USA
USA
USA Canada
Credit Card News
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Other » Couples Say Debt Not a Dealbreaker

Couples Say Debt Not a Dealbreaker

Add to Favorites:
Couples Say Debt Not a Dealbreaker
February
1

Just in time for Valentine’s Day, a new survey says most people wouldn’t end a relationship if their significant other was more than $10,000 in debt. But most also said they would not help pay off that debt.

The Chase Blueprint Valentine’s Day Survey asked people how they would respond if their partner told them they had $10,000 or more of credit card or other types of debt. Only 6% said they would break up with their partner – or even consider breaking up. Nearly three-quarters (74%) said they would have a talk with their loved one before resorting to that.

Most partners said they would not help pay down that debt though. Responses varied along gender lines. Men were more likely to want to help their partner pay off debt with 18% of them offering to help, while only 8% of women said the same. Women were slightly more likely than men to want to talk about debt – 78% of women wanted to talk, versus 70% of men.

Money talk should happen early

As far as when couples should discuss financial matters, 65% of people surveyed said the money talk should happen within the first three months of a relationship. Another 30% think sooner is better, saying that money should be a topic of discussion right off the bat on day one. More men than women wanted to talk finances up front, with 37% of men and only 24% of women saying that money should be discussed from at the very start of a new romance.

Although 94% of those surveyed said that financial compatibility is vital to the health of a relationship, 62% said they thought that achieving harmonious spending habits is difficult or impossible. Nearly half of the respondents (47%) said being in a relationship makes it difficult to manage their finances.

Single people think relationships complicate financial matters even more, with 57% saying that if they were involved with someone it would be harder to manage their money.

Valentine’s Day: Good time to talk money

Valentine’s Day is a good chance to have that talk. Couples should take the opportunity to discuss their finances if they haven’t already, since financial disagreements are one of the biggest reasons relationships fail. Chances are that confessing you are in debt won’t cause your partner to run the other way.

The Chase Blueprint Valentine’s Day Survey was conducted from January 2 to 8 by Research Now. Respondents consisted of a representative sample of 1,212 Americans over 18.

Add to Favorites:

Related News:

Girl Scout Survey Highlights Need for Credit Education

By Elizabeth Nelson, Posted: April 17, 2013

While girls are eager to learn money management skills, fewer than half know how to use a credit card, understand what a credit score is, or know how credit card fees and interest rates work, according to a new study. Continue reading
Chase Survey Says Working Mothers Prefer a Raise to Time with Family

By Elizabeth Nelson, Posted: January 21, 2013

Working mothers prioritize paying off debt and saving money, according to a survey from Chase and Working Mother magazine. And most would prefer a raise to help with those efforts rather than more time off from work. Continue reading
Six-Figure Income Households Not Optimistic about Finances in 2013

By Elizabeth Nelson, Posted: January 10, 2013

An American Express survey shows that less than half of the affluent respondents are not happy about their financial futures. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.