Shopportunist:
Attitudes about money can be relationship deal breakers, so it pays to discuss them.
Maturity. Honesty. Integrity. Frugality. All are compelling qualities people look for in a potential partner. Wait, frugality? Yep. In a recent survey of 2,000 Americans commissioned by Slickdeals. net, a crowdsourced shopping platform, nine out of 10 respondents consider frugality to be a captivating characteristic in a romantic companion. Penny-pinching is so appealing that nearly 80 percent of those polled found using coupons on a first date perfectly acceptable.
Before you update your online dating profile to proclaim your parsimoniousness, pause for just one second. There is a difference between being financially prudent and being perpetually cheap.
“Being cheap is about spending as little money as possible, while frugality encompasses several factors like money, convenience and time, coupled with overall value, being of importance,” says Slickdeals CEO Josh Meyers.
In that same survey, 72 percent of respondents define seeking out deals or coupons for all purchases as frugal. On the flip side, 44 percent think it is cheap to regift items. Those who fail to leave a tip regardless of service or hold firm at 15 percent even if service is outstanding are also perceived as stingy.
So why is it that one’s insistence on buying off-brand canned goods can make another’s heart go pitterpatter? There are a few reasons.
For one, expressing smart consumerism is no longer considered culturally taboo, says Meyers.
“The increased propensity toward frugality brings to light the importance of value for today’s shoppers,” he says. “Making smart purchase decisions and looking for deals or coupons is becoming mainstream – it’s what savvy consumers do because they are financially wise.”
As we mature, many of us become more frugal and want to avoid falling for someone saddled with debt.
The survey found that 27 is the age people felt the most financially reckless. At age 30, people start taking their finances seriously, but it’s at age 38 when people show more self-restraint and begin to fully embrace their frugality.
While frugality may no longer be taboo, discussing debt and financial issues early on in a relationship can be. According to the survey, 60 percent of Americans have had a previous partner who was reckless with money, prompting them to look for a more financially responsible partner. Aligning money matters and financial philosophies is imperative in any long-term relationship.
Discussing personal finances can be as touchy as delving into religious and political beliefs, prompting many to avoid the topic all together, says Stefanie O’connell, nationally recognized millennial money expert and author of the book, “The Broke and Beautiful Life.”
Frugality on the surface may be fetching, but it’s important to dig deeper. Skipping the conversation early can be costly and have longterm implications.
“Ultimately, you have to decide whether or not you can live with your partner’s financial habits,” says O’connell. “The only failure in my view, would be to combine your lives before openly and honestly discussing what it means to combine your finances.”