With Valentine’s Day around the corner, here’s a refresher on how your money affects your love life—and how your relationship can effect your finances, too.
It can help you attract a life partner. That is, if you’re good with money. Studies show that those with high credit scores are about 14 percent more likely to find a significant other this year than those of you with balances and late fees. This doesn’t mean they’re golddiggers, because you don’t have to be rich to have a good credit score—you just need to be responsible.
It can also drive your partner away. Arguments over money are a major dealbreaker and cause of breakups and divorces among couples. Make sure you and your partner are on the same page before you make any legally-binding decisions about your relationship one way or the other.
It can make or break a first date with an upper middle class partner. CBS News reports, “More than half of people earning $100,000 or more said they wouldn’t go on another date with a person whose card was denied, compared with 39 percent of those with income below $50,000.”
You can inherit debt. If your partner is financially irresponsible and you don’t have a solid prenup and separate accounts, seriously, do not get married. At least not yet. Love yourself and love your own future enough not to hitch your wagon to a stupid star.
It can harbor distrust. CreditCards.com reports that nearly 13 million people have hidden a bank account or credit card that their partners don’t know about—and that 20 percent of those in a relationship have spent more than $500 without telling their partner. Still, those accounts may not be for bad things: A lot of people open them to plan surprises for their partners that end up being pretty sweet.