Finances: Choose the Right Relationship for Your Money Type

When people are looking to get into a relationship they look for another person with similar interests and values.  This is not the case with money – people tend to attract opposites here.  A spender attracts a saver. With Valentine’s Day this weekend, let’s look at what you should be asking to attract someone with similar money values.

First, you need to know what money type of person you are.  Are you someone who has a budget or spending plan and takes time to think about your money and map out what your financial goals are and how to get there?  Do you make purchases with a thought out plan or do you buy on impulse.  Maybe you are a spender and you make purchases even if you don’t know where you’ll get the money from.  Or you might be somewhere in the middle.

You need to figure this out before you get into a relationship with someone else.

Then, you need to find out about the other person’s money type.  If you don’t, you could end up in a serious situation where one person has acted responsibly with their money and comes to the relationship with great credit, no debt and their finances well thought out.  The other person could have substantial debt with past due accounts and no savings.

This can destroy a relationship no matter how many similar interests you share.  You need to add this quality to what you are looking for in a relationship. Money and credit play a big role in your future life – employment / earnings, where you will live (rent or own) and how you will survive the unexpected financial emergencies.