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401K and Good Credit are Hot Topics in Dating
Sunday, April 16, 2023
With ongoing layoffs and economic uncertainty, singles are looking for financial literacy in new partners. Financial planners have emerged as the most popular occupation for a potential match
NEW YORK, Feb. 28, 2023 /PRNewswire/ -- Dating.com - part of Social Discovery Group, the company behind over 40 online dating sites - today released findings from a recent survey that revealed singles are worried about job security and looking for financial security in a match. They are seeking partners with good credit and strong contributions to a 401K. Daters blame ongoing, widespread layoffs for their increased interest in partners with financial savvy and savings, and financial literacy is on the rise as a top in demand quality that singles are searching for.
"Traditionally, finances have been a discussion topic people have tried to stay away from with a new match," said Maria Sullivan, Dating Expert and Vice President of Dating.com. "Daters have typically waited to address this until the new relationship has progressed and gotten more serious. Now, with layoffs taking place every day and singles' financial security at risk, it is becoming more common for people to have the conversation much earlier than ever before."
Key survey findings include:
-- 45% of respondents reported that they plan to ask about personal
finances on the first date
-- 50% said that they would end a relationship after finding out that their
partner's 401K contributions are unsatisfactory
-- 52% of those surveyed reported that they are currently seeking financial
wellness in a new partner. A majority said this is due to widespread
layoffs and ongoing inflation
-- 45% responded that they would feel comfortable asking about credit
scores with a new partner within the first three months of dating
-- 47% reported that they would like to align on financial goals with a new
partner before the relationship becomes serious
-- Financial planners have emerged as the most popular occupation in a
potential match
Maria's tips for successfully navigating economic chaos and aligning on financial goals as a couple include:
-- How to cope with your partner's layoff. In the event that your partner
is laid off, the best thing you can do is show understanding and
positivity. Instead of panicking and showing your own stress related to
their layoff, remain calm and optimistic in the moment. It can highlight
your positive qualities like empathy and selflessness, and it can show
that you're capable of supporting your partner in the face of a crisis.
It would also be helpful to start discussing budgeting as a couple, and
to consider putting savings for future purchases like a car or a home on
hold as your significant other searches for a new role.
-- Understand your own financial goals before discussing them with others.
In this economic environment, it's tempting to focus on finding a
financially savvy match who has their bills paid on time, with
additional savings and disposable income. However, it is important to
have a good understanding of your own finances before aligning or
starting the conversation with another person. Consider your own student
loans, credit card debts, salary, savings, 401K contributions and
investments before trying to understand someone else's.
-- Set short and long term goals. Repaying debt and achieving wealth can be
an overwhelming task for most people. Set short and long term goals for
yourself (and your partner) that are realistic, and challenge each other
to save for each of your aspirations if possible. For example, if your
long term goal is to purchase a home in the future, set three short term
goals you can work towards every week: to pay down any existing debt; to
skip small and unnecessary expenses, like picking up a pricy latte every
day; and to save a certain amount of money per week towards your dream
house.
-- Run the numbers and set a budget. Many people don't truly know the
amount of money they spend on things such as restaurants, coffee, gym
memberships, bills, and more until they sit down and create an actual
budget for themselves. When trying to align on financial goals with a
partner, set aside time for you both to review your charges and expenses
over the last few months. Oftentimes, this will reveal wasteful spending
that can easily be cut out if you really want to save, and will help you
figure out a realistic budget that you both can stick to.
About Social Discovery Group: Social Discovery Group (formerly SDVentures) is a global tech company comprising over 40 brands, an investment fund, and a venture studio. It focuses on solving issues of loneliness, isolation, and disconnection through social Social Discovery Companies. With offices on five continents and a team of more than 700 professionals, the company serves 250+ million users across 100 countries. For more information, please visit www.socialdiscoverygroup.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/401k-and-good-credit-are-hot-topics-in-dating-301756952.html
SOURCE Dating.com
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