Debt, debt, and debt; the pressure of paying off outstanding debt is almost in every household in our nation.
The Federal Reserve Bank of New York has revealed that the household debt was rising high from the year 2004 to date.
The total household debt in America is $12.96 trillion. This is an increase of $280 billion from the end of the year 2008.However, the good thing is that the adverse effect of debt on financial health force people to incorporate good financial habits.
Even many people have started avoiding credit card debt and payday loan debt.
They have started saying "No" to a person to get married or live-in who has credit card debt.
As per the survey of finder.com, most of the Americans don't want to accept credit card debt in partners. 77.55% of people said credit card debt is risky. 77.35% of people said payday loan debt is also most unacceptable in partners.
In short, people have started judging their partners on the basis of their credit card debt.
The higher your credit card debt is, the more undateable person you are.The credit card debts including payday loans and personal loans can damage your dating potential. Because these types of debts signify poor budgeting skills of the debtor.
Thus, to start a love life or family, you have to say "Goodbye" to your credit card debts and stay away from further debts.
Once you are free from all the higher interest rate debts, you don't have to worry about being single forever.
How can you be financially more dateable?
1 Become financially stable first
As per the data, good looking, good sense of humor, and good taste of fashion are not enough to attract a good partner. If you don't want to stay single forever, you should have a good financial record including zero credit card debt, zero payday loan or personal loan, minimum student loan debt, and zero medical debt.
In fact, the good credit score you have, the more dateable person you can be.Yes, we all know that having a good credit score helps to get better loan terms, a good job, and a decent rent deal. But, now your credit score is also a parameter to judge how financially stable partner you are.
A recent survey was conducted among 2000 online daters. 58% of respondents agreed that having a good credit score is more desirable than a pricey car, 50% of respondents said good credit score is more attractive than a good job designation, 40% of people said they prefer a good credit score over a good body.
Most of the people said that they wish to have a mate who is financially responsible.
A financially responsible person is more desirable than an attractive, ambitious, courageous, and modest person.2 Have a money talk with your date
Once people, especially couples, hesitated to discuss money with their partners. It was a forbidden and most unromantic topic for them. But after surviving the great recession, people are becoming more money conscious.
They have started finding the reason behind their financial insecurity.
Now they know, the unsecured debts are the main culprits. Thus, they are considering “money discussion” as one of the crucial things before tying the knot. To become a more financially dateable person, you need to be an open diary regarding your finances in front of your date.7% of online daters have agreed that they will disclose their financial status before fixing a date with a person. They want to discuss money within the first six months of a relationship.
3 Improve your credit score
Improving credit score is the key to impress your date. There are many ways to improve credit score. Some tips are as follows:
- Check your credit report on a regular basis. If you find any mistakes, dispute them with the 3 major credit bureaus.
- Don't miss any payments like debt, utility bill, rent, library fee, car parking ticket, credit card bill, etc.
- Try to pay the credit card bill in full and within the stipulated time.
- Set up a payment reminder to make the bill payments on time.
- Automate your bills to avoid missed payment penalties.
- If you are facing financial hardship and unable to pay your current credit card bill, then talk to your creditors mentioning the hardship to get an extended payment plan.
- Try to talk to the creditor before they take any adverse action against your account.
- Don't open unwanted credit card account just to increase credit history.
- Don't close multiple credit card accounts all of a sudden.
4 Share your childhood memory
Upbringing creates a great impact on us. Thus, you can share how your parents handled their finances. For example,
Share how your mom had managed the household finances in past. And how this helped you to learn some vital money managing tricks.
You can also share your memory of earning pocket money from your parents.
By doing so, you can portray how money-conscious you were from your childhood.
5 Appreciate your date if he/ she possesses good financial insights
If you come to know that your date has profound knowledge in finance, then you have to appreciate it. If you show your ego in front of your date, you will not be able to win your date's heart.
6 Share your financial goals
You should share your current and future financial goal with your date. Discuss the strategies that you are following to achieve the goals.
7 Don't hesitate
Try to be a straightforward and honest when you are talking about money matter with your date. If you have credit card debts, then don't hesitate to tell the truth. Tell them how much you are trying to get out of it. Share the debt payoff strategies with your date. Assure the person that you can get out of it sooner.
Lastly, financial discussions are no longer a "Hush Hush" matter among couples.
Having a financial discussion can make you more attractive to your partner. So, try to become free when it comes to discussing finances with your date. You can also share the reason for falling into debts. Remember, people always value an honest partner. There is no replacement for honesty.
