Striking Out In The Romance Department? Addressing This Personal Finance Issue Might Solve Your Loveless Blues & Money Woes
When it comes to picking a potential romantic partner, different people have different preferences. From height to educational attainment to hobbies, a person would typically look for someone who might share similarities or seem compatible with them. These factors are common enough in the modern dating scene but what most don’t know is that there are people who consider a date’s financial details.
Dating & Finances
This group is composed of the users of the online dating site Credit Score Dating. In this matching service, people are asked questions regarding their personal finances such as whether they have student loans. Even more interesting is that user profiles have the person’s credit score listed. Users can even filter their matches based on whether the other individual disclosed this information.
Although a dating site is hardly scientific evidence that a person’s credit score may affect their chances of developing a relationship with someone, the same topic has actually been explored by a study by the Federal Reserve.
The research concluded that those who have good credit scores are more likely to have a successful relationship. Knowing how money matters affect marriages, this finding may not come as a surprise. Couples with a partner that’s got lots of debt may be at a disadvantage.
Psychometric Credit Scoring
There’s also the fact that the way people handle their own finances can be a telling sign of what their real values and personality are and if these will clash against their potential partner’s. What more, credit scores have a correlation with two specific qualities: agreeableness and conscientiousness.
This is where the practice of psychometric credit scoring comes in. Companies who employ this method might ask a simple question like whether one makes their bed every morning to determine whether they may be too risky to lend to.
Still, it’s worth acknowledging that reducing other people to a number can be dehumanizing. Love is also a complicated feeling that’s got to do with a lot of other things other than money and credit scores.
Matching Financial Styles
This doesn’t mean that a person should completely ignore a date’s financial habits altogether. Experts recommend people to find someone who might have similar long-term goals and money management skills as them.
This information can then be gleaned through casual, no-pressure conversation instead of reducing everything in a dating profile. One good starter question is asking a date about their preference when traveling at a younger age or saving it for retirement. Let the discussion naturally flow from there.
Of course, couples who do end up getting more serious are bound to have a more detailed talk about money and finances later on. Experts believe that partners should have discussed topics like income, savings, and debt before getting engaged.
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