9 Tell-Tale Signs That You Are Dating A Financial Nightmare

By BankBazaar | November 8, 2017

If your date/partner is terrible at handling money, then it would be suicidal to ignore such a flaw, as dating a walking financial wreck can put you in a monetary pickle. In case you are wondering how to spot if your date is a money-sucking vampire, we give 9 classic signs of dating a financial nightmare.9 Tell-Tale Signs That You Are Dating A Financial Nightmare

What would you do if you find out that the person you are dating or are married to, is actually a vampire? Before you go all Twilight on us, let us tell you that he is a different kind of vampire. He doesn’t drink blood but sucks out your money instead. Welcome to financial nightmare!

Finding the right person, who is not only fun to hang out with but also possesses the same emotional quotient as you is tough. And when you find such a person, you are willing to overlook the minor flaws and start planning your lives together. But if your date/partner is terrible with handling money, then it would be suicidal to ignore such a flaw, as dating a walking financial wreck can put you in a monetary pickle. In case, you are wondering how to spot if your date/partner is a money-sucking vampire, we give 9 classic signs of dating a financial nightmare:

  1. They pay only the minimum Credit Card due instead of clearing off the outstanding debt: A Credit Card brings us great joy with its buy-now-pay-later feature. However, when used recklessly it can create worried lines on your forehead. If you often catch your partner paying off just the minimum Credit Card due instead of paying the entire bill, without actually worrying about rapidly increasing debts due to high interest rates of Credit Cards, then you, my friend, are dating a financial nightmare. It’s only advisable to let your date/partner know the cons of paying only the minimum due. It will not only attract high interest charges but also affect their Credit Score, which in turn will affect their chances of getting any future credit.
  2. They do not have their personal budget in place: Having a personal budget and making attempts to follow it is essential for financial stability. Some of us are champions in keeping expenses under control, while some of us try desperately to keep up with our budget. But if your date has never believed in maintaining their budget and gets stressed out by just hearing the word ‘budget’, then it is a tell-tale sign that your date is a financial disaster on its way to strike your relationship. You can help them chalk out a daily budget and help them follow it. You can also introduce them to numerous financial apps to help them track their daily expenses. This will help them stick to their budget!
  3. They splurge despite a money crunch: If your income is low, it is only logical that you spend less by indulging in cost-cutting. But if your date doesn’t operate on this simple logic but goes on to splurge money and succumb to impulsive buying despite a money crunch, then it is a warning bell that your date is a financial wreck. Anyone who doesn’t pay heed to financial crunches is welcoming huge monetary troubles their way. Depending too much on credit has never helped anyone. So, you have to sit together and explain to your partner how splurging too much is bad for their financial health.

Additional Reading: Tips to avoid financial crunches!

  1. They keep their Credit Card debt a secret: Secrets in a relationship are like holes in a ship. They will eventually sink your relationship. It might be surprising to hear but most marriages and relationships fail due to secrets involving money matters. It is vital that one tells the truth about one’s financial status and discuss money matters up front with their significant other. But if your partner is not willing to disclose his/her finances and is constantly trying to hide his/her debt, then continuing in such a relationship is financially suicidal. If your partner won’t open up about their Credit Card debts, you ought to be the first one to speak about it. If you are aware of their debt and are yet keeping mum, you’re not helping your partner in any way. Just remember that some secrets are better when they are not kept.
  2. They are constantly out of work: Everyone faces ups and downs in their careers. And it is okay to be in between jobs for a while. But if you find that your date is constantly out of job or has been trying to get a stable job for a very long time, then it gives a clear picture of their financial instability. Being unemployed for a long time is a big problem but if they don’t tend to see it and are happy living their lives by taking debts, then you are dating a financial nightmare. Also, unstable job history can spell bidding goodbye to future credits. So, if you plan to buy a house together with your partner, you have to help him/her work on their job-hopping habit.

Additional Reading: Lost Your Job? Fret Not! Follow These Steps

       6. They borrow money from you time and again: It feels a little odd and embarrassing to borrow money from friends and family once you hit the twenties. But if you find your date constantly asking for money to borrow from you and others around you, then it is a tell-tale sign that your partner is a credit monger. And if they don’t even make an attempt to return the money they borrowed from you, then this relationship might drag you to the depths of financial bankruptcy. What’s more? If you don’t say “no” now, you will never be able to say it and hence, you too will sink in financial debt. If you really want things to work between you and your partner, you have to learn to say “no” and break the pattern of borrowing, be it from you or from financial institutions.

Additional Reading: 10 Vital Rules To Follow When Lending Money To Family And Friends

        7. They ask you to pay the bill every time you go on a date: Gone are the days when guys were expected to pay the bills on a date. Nowadays, both the partners in a relationship don’t mind splitting the bill into half. But if your date keeps asking you to pay the bills each time you go to a restaurant or bar, then don’t just brush it off as their miserly nature as it speaks volumes of the financial mess which they are caught up in. While you may feel good that your partner is comfortable enough to rely on you to pay his/her bills, you will be ignoring the harsh reality. So, put a stop to it, NOW!

        8. They are always late to pay bills: Most people pay bills on time to avoid paying extra as a fine. But if you fish out a pile of unpaid bills, way past their due date, from your partner’s bag, then it goes to show how careless they are about paying basic utility bills like electricity bill, mobile bill, rent etc. It is a sign that they are always short of cash and thus, pay their bills late. Can you actually put up living with someone like this for all your life? If not, it’s time to bring in a positive change. Speak up and help your partner with proper money management.

        9. They have no financial plans for the future: Everyone plans to save for future events like buying a home, marriage, children’s education, retirement etc. But if your partner is an exception and is caught up living in the moment with no financial plans for future milestones, then you are dating a financial mess. Your relationship might be ruined because of your partner’s reluctance to save for the future. And honestly, there’s no future without any financial backup. The only way to lead a secure life is by being financially healthy. And without financial plans and goals, there seems no future here.

How to handle a financial nightmare that you love?

Once you realise and accept that your date or partner is awful when it comes to money management, it is time that you make them realise their mistakes by gently nudging them in the right direction. Let them know that you are there to help them out financially for the time being but they need to get their act right if they want to have a future with you. More often than not, people buried in financial debts know their mistakes and they just need a strong support system that will not only help them acknowledge their wrong money habits but also give them the willpower to break the pattern of money mismanagement. Chalk out a plan with your partner to clear off all the bills and debts before you plan to take the next step in your relationship. Got it?

Now that you know how to spot if your date is a financial nightmare and have learnt how to deal with this tricky situation, act fast to pull your relationship out of financial quicksand before it is too late. Meanwhile, go explore your investment options to improve your finances!

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