Tuesday, 7 February 2012

Love and Money: They work together

Just in time for Valentine's Day a new survey shows most Canadians know little about their partner's finances. But 95 per cent say its important to date someone with a similar financial outlook. 
So, how do we know we are dating our financial match if we don't ask probing questions like. How much do you save? How much debt do you have? How much money do you make? Was money an important topic growing up? Some of these questions might sound impolite, and admittedly not the best question you ask on the first date! But its important to know how your partner feels about money especially if you plan on making them you life partner.

I'll be attending an event hosted by Financial Guru, Gail Vaz-Oxlade this week, who will be talking about how important it is to make sure we understand our partners financial outlook. Stay tuned for an update. 

Meanwhile, here are some interesting findings ING Direct released today. 
  •  92% of Canadians say it’s important for them to date someone with a similar outlook on money. 58% of women say it’s very important compared to 43% of men.
  •  89% of Canadians say it’s important for them to know about their partner’s finances, including income, debt, assets and investments. 
  • 62% of women indicated this was very important, compared to 43% of men.
  • One in five Canadians knows only a little, or nothing, about their partner’s finances.  
  • Only 21% of Canadians cited the importance of discussing if and how finances would be merged.
  • The most popular topics Canadians feel they need to discuss before committing to a serious, long-term relationship include: Debt, mortgages, car loans, lines of credit and credit cards (42%)How expenses will be shared (36%) Lists of monthly expenses (33%)
  • 10% of Canadians say they have avoided breaking up with someone for financial reasons.
  • 8% of Canadians say they have ended a romantic relationship with someone, but continued to “stay together” physically and financially.

1 comment:

  1. ooo... I read Gail Vaz-Oxlade's "A Woman of Independent Means" (& still have my copy of it!). Can't wait for your update on her talk!