Dumbest love/money mistakes ❤💲
Don't let passion trash your cash.
Love can lead to stupid choices. Love during a cost of living crisis can make that even worse.
Recent Finder research highlights some of the trickier romantic decisions folks have made as money pressures bite. Here are 5 corkers, and some tactics to avoid these desperate measures.
9% of us have lied to a partner about their spending
"Spending a little more on cocktails on your night out than you planned shouldn't be a deal-breaker," says Finder's money expert Sarah Megginson. "But if you're regularly concealing debt and hiding purchases, you're taking all the trust out of the relationship. That's not likely to end well. Not every couple needs the same money rules, but everyone needs to agree on what the rules are."
7% of us have lied to a partner about our debts
Lying about debt is, frankly, even worse. "You can't get your debts under control until you acknowledge them," Megginson says. "That's the first step to setting a realistic budget."
5% of us have begged a partner or an ex for money to help cover costs
How big a mistake this is depends on circumstances. "If you're on good terms, this might work, but be mindful of the long-term damage it might do, especially if you borrow money and can't repay it," Megginson says.
4% of us have stayed living with someone to avoid extra housing costs
With soaring rents and mortgage rates and housing shortages, this one's very understandable. "If you need to do this, the key is to be honest," Megginson says. "Acknowledge where the difficulties are and work on building up your savings so you can eventually achieve independence."
3% of us have restarted a relationship to keep costs down
This isn't always a money saver. Sure, rent's cheaper when you split it. But for example, couples health insurance is no cheaper than individual cover. "If the only reason you're with someone is financial, the relationship is already on shaky ground," Megginson says. "Don't break your heart just to try and heal your wallet."
Bottom line? Financial security is your goal. If a partner can help with that, great – but make sure you can ultimately rely on yourself.