It’s no secret that money can be a source of friction in romantic relationships. Problems can crop up from having too much, having too little, spending a lot, never spending, spending on certain things – it’s hard to know what you’re doing wrong sometimes.
That’s why at comparison site Mozo.com.au, we asked a bunch of Aussies to reveal their biggest deal breakers when it comes to money and love. And it turns out, we’re all more or less on the same page when it comes to what’s acceptable and what’s not. The good news is that means there are a few simple behaviours that can help singles everywhere get ahead in the dating game, that we thought we’d share.
1. Be honest
Unsurprisingly, people don’t appreciate being lied to by their paramour, and that’s as true when it comes to money as anything else. Lying about your financial situation was a deal breaker for three-quarters of Aussies.
That doesn’t mean you need to offer full disclosure right up front, but if the relationship does get serious, a healthy dose of transparency might be in order. And you should always be honest about things like how much you can afford to spend on a night out.
2. Be ambitious
If you don’t have goals, it might be a sign that you’re not taking yourself seriously, you haven’t got any plans for your future or that you aren’t ambitious. That can raise a red flag for a potential partner, which is why not having any financial goals spelled the end of a relationship for 52% of Aussie lovers. So while you’re looking for your soulmate, take some time to think about what you want financially – like a deposit for a house or flexible income that allows you to travel non-stop – and set it as a goal for yourself.
3. Be independent
Independence is sexy, whether you’re talking about being able to change a tyre for yourself, or being able to pay all your own bills without calling your mum for help. A lack of financial independence would see 56% of Aussies call it quits with their partner so if you want to be more desirable, work on your financial literacy and get smart about your money.
Creating a budget is a good first step on the road to financial independence, and so is building up a savings buffer so that you’re prepared to tackle life’s little hurdles.
4. Be responsible
A sense of personal responsibility is not just attractive – it’s also really important to keep you on track in other areas of your life, like your career and finances.
One way to show your potential partner you’re financially responsible is to wield your credit card wisely. Always relying on a credit card was a turn off for 3 in 5 Aussies, while having more than $5,000 in debt was a no-no for 37%. What that means for you is that learning how to manage your credit card balance without going overboard is key to catching that cute person’s eye.
5. Be generous
Finally, it’s the question that sees first date’s everywhere end in awkwardness: who picks up the check? While this is a delicate situation at the best of times, a partner who always wants to go dutch was a dealbreaker for 34% of people – admittedly, it was a sticking point for more women than men.
If you can’t really afford to shout your date dinner, go back to the first point on this list: be honest. Being upfront about your budget is much better than coming across as stingy or rude. And hey, you might even get points for keeping an eye on your dollars – not being able to budget was a deal breaker for more than half of people.
Kirsty Lamont is a Director and money expert at financial comparison website mozo.com.au. She is passionate about improving financial literacy among Aussies and helping them whip their finances into shape by comparing financial products to find a better deal.
