Different people have different deal-breakers when it comes to choosing a romantic partner: there’s too much emotional baggage, for one, and now, there’s also an aversion to financial baggage. Yeah, that’s right.
Millennials, or at least a good portion of them, are approaching their romantic life with intense scrutiny. They’re cautious about the financial history of the person they’re dating before getting serious with them. Let’s find out more about that.
A Baggage Called Debt
According to an online survey by Business Insider Intelligence, 27% of millennials consider the student loan debts their potential beau has before getting into a serious commitment with them. About 34% of 2,000 respondents said that they ‘might’ consider the other person’s debt load.
These sentiments become even more interesting considering the fact that the average student left college with almost $30,0000 in debt in 2018. Now, if your looks or personality didn’t already limit your dating pool, this probably will.
There’s some good news for the guys though. It looks like ladies are more open to being with a partner with some financial baggage as 43% of the women respondents said they wouldn’t consider debt a factor in pursuing a relationship.
Still, there’s a limit.
Drawing the Line
You may find someone who’ll accept you, student loan debts, and all, but be careful telling them just how much you owe.
Apparently, the same respondents above consider financial baggage around $61, 932 to be a deal-breaker. That amount lowers even more depending on the person’s initial sentiments on the matter.
If you meet someone who’s really put off by debt, then even $45, 575 worth of dues will get you ultimately ghosted.
This may seem unfair, especially to those who are on the receiving side of rejection but this focus on a partner’s finances actually makes sense.
Finance & Romance
Money is one of the main things that couple’s fight about. In fact, financial problems are actually the leading cause of people getting divorced.
That said, a mountain of student debt is just one more thing that a millennial couple might argue over. As family law attorney Taetrece Harrison explains, talk of debt usually intensifies an already underlying issue in the relationship effectively making problems even bigger.
Some millennials are already wising up though as more and more of them are choosing to sign prenuptial agreements to avoid being saddled with a spouse’s debt at the event of a divorce.