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Expert reveals the biggest financial red flags in relationships

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Financial stability is something most people crave when it comes to relationships, but many miss the red flags, experts say.

The team of she is in the money he discussed the red flags on his Instagram page, including a refusal to talk about money and chronic overspending.

The women were happy to highlight the “awkward and uncomfortable warning signs that show you that this might not be the soulmate you want.”

Victoria Devine, pictured, founded the She's on the money podcast and stresses the importance of being open with money.

Victoria Devine, pictured, founded the She’s on the money podcast and stresses the importance of being open with money.

The number one financial red flag for people in romantic relationships is the inability to talk to your partner about money.

This could lead to confusion about spending habits, savings goals, and whether or not you are compatible as a couple.

One woman said she would walk away immediately if she found out her partner couldn’t talk about money.

‘Start talking about money early and often! And if they don’t want to say goodbye,’ she wrote in the post.

Poll

What is the biggest financial red flag?

  • without talking about money 0 votes
  • have no savings 1 votes
  • overspending 2 votes
  • want a joint account 0 votes
  • Play 4 votes
  • not return the money 0 votes

According to podcasters, if your partner borrows money and doesn’t pay it back, you should be hearing warning bells.

Being pressured to open a joint bank account is another big red flag, they said, adding that it’s important to be able to speak up and stick to your own boundaries.

The fourth major red flag is when your partner is living “well beyond their means.”

It might look like overspending on purchases, racking up debt on new cars, buy now pay later schemes and not budgeting properly.

In the post, the women also asked if anyone else had major financial red flags they’d like to add to the list.

And the people were happy to oblige.

‘Surely you should add the usual game to the list, right?’ a woman wrote.

If your partner is constantly living outside of your means, that's a big red flag and should be talked about.

If your partner is constantly living outside of your means, that's a big red flag and should be talked about.

If your partner is constantly living outside of your means, that’s a big red flag and should be talked about.

While another said that having a partner who ‘has final say on how joint savings are used’ is a big red flag for them.

What are the four big financial red flags for mature romantic relationships?

1 – Do not talk to your partner about money

2 – Your partner borrows money and never pays it back

3 – Your partner pressures you to open a joint account

4 – Your partner lives well outside of their means

One woman said she felt uncomfortable when her partner demanded to know how she was spending her money.

Another money expert, Shahirah Gardner, previously spoke to FEMAIL about red flags in relationships and agreed that it’s important to talk about money early on.

For Shahira, having no savings, an unstable job, living week to week and drowning in debt were the four biggest warning signs.

He explained that savings are important because they demonstrate “self-discipline and respect for financial goals.”

Financial instability was his next big red flag: ‘If you have stability in the workplace, your chances of stability at home are much better. Not to mention, it’s harder to pay bills and plan vacations if you can’t guarantee a steady income.’

The third, drowning in debt, is important because sharing a life with someone also means sharing debt, directly or indirectly.

Living paycheck to paycheck is the next big red flag for Shahirah, even though half of all Australians report doing so.

‘While it seems all but inevitable to many young Australians, how fast is your partner running out of money? If it’s payday and they’re already counting down to the next one, then watch out.

Financial red flags need to be assessed from the moment you meet and keep abreast of performance throughout the relationship as circumstances change.

What are the first date financial red flags?

The top red flags revealed by singles who are active in the dating world.

1 – Flaunt your wealth: 46% of people found this a turnoff

2 – Order the most expensive thing on the menu: a red flag for 37%

3 – Refusal to admit financial privilege: a big no for 30% of people

4 – Gender rules or expectations to pay the bill – disgusted by 28%

5 – Paying for everything with a credit card – a red flag for 27% of people

What are the three month red flags?

After you get past the first appointment, it’s important to look for red flags during the first three months.

1 – 52% of people found their partners to be acting with more money than they actually were a turn off.

2 – 43% seek job instability

3 – 40% are anxious if partners keep their income secret

4 – 38% see buy now pay later schemes as a red flag for three months

5 – 33% of people think long-term use of credit cards is a problem

It is important to be able to have money conversations with your partner, if you can't then there are problems

It is important to be able to have money conversations with your partner, if you can't then there are problems

It is important to be able to have money conversations with your partner, if you can’t then there are problems

Therefore, Syncd relationship expert Jessica Alderson said that some red flags take longer to appear, while others should be considered instant deal breakers.

These include paying for everything on credit, flaunting your wealth, refusing to admit financial privileges, and ordering the most expensive thing on the menu.

“It’s good to make a decision on a first date if the red flag is obvious. It is much better to cut things off quickly rather than end up in a toxic relationship that can be very damaging in the long run,” he said.

How should I discuss finances with a new partner or on a first date?

1 – Don’t be afraid to split the bill

If you’re dating someone, be upfront about who you’re paying for and how much you can afford. You shouldn’t feel the need to pay for something you can’t afford.

You can broach the subject lightly by suggesting how they would like to pay at the start of their meal, for example. That way, you’ll avoid any disputes over money toward the end of the date.

2 – Listen and learn

You can learn a lot about someone on a first date, and even at the start of a new relationship, by listening to their values, hobbies, and goals. Observe what their lifestyle is.

Are they frugal? Or are they open to luxuries? Doing so will help you better understand them as people and whether their goals align with yours.

3 – Share your values

Your values ​​make you who you are. And an important part of any relationship is being honest about what you want out of life.

Therefore, share your financial goals. Do you want to own your home? Buy a van and travel the world? Below you can see how compatible they really are.

4 – Do not meddle too soon in the relationship

If you wouldn’t ask a friend about their credit score, you might want to put that topic off on the first date.

If they’re not as open about money as you are, that doesn’t mean you can’t continue dating. It may take longer for them to open up to the conversation.

Instead, get to know them gradually, and you’ll learn more about their values ​​when it comes to money along the way.

5 – Do not impose your own financial goals

While you may be confident and secure in your financial goals, that doesn’t mean the person you’re dating is or even has those same values. Allow them to open up about their own goals and see if they align.

Font: money supermarket

“However, sometimes things get lost in translation on a first date, so if you’re not sure if something is really a red flag, you should go on another date and watch carefully to see if there are more behaviors than help clarify your doubts. .’

Financial experts at Money Super Market agreed, noting that while 27 percent of people think using a credit card for every purchase is a red flag, it might not be.

‘Credit cards can actually be a sign that you understand how to manage your money. A credit card, if used correctly, can help your credit score and ensure your score is healthy, making it easier to get a loan or even get a mortgage,’ they explained.

The real red flag that your date may have a spending problem is if they rely on “buy now, pay later” schemes, they said.