Thinking of moving your romantic relationship to the next stage this Valentine's Day? Beware of these 5 financial red flags in a potential partner.
"People don't realize once they are in a long-term, committed relationship, even though it is the other person's debt, it's kind of your debt too," said money coach Nicole Victoria, founder and CEO of No Budget Babe, a financial literacy company."Them paying it off will affect your ability as a couple to work toward other financial goals together."
In terms of attractive traits, having little to no debt ranked as the most positive quality in a partner, according to a recentFlaunting their wealth "If your partner is always buying the next round of drinks at the bar, as yourself why. Pay attention to your partner's motivation behind their financial behaviors — be cautious if their desire to impress overshadows their financial reality," said Emily Irwin, a wealth management executive at Wells Fargo.On the flip side, never offering to pay for dates or frequently borrowing money can signal a lack of resources or simple selfishness.
"Just because someone has a big income doesn't mean he or she can support their spending, and it doesn't necessarily mean there isn't some unattractive frugality that's happening," Irwin said.Transparency is key when discussing money matters, and that can go a long way toward ensuring a couple's financial compatibility.
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