Americans Refuse To Date Partners Earning Less Than This Salary Or Carrying This Student Debt, According To Studies

When love is in the air, the conversation about finances might not be a romantic one, but recent surveys suggest that it is a necessary and crucial dialogue for couples. 

A surprising 64% of people in relationships face money differences, underlining the need to address financial topics early on before they become major problems. This becomes even more important as relationships get more serious, like moving in together or getting married.

Financial Deal-Breakers: Personal Loans And More

Personal loans emerge as a resounding financial deal-breaker, taking the lead in a survey by Western & Southern Financial Group. The prominence of personal loans is followed closely by credit card debt, a lack of financial literacy, irresponsible spending habits and student loans. While having student loans poses a significant financial burden for many, they didn't emerge as a top deal breaker across the generations surveyed. 

Despite the average student loan debt hovering around $28,950, respondents indicated a lower threshold of $28,076 as a potential relationship deal-breaker. This nuanced view suggests that borrowers with well-structured repayment plans could potentially inspire greater confidence in their partners. 

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Different generations demonstrate varying attitudes toward financial deal-breakers. Personal loans are particularly off-putting to baby boomers and Gen Xers, while millennials raise a red flag at the prospect of credit card debt. On the other hand, Gen Zers value financial literacy in their partners, and any hint that it is lacking is a potential deal-breaker.

Salary: The Unspoken Elephant In The Room

The study further accentuates the importance of early financial talks. One-in-three couples admitted waiting until after marriage to delve into financial matters. Among the top subjects they wished they had tackled sooner, salary emerged as a significant concern. Respondents disclosed that they desired partners with a minimum salary of just under $30,000. According to Forbes, the average annual salary nationwide is nearly double that at $59,428 as of 2023.

 Investments: Growing Wealth Together

Out of the respondents, 34.6% revealed engaging in disagreements with their partners over investment decisions. This snagged the second spot, just after spending habits, and trumped concerns about debt, salary and savings. 

Investment habits took the runner-up position again, as survey participants acknowledged wishing they had broached the topic earlier in their relationships. Emphasizing the need for mutual understanding, being aligned or having conversations about investments with your partner is crucial.

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Money Matters: Arguments Over Spending 

Disagreements are a natural part of any relationship, and financial matters can amplify tensions, sometimes irreparably damaging partnerships.

The survey uncovered that arguments often revolve around how partners spend money, especially among millennials, who were born between 1980 and 1996. As pandemic restrictions eased, the concept of "revenge spending" — spending more after being stuck at home — might be causing some of these conflicts. Whether it's a result of pent-up wants or other reasons, being mindful about money could help protect both your wallet and your relationship.

Bank Accounts: To Share Or Not To Share

Combining finances can sometimes lead to disagreements about spending among couples. According to the study, over half of couples who share a checking account mentioned that their biggest fights are about how each person uses their money. The details of money choices can quickly turn into heated arguments.

Many women expressed a preference for having their own savings account to prevent such conflicts. This preference was particularly strong, with women being 29% more likely than men to choose this option. 

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