What do you look for in a partner? Good looks? Good personality? A good job? According to a new study by free-for-life credit report and score provider Noddle.co.uk, one in five single Brits (18%) see good ‘financial awareness’ as among the most attractive qualities in a potential partner. That’s right, being financially savvy is the new sexy.
For women, financial awareness is the third most attractive characteristic after personality and intellect. It even rates more highly than good job prospects and looks. Meanwhile, one in 10 men rate financial awareness as an attractive quality, more so than being well off or owning a home.
Jacqueline Dewey, Managing Director of Noddle.co.uk says: “Money can be a source of stress and disagreements in relationships, so it’s a good idea to find someone with a similar outlook as you, and it’s great to see that more and more people are valuing good financial awareness when looking for a partner.
Here are Noddle’s tips on being a financially savvy partner.
- Be honest: It’s important to know the ins and outs of all your expenses, so try making a list of everything you spend each month. After everything has been added up, ask yourself this question: How do I pay for all of this? Only by answering this basic question can you really start to grasp your finances and develop better financial management.
- Budget: One way to keep track of your finances is through a budget. It takes little effort and it’s a great way to get a quick snapshot of the money you have coming in and going out, how much you need for necessities like food and bills and how much you have left over. You’ll also be able to spot opportunities to make savings.
- Share your financial responsibilities: Not everyone has the same values when it comes to money. In a relationship, one may be a bigger spender and the other more frugal. But from the start it’s important to make decisions together and share the joint financial responsibilities. This ensures that everything is fair and clear cut on both sides.
- Check your credit report: Keeping a close eye on your credit report helps you keep track of your finances. Check it once a month to get a snapshot of all your outstanding credit, such as mobile phone and energy bills, credit cards, loans and mortgages. That way you can see how much you owe and spot if anything’s not quite right. You can check your credit report for free at www.noddle.co.uk.
- Get learning: Knowledge is power, so when it comes to improving your financial awareness there’s nothing better than learning more about finance. Newspapers and magazines geared towards money matters and the financial sections of local newspapers are great resources to do this. You can also find some helpful information online - why not have a look at the Noddle blog?
- Think long-term: For any couple it’s important to have a long-term plan – and that applies to your finances as well. Whether planning for a wedding, buying a house or just saving for a rainy day, thinking long-term helps you plan for the future and prepare for costs that may arise along the way.
- Seek expert opinion: If you’re someone who’s daunted by financial jargon, but still want to improve your awareness around money, don’t worry, there are organisations out there that can help. You can get free impartial money help and guidance at the government-backed Money Advice Service.
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