At a Glance

They say that money can’t buy love but it sure does influence romantic relationships. Credello conducted a survey this month with 600 Americans on love and money, ages 18 to 44-years-old, and the results reveal that dating and finances can get complicated. From taking on credit card debt to impress a love interest to hiding secret purchases and arguing about savings and expenses, couples are doing their best to navigate the taboo topic of money while falling and staying in love. It’s not always easy, and perceptions about relationships and money vary between genders.

Key takeaways on love and money:

  • 41% respondents are willing to take on credit card debt up to $2,500 in order to impress a new love interest
  • 49% say they would be more comfortable dating someone if they knew their financial status early in the relationship
  • 1 in 4 agree online dating profiles should include a person’s debt status.
  • 61% plan on paying for romantic getaways and surprises this year by saving for it while 28% plan to finance them with credit card debt
  • 35% have hidden debt and/or a large purchase from a romantic partner

Love and Debt

What we do for love (with our credit cards)

Yes, 41% of respondents are willing to get in debt for love–especially men: three out of four men (76%) are willing to go into credit card to woo a love interest versus 57% women who are willing to do the same.

There are still quite a few people who aim to be both financially responsible and romantic, with 61% of respondents paying for romantic getaways and surprises this year by putting money aside. On the other hand, 28% of respondents are willing to fund those gestures with credit cards.

Here’s an interesting double standard though. While men are more likely than women to use money they don’t have to impress their date, they are also more reluctant to date someone in debt. Thirty-one percent of men agree that online dating profiles should include a person’s debt status in comparison to 18% of women. Maybe they want to get to know these women and support them through debt consolidation, but it’s more plausible to assume they want to swipe left on them.

Financial transparency in relationships

Overall, one in four people agree that online dating profiles should disclose debt, but 43% of people strongly disagree with that concept. It’s private information after all, and it may be both unfair and premature to disregard someone based on the status of their bank account.

But even though the idea of including financials in your dating profile is a bit aggressive for some, 49% of respondents do say they would be more comfortable dating someone if they knew their financial status early in the relationship, with 23% strongly agreeing. Again, out of the people who strongly agree, men are more likely to feel that way than women (28% vs. 18%).

Financial transparency does matter at the end of the day, especially if you’re going to build a future and share your life and finances with someone. Nearly 50% of respondents believe that you should start talking about money topics with a romantic partner within the first six months of dating, which shows awareness around the importance of openly discussing money in relationships.

So it’s a bit shocking to learn that 35% of respondents have hidden debt and/or a large purchase from a romantic partner. Out of those, one in five men (19%) say they have hidden debt from a romantic partner compared to only 9% women saying they have.

Sources of conflict

The biggest money-related topic of disagreement in a romantic relationship is how much to save. Thirty-six percent of respondents say they disagree about how much to save. And disagreements on discretionary spending is a close second at 33%. Roughly one in four agree about all money decisions with their romantic partner, so it’s a common point of tension and there are more couples fighting about money than agreeing on all fronts financially.

If you are having trouble with money and want to take action learn about Credello’s debt consolidation, personal loans and debt payoff calculator.

This survey was conducted by a third-party survey platform – Pollfish, on behalf of Credello. The sample of 600 americans (ages 18 to 44) in the United States was surveyed on Feb 8th 2021. The results have been weighted to balance responses to census statistics on the dimensions of age and gender. For complete survey methodology, please contact [email protected]