Frich Insights: How Much Does Love Cost?💔
Last week we partnered up with Blink Date to tackle one of the most important aspects of money - managing money in our relationships!
Most finance advice out there assumes that we're rational beings and will follow mathematical rules and equations that will magically turn us into millionaires. But what about the irrational? Is the purpose of money to simply amass as much as we can? Shouldn't we strive for a relationship with money that allows us to experience the things we enjoy?
Speaking of things that we enjoy - let's review last week's dating themed questions. Last week, we took an anonymous look at how your peers are managing money and dating. If you haven't yet, check out Frich to answer our daily money questions & see how you compare to your peers!
Yikes. This one is awkward because you would actually have to ask your potential partner how much they make. And you definitely should ask - we're all about transparency here, remember? Obviously not on the first date, but knowing at least ballpark amount they make, will ensure you both can accommodate for each other's budgets when planning dates, trips or setting expectations for gifts for each other.
Here's what your peers said about dating someone who makes less than them:
❤️ 41% said that income shouldn’t matter, so yes they would!
💔 13% said that their partner needs to make more than them
❣️ 46% said it depends on how much less they make
Let's break down the things that money CAN buy us when it comes to love. Obviously money can't buy love, but it can buy a meal at Carbone. Or a Cartier Love bracelet... So what did your peers think is appropriate to spend on a birthday gift when you're not in an exclusive relationship?
🎂 30% said that they would definitely get a gift
😇 30% would get you something small
🥲 27% said they wouldn't get anything for someone they're not seeing exclusively
Our advice? Just ask! And honestly - seems like everyone would expect something for their birthday so just get something small. Perfect compromise :)
Trust = love. The only tough question here is - do you trust your partner?
Here's what everyone else said:
😬 no one said that they would have a shared account with their partner after 2-3 years of dating
🏡 22% said that they would start sharing finances after moving in together
💍 69% said that they would marry their bank accounts after tying the know
💔 8% would NEVER share a bank account with their significant other
Sounds like most Frichies focus on milestones rather than simply the amount of time that has passed. And for those who said never - maybe you can explore some less "scary" options like Ivella.