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A salary below this amount is a dating deal-breaker for many Americans, survey s...

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source link: https://finance.yahoo.com/news/survey-shows-1-3-americans-161500220.html
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A salary below this amount is a dating deal-breaker for many Americans, survey shows — why you should talk money on your very first date

Personal finance: Key dates and events to pay attention to in 2023
Personal finance: Key dates and events to pay attention to in 2023
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Serah Louis
Wed, February 15, 2023, 12:00 AM GMT+9·5 min read

Thinking about getting down on one knee this Valentine’s Day? Don’t make the big move without first being bold about your financial needs and goals.

Financial services company Western & Southern Financial Group surveyed over 1,000 married Americans about their financial triggers and found that 1-in-3 couples waited until after marriage to talk about important financial topics, with salary being the biggest topic they wished they’d talked about sooner.

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On average, Americans said they want their partner to be making at least $29,878. Some of the most common financial deal-breakers include having outstanding personal loans and credit card debt.

Financial activist Dasha Kennedy — also known as The Broke Black Girl — says couples should be having conversations about money as early as the very first date.

A salary below this amount is a dating deal-breaker for many Americans, survey shows — why you should talk money on your very first date
A salary below this amount is a dating deal-breaker for many Americans, survey shows — why you should talk money on your very first date

Here’s why it’s important to figure out if you’re a financial match before things get serious.

Why it’s important to have the money talk

Kennedy, who has worked as an accountant and loan default counselor, divorced her husband after realizing they weren’t financially compatible. The divorce left her $25,000 in debt and took her five years to financially recover from.

“Had we initiated more financial conversations in the beginning, we probably would have either decided early on that we were just not financially compatible to be in a relationship, let alone to be married.”

A 2022 survey from The Knot found that being secretive about finances or dishonest about how you’re spending your money is one of the biggest deal-breakers in a relationship.

“When we look at the data, we see that not talking about money or money-related issues is one of the leading causes for divorce,” says Kennedy. “Initiating those conversations as early as possible and trying to get ahead of that curve is very important.”

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