If You Date Me, You Date My Debt

Romance can pose challenges to those with large credit balances, student loans or other financial obligations

By Julia Munslow of The WSJ. Excerpts:

"For daters, debt can be a turnoff. In a 2024 survey from the Achieve Center for Consumer Insights, 64% of respondents said they wouldn’t want to date someone with a lot of debt."

"The economics of dating aren’t the only issue. Consider the shame that many debtors feel about their financial health."

"New research from Western & Southern Financial Group found that 27% of Americans waited until after marriage to discuss debt with their partner. And 21% of married Americans have never talked about debt with their spouse.

Talia Bombola, a licensed marriage and family therapist, said couples might feel uncomfortable talking about finances, but it is essential to understand the other’s relationship with money to build a life together.

“If you’re dating casually, there’s not a need to share the debt because you’re keeping it more at surface level,” Bombola said. “But if you’re dating with the intention of finding a long-term partner, it’s important to talk about it.”

If your date has debt, ask what kind and how they are managing it. You want to understand their money habits, Bombola said. Someone with student loans and a plan to pay them off has different money-management skills and priorities than someone who has increasing debt from gambling, she said." 

Pepper…and Salt, from The WSJ, August 22, 2024. 

 Pepper…and Salt, from The WSJ, Sept. 11, 2024..

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