocate funds for savings and investments, and limit discretionary spending. Debt management: Develop a plan to pay off existing debts systematically.
How do finances affect relationships? ›
More than half of respondents (57%) think a loss of income or salary reduction would negatively impact their relationship. Around 41% of respondents have hidden certain expenses from their partner, and 10% of respondents feel uncomfortable with a partner accessing their personal finances.
How does financial instability affect relationships? ›
The effects of financial stress
It can also lead to physical health problems, such as high blood pressure and heart disease. In relationships, financial stress can create tension and disagreements. Couples may argue about spending habits, budgeting, and debt.
Should I marry a guy who is not financially stable? ›
No, many people find that money issues are a deal breaker.
It's okay if a guy's money problems give you pause. If he's not financially stable and he shows no signs of changing his habits, take that into account when you're deciding whether or not to pursue a serious relationship with him.
Is financial stability is important for happiness? ›
Both a healthy workplace and financial stability are important factors for overall happiness. While their relative importance may vary for different individuals depending on their unique circ*mstances and priorities, both components contribute to a fulfilling and well-rounded life.
Having financial problems means being unable to pay debts over the short or long term. Debt complicates financial management and limits purchasing power. Financial difficulties become a source of stress until all debts are paid.
How important is financial stability for a student? ›
During their college years, having access to that information in the form of classes and learning materials can set a firm foundation for their future financial stability. Your students' level of financial literacy, financial wellness, and financial stress has a significant impact on things like: Drop out rate.
What are the characteristics of a financially stable person? ›
5 Signs That Prove You're Financially Stable
- 1. # Sign 1 - You have little or no debt.
- 2. # Sign 2 - You can pay for monthly expenses with just your or your spouse's income.
- 3. # Sign 3 - You pay your bills on time.
- 4. # Sign 4 - You have an adequate emergency fund.
- 5. # Sign 5 - Your net worth is growing year after year.
