It’s the most romantic day of the year but one thing that won’t be masked by flowers or a meal at a favourite restaurant, is the state of a potential partner’s finances.
A new survey from Canada’s largest lender shows that 85% of those in a relationship say that sharing financial values is crucial for a healthy, long-term relationship.
And for those that may be asked to be someone’s Valentine today, 80% said discussing finances is important before the relationship gets serious with 90% saying a couple should have similar spending and saving opinions, and 62% saying the state of a partner’s finances could be a deal breaker.
"When you're committing to a relationship, you're inviting that special someone into your life, along with their finances," says Sandra Abdool, Regional Financial Planning Consultant, RBC Financial Planning. "That's a lot of sharing, and as a couple, it's important to set clear financial boundaries to make sure you're on the same page when it comes to spending, saving and managing your money."
National and Regional Findings: RBC 2020 Relationships & Money Insights Poll
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