By Mallika Mitra for Current
- Good savings habits, low debt, good credit scores, and monthly budgeting are more important to many Americans than looks when searching for a romantic partner
- 33% say low or no debt and a strong credit score are more powerful attractors than physical appearances
Money can’t buy happiness, but strong finances may be able to get you a few more dates. According to Current, good savings habits, low debt, good credit scores, and monthly budgeting are more important to many Americans than looks when searching for a romantic partner. Approximately one-third of Americans say that low or no debt (33%) and a strong credit score (30%) are more powerful attractors than physical appearances when considering a potential romantic partner. Roughly a quarter say the same goes for emergency savings (26%), regular savings contributions (26%), maintaining a monthly budget (25%), and having a retirement savings plan (24%).
Millennials and Gen Z-ers are more likely to value healthy finances over looks
The study found that there’s a generational divide in how important financial health is compared to appearances. 33% of both Gen Z (ages 18-28) and millennials (ages 29-44) say that a potential partner having emergency savings is more important than how they look, compared to 23% of Gen X (ages 45-60) and 18% of baby boomers (ages 61-79). Millennials are also more likely to say that a partner’s regular savings contributions (35% vs. 26% Gen Z, 25% Gen X & 18% Baby Boomers) and monthly budgeting (33% vs. 25% Gen Z, 25% Gen X & 18% Baby Boomers) are more important to them than appearances when considering a romantic partner than any other generation. But when it comes to low or no debt, older generations are more likely to prioritize finances over looks: 37% of Gen X and Baby Boomers say this factor is more important than appearances, versus 32% of Gen Z and 28% of millennials.
Financial weakness is a turnoff
Not only are people attracted by good finances, but they’re also turned off by the opposite: 14% of Americans say bad credit is a bigger turnoff than bad hygiene with 19% of Gen Z and 22% of millennials sharing this sentiment compared to 11% of Gen X and 6% of Baby Boomers, the study found.
The two younger generations are also more likely than their older counterparts to say that they’ve ended a relationship due to finding out a partner had a lot of debt (19% and 17% for Gen Z and millennials, respectively, versus 8% and 5% for Gen X and Baby Boomers).
What factors determine good financial health?
39% of Americans think improving their credit scores could bolster a couple’s bond — and it’s no wonder why. Credit scores, which essentially indicate to potential lenders how likely a borrower is to repay a loan, play a key role in our financial lives. Other good indicators of financial health are whether someone monitors their spending to ensure they spend less than they earn, saves regularly, contributes to their retirement savings accounts and invests outside of their retirement plan as well, Pileggi says.
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