Looking for love? Financial compatibility is where it’s at
· Toronto Sun
In the words of four-time divorcee and engagement ring collector Jennifer Lopez, love don’t cost a thing.
But when it comes to love, money matters — literally.
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A recent poll from Simplii Financial shows that Canadian couples who are going strong tend to be in financial lockstep.
The topic of money can be tricky, but if two people are on the same page then it makes life — and love — far more harmonious, from having similar financial goals to being aligned when it comes to spending.
Most Canadians, 88% to be exact, said shared financial goals were important with nearly half (49%) saying they used financial status in dating decisions and nearly three-quarters (74%) emphasizing the importance of a financially secure partner.
The majority (a whopping 96%) of Canadian couples agreed on the importance of being in sync when it comes to financial issues.
More than four-fifths (81%) said they felt financially compatible with their partner, while another 79% boasted that they made a great team when it came to managing their money.
Talk the talk
When it comes to compatibility, that also makes communicating easier — an intriguing find that sparks questions as to just how much finances play a role in a healthy relationship.
Most couples chatted about money regularly with three-quarters (75%) speaking weekly or a few times a month and nearly four in five (79%) revealing that they were satisfied with the frequency of those kinds of conversations.
While nearly half (44%) of respondents admitted that money conversations can be difficult for them, the polling found that most couples still maintain consistent communication habits that support financial stability and mutual confidence.
“It’s easy to think winning someone’s heart takes big gestures or splashy nights out,” Simplii Financial executive vice-president Atanaska Novakova said.
“But these findings show that what truly keeps couples connected is teamwork, communication and feeling aligned on financial priorities.”
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Trust, teamwork and a good dose of common sense are key in all aspects of a relationship, but more than half (56%) notably indicated that one partner takes on the primary role in handling finances, underscoring a tendency toward independence.
Furthermore, 57% believed that they were better at managing personal finances than their partner, which spoke to confidence in their financial abilities and reassured the strength of their partnerships.
The poll was conducted for Simplii Financial and CIBC between Jan. 22 and Jan. 26 among a random sample of 1,500 Canadian adults with a margin of error of plus or minus 3.1%, 19 times out of 20.