Love in the time of financial crisis

12.08.08
By Lewis Green

When all of the news seems to be bad, who do you turn to for comfort? The person you love, of course. But what if you aren't in a relationship?

According to an article in Reuters, more Americans have been turning to online dating websites during the economic downturn in order to find a soulmate.

For example, EHarmony's Gian Gonzaga told the news provider that when the stock market dropped by more than 100 points, users tended to flock to the dating site - perhaps to ease their stress or look for something positive to focus on.

Meanwhile, other websites such as Match.com and Perfectmatch.com have also reported a jump in membership in recent months.

However, while singles may be looking around hopefully, those who are already married or in committed relationships may be more likely to face pressure on their love life when times are tight.

Credit card debt is a common cause of arguments among couples, as well as handling the payments on home loans and dealing with any past credit transgressions made by either partner.

In fact, before making a long-term commitment with your partner, remember that their credit score may one day affect your own ability to get a loan.

In an article on MSN Money, consumer advocate Adam Levin cautioned people who are just beginning a relationship to inquire about these issues in a timely manner in order to avoid a surprise down the line.

"You may say you know everything about a person, but you probably don't know anything about his credit record," he explained.

Levin acknowledged that it may be difficult to ask directly, but said that knowing about the black spots on someone's credit report will help you enter a relationship with open eyes.

More Personal Finance Articles | More Credit & Debt Articles | News Home | Discuss in our Forum

Financial troubles can put stress on even the strongest relationships