Hey guys, Bridget from Money After
Graduation here and I wanted to talk about a really important aspect of money
and romance and that is: should you date someone with debt? The short answer is
yes, you should, because if you try to look for a partner that has no debt it’s
really gonna shrink your dating pool. Millennials are carrying more student
loans and credit card and car loan debt then any other generation before them so
finding a partner that has a zero balance on their liabilities sheet is
next to impossible. That said it is totally up to you if you don’t want to
date someone that has debt. That’s fine, just know that there’s not a lot of
people out there. What is important to consider is how your partner is managing
their debt. When it comes to having a long term relationship with someone and
building a life together, finances are one of the things that are
going to become seriously intertwined so it’s really important that you connect
with someone who manages their money in a similar way that you do. My baby’s being really chatty next to us. If your goals are things like owning a home,
early retirement, having a family, traveling the world, etc. those things are
all very expensive and if you want to do that with a partner, how much debt
they’re carrying will drastically affect these things for you. So some of the
things you need to consider when you start a relationship with someone that’s
going to go for the long haul is: how much debt do they have? What are
the monthly payments? How are they managing it? Are they trying to pay it
off early or are they planning to take the full term? Have they ever missed a
payment? Are any of their debts in default or collections and how do they feel
about their debt? Does it cost them a lot of stress? Do they think it’s manageable?
Or do they not even know how much they owe? How is it currently affecting their
life? Is it preventing them from saving for retirement or meeting their other
financial obligations? These are important questions because if your
partner is really crippled by debt and you’re not you might have to make up the
difference. Money is a really serious topic and it
can ruin a relationship after the infatuation wears off so it’s really
important to understand where both of you stand and how you plan to move
forward together. One of the best things you can do is get your credit score and
share it. Someone who’s managing their debts
appropriately will have a good credit score. Even if your partner owes a lot as
long as taking care of it this won’t necessarily
affect your long-term goals in a negative way. So should you date someone
if debt? Absolutely! But just make sure that they’re managing it appropriately
and it fits into the joint financial picture you have for a future with a
partner. I hope you guys enjoyed this video. If you did please give it a thumbs
up. I would love to hear in the comments below if debt has ever negatively
contributed to your relationship, if you’ve ever been broken up with because
of it or if you’ve broken up with someone because of how much they owed. If
you enjoyed this video and you want to see more financial updates please
subscribe to my channel and I will see you next week!