In fact, the higher your credit score when a committed relationship starts, the less likely you are to break up after the first few years, according to research by the Federal Reserve Board. Well-matched credit scores also bode well for a long-lasting love.
Credit scores reveal an individual’s relationship skill and level of commitment, the report concluded.
Those with the highest credit scores were most likely to form long-lasting committed relationships, the study showed. And the greater the mismatch between a couple’s credit scores, the more likely they are to separate within the first five years.
“This result arises, in part, because initial credit scores and match quality predict subsequent credit usage and financial distress, which in turn are correlated with relationship dissolution,” the Federal Reserve Board’s report said.
Couples with poorly matched scores may face challenges in jointly managing household finances, such as managing debt, paying bills or saving for a rainy day fund, particularly in their first few years together, according to the report.
With money at the root of a lot of relationship issues, it’s no surprise that a date with credit problems doesn’t bode well.
However, “not everybody walks out of college with a six-figure income,” said Jay Ferrans, the president of JM Financial & Accounting Services in Southfield, Michigan. It’s more important to demonstrate fiscal responsibility and communicate your long-term goals, he added.
Above all else, “be honest,” Ferrans said. “Financial secrets are a great way to torpedo any relationship.”
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