Need another reason to get your finances in order? Do it for love.Posted: Updated:
A couple’s wedding vows may include the phrase “for richer or for poorer,” yet many individuals still place a high value on financial security. In fact, 43 percent of respondents to Money Management International’s (MMI) 2009 Love and Money Survey (both married and single) consider a “low debt level” an important trait that has an impact on a relationship. In addition, 40 percent of survey respondents highly value a good credit history and 34 percent highly value adequate savings.
For those looking for love, these survey results are a clear call to action: getting finances in order now will not only make you a more attractive prospect, but will help build a healthy relationship once you find a partner.
For those already in relationships, the financial experts at MMI suggest you take the following steps.
• Start by having a frank and open dialogue to discuss where you stand today.
• Next, make a joint commitment to better your family’s overall financial position by paying down debt and establishing a savings cushion.
• Finally, set up a time to meet each month to discuss your financial goals and expectations.
Because money matters, the experts at MMI recommend that consumers devote more time to improving their financial position. Being honest with yourself and loved ones about your financial past and future is an early key to success. Remember that everyone has their own money style, which has been shaped by their past experiences. Approaching the issues honestly and openly gives you a much better chance at a strong, healthy financial relationship.
For more tips on love and money, check out our latest eBook at http://Love.MoneyManagement.org.