Would (and Should) You Dump Someone Because of Money Problems?

When Should You Dump Someone Because of Money Problems? Before making any big decisions, be sure to consider these three things...

You’ve found the perfect guy. He’s smart and attractive. Check.

Your family loves him. Double check.

And as an added bonus, you two have the exact same sense of humor.

But after six months of dating heaven, you discover a problem – his financial situation sucks. 

His checking account is constantly overdrawn, his five-figure credit card debt is accruing interest at an alarming rate, and his retirement account is a whopping zero dollars.


According to SoFi’s latest survey, debt is the second biggest dating deal breaker for millennials.


Mr. Perfect might not seem so perfect anymore.

But what if he’s driving for Lyft on the side to pay down his debt and he has a plan to contribute 5% of his salary to retirement, all while cutting down on nights out?

Maybe he could be Mr. Perfect after all…


The way your partner deals with financial setbacks is the biggest indicator of whether or not money problems are a deal breaker – not the $ problems themselves.



So…Should You Dump Someone Because of Money Problems?


1. Consider the Context


Tiffany, a 26-year old marketer on the West Coast, explains, “Whether or not you should dump somebody because of money is a totally unique situation.

I could see it being an issue if they were lazy and making no effort to earn money, yet expected financial help. But I doubt an attitude like that would come without other serious character flaws.

That kind of negligent attitude would surely be reflected in other areas of their life. So I guess, yeah, I would dump someone because of money, amongst other issues.”

Money is complicated because the numbers don’t always tell the full story.Click To Tweet

There are often reasons for financial setbacks, and many of them are out of the person’s control.


Lay-offs, unexpected illness and student loans can all contribute to finances that look bad on paper, but may not be as dire or long-lasting as they appear.


For both men and women, these type of financial setbacks can be a source of deep shame and guilt.

“I got a job straight out of college. It was with a company in Texas and required a move across the country, but I didn’t mind putting the expenses on my credit card because my salary was pretty good. I planned to pay it off as soon as possible once I was settled, but six weeks into the job, I was fired.

I’m still paying off my debt from the move and I’m too embarrassed to talk about it because it feels like my fault I got fired,” says 25-year old Matt from Los Angeles.


In order to determine if money problems are a deal breaker, it’s important to hear the full story – ask what he or she is doing to change the situation and trust your gut.


2. Trust Your Intuition


If it feels like someone is lying to you, that could very well be the case.


Financial infidelity, which can include anything from hidden debt to secretive overspending, is on the rise.


In a recent poll from CreditCards.com, 5 percent of respondents admitted to concealing the existence of a credit card or bank account from their partner. ‘Extrapolate that out to the entire adult population, and it comes to 12 million Americans with secret accounts,’ says the site.

Lily, a financial analyst from New York City learned that the hard way.

When she first met her boyfriend, he seemed to have it all together. From weekend road trips  to fun dinners with friends, he always footed the bill. Lily said that there were a few times that “raised red flags” – like the time a card was declined, but she assumed it was simple mistake.

“I’ve had a card declined because I forgot to transfer money from a different account, so I thought it was a similar situation,” Lily explained.

It wasn’t until nearly six months later that she caught him in a financial lie that exposed the truth – he was in $30,000 of consumer debt.

The worst part? He had been lying about it.

“We talked about money a lot because I had a lot of student loans and was trying to pay them off fast. He was really supportive, but always commented about how he had ‘no debt.’ It sucked to realize that he had been lying to me for so long.”



How to Avoid Financial Heartbreak


Unfortunately, when it comes to love and money, there isn’t a set of hard and fast rules to follow, but there are some general guidelines that might help you avoid heartbreak and financial regret….


1. Talk it Out


It’s hard to talk about money problems with the person you’re dating, but that doesn’t mean you should avoid them.

If you’re in long-term, committed relationship, it’s best to be honest about your situation, whether it’s excellent, abysmal or somewhere in between.

Your honesty will allow your partner to be honest in response.

Related Reading: 3 Ways to Feel Financial Equal, Even When You’re Not


2. Look at the Present Instead of the Past


EVERYONE has made financial mistakes.

Whether or not money problems are a deal breaker will often be determined by what your partner is currently doing (or not doing) to rectify past mistakes.

Even though choices in your 20’s affect the following decades, it’s more important to focus on their present actions.


3. Remember, Lies and Manipulation are the REAL Relationship Deal Breakers


We’ve already established that everyone makes mistakes but….

What sets a “mistake” apart from a deal breaker is honesty, maturity and taking personal responsibility for what happened.

If money problems are combined with lies, guilt or attempts at emotional manipulation, it’s best to cut your losses and get out of the relationship as soon as possible.

Related Reading: Should You Break Up With Someone Because of Money?


Money is tricky. It’s emotional, messy and often tough to navigate, especially with a partner. But with some honesty, humor and hard work, you and your other half will be able to sail through the choppy waters.



9 responses to “Would (and Should) You Dump Someone Because of Money Problems?

  1. As you already mentioned, it really depends on the partner. Of course, it isn’t easy to talk about money but if your other half is willing to work on their financial situation you should help them.
    But if they are lying to you I would dump my partner. Because this behavior has a real impact on me and my financial situation.
    As always, communication is key 🙂

  2. Thanks for writing about this topic! I don’t think it gets talked about enough. I personally think it comes down to someone’s control over their debt. My fiance and I both have student loan debt, but we are very much in control of it and are actively paying it off. But if I found out he had $30,000 of credit card debt…ouch. I wouldn’t want to put myself in a situation where I am responsible for fixing someone’s finances when they clearly have no interest in fixing it themselves. Very situational, but I’m glad you brought it up!

  3. When my now husband and I first got together, he knew absolutely nothing about money. I came from a family with a parent that always bailed out another parent from money issues, and I refused to be in the same situation. My husband came into the relationship $15,000 in debt and was spending money we didn’t have. One day I gave him an ultimatum, stop spending so much money or I walk. He cleaned his act right up! Now, he budgets better than I do! Lol. He still spends money, but we have a fund set up just for him so he can enjoy it without feeling guilty. Sometimes you have to give them a chance like I did, but sometimes you may just have to kick them to the curb!

    1. Thanks for sharing your story Kim. I’m sure there are many people in similar situations and it’s good to hear that your husband was able to make that switch.

  4. No, not at all. what i think if someone stays with you only for money., they are just like parasites and we must take necessary actions to avoid such relations before we get into trouble. We all agree that money has solutions to many problems but at the same time money can’t solve all problems of life. We must be practical while dealing with money matters.

    Really liked your thoughts and specially the way you communicated it to us.

    Thanks! http://www.thanksmoney.com

  5. Sex, money and bathroom schedules. All topics that two people should be on the same with as they move forward.

    This post is great because love can be blinding.

    Thanks for sharing.

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