Someday, your financial situation will impact the future of your life partner. So, let’s face it; no one wants to date a financial dope.
Bad financial habits such as debt and poor spending patterns reflect a person’s values and indicate whether they care about their financial future. Irresponsible money management is a huge irritant for people who are dating; one person might feel pressured into paying for everything or they may sense their partner isn’t committed to a long-term financial plan. This results in resentment, not butterflies.
It’s ultra-sexy to date someone who doesn’t tow monetary baggage behind them and has their financial house in order.
Get organized to rid your debt. Cut up all but one credit card, list out who you owe money to and how much. Negotiate interest rates and consolidate expensive credit card balances. Trade in your $3 Italian soda for a free glass of water so you can pay a little extra on the highest interest rate debt.
If you’re overextended with your house or car, downsize both. If you can’t keep up with payments, see a credit counsellor.
If overspending is your problem, fix it. Remove all temptations to spend. Unsubscribe from shopping websites or online coupons.
Draw up a budget and stick to it. Hide credit cards by burying them in the backyard. Don’t go to malls, plazas and other shopping venues.
Plan a bright future by starting to save and invest using RRSPs and TFSAs. Sign up for your company’s pension plan and contribute the maximum amount. They’ll even give you free money towards your savings plan.
I don’t suggest steering clear of dating while you’re reducing debt and growing investments. Rather, put together a responsible money management plan that shows you care about your future. You’ll feel much better about yourself so that you can be more yourself when you’re in dating mode.
