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Financial stability is something most people crave when it comes to relationships, but many miss the red flags, according to experts.
The team at She’s on the money talked about red flags on their Instagram page, including refusing to talk about money and chronic overspending.
The women liked to highlight the “clumsy, uncomfortable warning signs that this may not be the soulmate you want.”
Victoria Devine, pictured, founded the She’s on the money podcast and emphasizes the importance of being open about money
The main financial red flag for people in romantic relationships is the inability to talk about money with your partner.
This can lead to confusion about spending habits, savings goals and whether or not you are a good fit as a couple.
One woman said she would run away immediately if she noticed her partner couldn’t talk about money.
“Start talking about money early and often! And if they don’t want to say goodbye,” she captioned the post.
If your partner borrows money and doesn’t pay back, you should be hearing warning bells, according to the podcasters.
Being pressured to open a joint bank account is another big red flag, they said, adding that it’s important to be able to talk about and stick to your own boundaries.
The fourth big red flag is when your partner lives “way beyond their means.”
It can look like overspending on shopping, racking up debt with new cars, buy-now-pay-later schemes, and not budgeting properly.
In the post, the women also asked if anyone else had any financial red flags they’d like added to the list.
And people were happy to oblige.
“You should just add gambling to the list, right?” a woman wrote.
If your partner is constantly living beyond their means, that’s a huge red flag and needs to be talked about
While another said having a partner who “has the final say in how joint savings are used” is a big red flag for them.
One woman said she felt uncomfortable when her partner wanted to know how she spent her money.
Another money expert, Shahirah Gardner, previously spoke to FEMAIL about relationship red flags, agreeing that it’s important to talk about money early.
For Shahira, no savings, an unstable job, living week to week and drowning in debt were the four biggest red flags.
She explained that saving is important because it shows “self-discipline and respect for financial goals.”
Financial instability was her next big red flag: ‘If they have stability in the workplace, their chances of stability at home are much higher. Not to mention, it’s harder to pay bills and plan vacations if you can’t guarantee a steady income.”
The third, drowning in debt, is important because sharing a life with someone means sharing debt – directly or indirectly.
Living paycheck to paycheck is the next big red flag for Shahirah, despite half of all Australians reporting doing so.
‘While it seems almost inevitable to many young Aussies, how quickly does your partner run out of money? If it’s payday and they’re already counting down to the next one, be careful.”
Financial red flags should be evaluated from the moment you meet, and monitor the progress of the entire relationship as circumstances change.
It is important to be able to talk about money with your partner, if you can’t then there are problems
So Syncd relationship expert Jessica Alderson said some red flags take longer to show up, while others should be considered instant deal breakers.
These include paying everything on credit, flaunting your wealth, refusing to admit financial privileges, and ordering the most expensive thing on the menu.
It’s good to make a first date decision when the red flag is obvious. It’s much better to break things off quickly than get into a toxic relationship that can be very damaging in the long run,” she said.
“Sometimes things get lost in translation on a first date, though, so if you’re not sure if something is really a red flag, go on another date and observe carefully to see if there are more behaviors that help your doubts.” elucidate .’
Money Super Market financial experts agreed, noting that while 27 percent of people think using a credit card for every purchase is a red flag, it may not be.
Credit cards can be a sign that you understand how to manage your money. A credit card, when used correctly, can help your credit score and ensure your credit rating is healthy, making it easier to take out a loan or even get a mortgage,” they explained.
The real red flag that your date may have a spending problem is if they rely on “buy now, pay later,” they said.