Why You Should Know More about Your Partner’s Credit Woes

Why You Should Know More about Your Partner’s Credit Woes

­­Why You Should Know More about Your Partner’s Credit Woes

Entering a new relationship can be wonderful and exciting. But it is one that comes with a huge responsibility as well, especially for two consenting adults. While it is easy to get blinded by love, it is oftentimes wise to first know more about your partner’s financial standing, especially if talks of marriage start floating in the air.

In a recent survey, 500 men and women who are living in the United Kingdom were asked about what they think are the most important factors to consider when choosing a partner. Survey showed that 80.8% of the respondents indicated personality compatibility; 56% of them considered physical appearance; and 46.8% implied age. It was very noticeable that employment (15.4%), financial stability (10.4%), income (4.8%), and a good credit score (1.4%) are the least important factors of all.

These numbers are very alarming indeed, as it is a known fact that finances is one of the biggest sources of arguments between couples. The same survey also revealed that one-third of the British population is not even aware that the money problems of their partner could affect their own.

Such were the ‘nasty surprises’ that couples refer to. Worse, they may only come out after the knot has been tied. One partner will definitely be surprised if they got turned down for a loan or a joint bank account for no apparent reason. As you can see, not knowing that your partner was under a bad debt, has bank defaults, or had declared bankruptcy previously is going to be a huge problem. The third of the British population who chose not to discuss financial affairs before marriage is the group likely to face these issues.

The tides are somewhat better in the United States, where couples tend to tackle financial issues between each other more seriously. A similar survey was conducted among American adults and almost half of the respondents affirmed discussing credit scores with their partner, regardless if the relationship is getting serious or not.

While things tend to look too rosy and almost perfect for people in love, it is also important that, at one point, couples get back on their feet and face the realities of life. And one’s finances prove to be a huge reality to face. Have a serious talk about it over a cup of coffee. Even if finances play a major role in married life, couples who are truly in love should be able to work things out nice and easy. Without the nasty surprises, no profanities will arise; and even the worst financial issues may just slide. Think about it.

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