Credit: Matthew Henry via Burst
There are lots of red flags that can turn off a date and convince them that you’re not a good fit for a relationship. Showing up really late. Being rude to the waitstaff. Mentioning your ex over and over again.
Another red flag that might send your date running? Debt. Find out how your debt can hurt your dating life and what you can do about it.
Debt and Dating
Debt can be a real dealbreaker when it comes to dating. It’s not difficult to see why. People would rather start a relationship with someone that brings financial security and prosperity to the table — not someone that’s burdened with overdue bills and maxed-out credit cards. This is even true with people who have debts of their own. They don’t want to add to their own financial troubles.
The type of debt that you have will make a difference. Debts like mortgages and auto loans aren’t usually seen as dealbreakers because they come with assets. If anything, you might seem more desirable for having these under your belt.
Some people might be put off about student debt. Approximately 27% of millennials said they would reconsider a dating partner because of their student loan debts — although male respondents were more likely to do this than female respondents.
Debts that are most likely to garner negative responses are debts from credit cards, payday loans and personal connections (IOUs from family and friends).
What Can You Do?
It depends on how many dates you expect to go on. You don’t have to confess that you’re deep in debt when you first meet someone. But, if you like them, and you want to start something serious, you should disclose your financial troubles. Otherwise, you could commit financial infidelity and sabotage your relationship.
Keeping your debts secret won’t solve anything. It will give you another problem to deal with in the future.
Take the Initiative:
You can make things easier for your future self by taking the initiative to get out of debt as soon as possible.
How do you start? Make a personal budget. Try to squeeze as many savings from your budget as possible. This can help you handle your debt repayment.
Don’t put all of your savings towards debt. This could set you up for more financial trouble. You want to be prepared for emergency expenses that your budget can’t handle. You can also apply for a personal line of credit through CreditFresh to help you tackle emergencies. This can be a safety net for moments when you don’t have enough savings available.
Commit to your debt repayments as best as you can. Try to pay your bills on time to avoid additional fees. Contact your creditors to see if you can strike a better deal with them. These are just some of the ways that you can tackle this problem.
Talk About It:
When things get serious, you should talk about your money problems with your new partner to let them know what they’re getting into. To soften the blow, you can let them know that you’re taking the initiative to solve these problems. Share your progress and show them just how far you’ve come. You’ll prove how responsible, dedicated and committed you are. You can turn this flaw into a positive!
Dating is hard enough as it is. Don’t let your debt make it even harder. Deal with your money problems now so that they don’t stop a relationship before it starts.
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