What Your Dating Prospects And Your Finances Have In Common

Written by Lindsey Burgess  |  on

I’m sure you are very pretty and/or handsome and excel at witty banter.

But according to a recent study by So-Fi, if you are seriously in debt, your nice hair and charming comebacks may be irrelevant.

So-Fi surveyed 2,000 Millennials to learn more about how they think about debt in the context of their love lives and here’s what they found out:

Debt Is A Deal Breaker

At least for 20.9% of respondents, which isn’t a majority but it beat being cheap (16.6%), having a dead-end job (16.4%), being divorced (14.5%), and even being a bad dresser (10.2%). Apparently, the only thing worse than harboring a lot of debt is being a workaholic (21.4%).

Earning Potential Isn’t Everything

Debt-aside, respondents weren’t overly hung up on money. Only 11.3% said they look for graduate degrees on online dating profiles. An overwhelming 64.2% said they were mostly concerned with a generosity of spirit and 24.5% said, they weren’t concerned about it because they were making enough to support two people.

Get It All Out On The Table

If you do have debt, when is the right time to bring it up? The jury is out on this one. 29.9% of respondents said once the relationship is exclusive and a surprising 57.6% said not until you are sharing household expenses.

It may well be a tough conversation, but you can’t build a relationship on a lie. Although, apparently you can try—23.8% of respondents had been lied to, by a date or partner, about how much debt they were in.

Money Isn’t Everything—Until It Is

36.1% Millennials said there is no price that is too high for love. Awww. 55.4% said that money isn’t everything and they wouldn’t dump someone over debt. Love is alive!

But when asked how much debt it would take to consider not marrying or committing to a lifelong partner the numbers don’t lie:

$10k-$50k is just too much—16.7%
$50k-$100k is just too much—22.8%
$100k+ is just too much—24.4%

The intent of this article isn’t to depress you. But maybe it will be just the motivation you’ve needed to tackle your debt with everything you’ve got.

This is a perfect time. While you are waiting for Mr. or Mrs. Right—take control of the things that you can change—your finances! Get serious about what is most important to you, start tracking every dollar, and make a plan. And when your soulmate sees that you love long walks on the beach and saving for your True Expenses, life will never be the same!

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Your Next Step

Budgeting is not restrictive. You won’t be spending less, you’ll be spending right. So what do you have to lose? Except all that debt and stress?