5 Ways Your Money Affects Your Love Life

love or money dollar bill heart shape valentine's day couples joint accounts joint checking accounts joint savings accounts

Marry for love, not for money … but avoid joint checking accounts in case your partner did the opposite. | Source: ShutterStock

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.

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