When it comes to finding love, so much debt is a deal breaker
Since money is the root of many relationship problems, it’s no surprise that most people don’t properly swipe on a bad credit date.
More than a third, or 38%, of adults would rethink a romantic relationship because of the other person’s debt, up 12% year over year, according to a recent study by personal finance website Finder.com.
According to the report, singles are looking for a partner with a good financial situation after the Covid crisis. However, the nature of the debt was also a factor.
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Nowadays it is harder to avoid significant debt, especially with those who are just starting out. Most would cancel at least some student debt, although the amount varies by generation.
Millennials said a balance over $ 12,000 was too much, while Gen X found $ 15,000 unacceptable and baby boomers would understand up to $ 34,000 in student loans. (In fact, about 7 out of 10 college seniors are in the red, which equates to about $ 30,000 per borrower.)
In general, most people are okay with certain types of borrowing, especially when it comes to securing a home or car. Many people also forgave more medical debts after the pandemic.
However, credit card debt was seen as the most unacceptable, followed by loans from friends or family and high-yield payday loans.
But how much debt does a deal breaker have? Overall, men are willing to be with a partner who owes up to $ 40,000, Finder noted. The cutoff for women is lower: just over $ 34,000.
Finder surveyed more than 1,600 adults in the United States in January.
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