Dating and Finance Mistakes

Dating and Finance Mistakes

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2017-07-26

 

Summertime is here, and that typically that means a lot of people have shed their “winter weight” and are back in the dating pool. In fact, dating services saw an increase of 92% since summer began. 

While it might seem like a leap, being cautious and aware of your potential partner’s financial habits will pay off in the long run, when you consider that the average cost of divorce can be as high as $30,000 - most of that being in legal fees. 

Here are some things to watch out for while dating:

Keep track of your expenses

You don’t want to be in an awkward position of having to explain why your card was declined. It can be embarrassing and sends a terrible signal to your date - that you’re irresponsible with your money (whether it was a bank error or not).

Nowadays there’s no reason why you shouldn’t be able to track your income and expenses, online tools being abundantly available. 

Instead of getting an unpleasant surprise at the end of an overly expensive dinner, rather plan ahead, knowing that you can definitely afford whatever might be thrown your way. Research the places that you’re going, look them up on Yelp, or choose a more affordable option. 

Overusing Credit Cards 

Courtship can be expensive sometimes, and a terrible mistake would be to allow yourself to give in to the temptation of trying to impress someone by overspending on credit cards. In the long run, you’ll pay a lot more in interest, and being burdened by credit card debt really isn’t worth that fancy gift or that expensive bottle of wine. 

Pay attention

If he “accidentally” left his wallet at home on the first date, or if he wants to “share the bill” at dinner all the time, but doesn’t offer to “share the bill” of all the money you spent getting ready for your dates, or doesn’t tip the waiter, or, or, or… there’s a thousand things that could send signals of bad financial habits. Watch out for these, and pay attention to them. 

Remember that when people start dating, they’re usually on their best behavior, showing off the best version of themselves in an effort to impress their dating partner. If you’re seeing bad habits now, they’re only going to get worse over time. 

 

IMPORTANT DISCLOSURES

Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC

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About

Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website: www.davidlerner.com

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Contact

Jake Mendlinger
Account Manager
Zimmerman/Edelson
516.829.8374 X 232
jmendlinger@zimmed.com

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