Sure, a You need to be able to laugh, have physical attraction and are compatible. When it comes to finding love and dating, finances can also play a part. a partner to settle down with—and too much student loan debt It can be a Major red flag a Potential suitor
How much is Too much? Just under $30,000—$28,076—in student loan debt is The average amount of money people think about a dealbreaker in a According to a survey of 1,008 married Americans WesternSouthern Financial Group a Life insurance group. All generations were surveyed, including Gen Z and baby boomers.
This amount is Significantly lower than that of student loan This is the amount of federal borrowing that an average borrower has. is According to The, the figure is close to $38,000 Office of Federal Student Aid.
Gen Z respondents ranked student loans as second most concerning, after financial illiteracy. in dealbreakers. The other generations were surveyed with personal loans and credit cards debt They were among the top financial turnoffs.
It’s not the first survey that’s found student loan debt can have an effect on single peoples’ dating prospects. It is sometimes called “The ‘It’ Effect”. “baggage,” While others are worried about what? a significant other’s debt Load can affect their own financial prospectsLike buying a home or saving for retirement. A 2022 survey National Debt Relief discovered that there are 3 in 5 Americans have thought about delaying marriage because they do not want to take on their partner’s debt All consumers are affected by burden debtNot just student loans).
This should not be. a It is worth considering, or at minimum discussing with someone before you get serious about a romantic relationship. Financial stress is a Leading cause of divorce In fact, National Debt Relief’s survey found 54% of respondents believe that a partner being in debt is There are many reasons to think about separation.
WesternSouthern’s survey also asked about the topics related to money that couples discuss before marriage, as well as what their biggest financial arguments are about.
Also, respondents were asked what minimum income they desired. a Partner to Earn, the average response being $29,878
WesternSouthern encourages partners and potential partners to share their financial and other dealings with one another. It is important to do so as soon as possible.
“Talking about money can be difficult (even embarrassing), but some things need to be brought to light before tying the knot or starting a family together,” This is what the survey says.
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