Happy Valentine's Day!
Did you know your credit score can do more than affect your ability to secure a loan… It can also affect your relationships! According to research conducted by the Federal Reserve Board in 2015 people with the highest credit scores were more likely to form long-lasting committed relationships.
The larger the discrepancy between a couple’s credit score, the more likely the relationship would end within the first 5 years. (source)
Better yet, couples who regularly talk about money are happier in their relationships than those who discuss finances less frequently: 42 percent of participants who said they talk about money at least once per week described their relationship as “extremely happy.” (source)
Approximately 31% of all couples clash over finances at least once a month, usually over a bigger purchase! (source)
As you can see, healthy financial practices, regularly discussing money and purchases, and keeping your credit score in good standing are super important factors in your romantic relationships!
How to Talk About Money With Your Partner
- How much do both of you make?
- Do you have student loan debt?
- Are you comfortable carrying credit card debt?
- How should you, as a couple, handle money?