A recent study released by the Federal Reserve Board says that our credit scores are correlated to our love lives. You can read the full study here. Why am I so excited about this? If love isn’t a reason to get your credit score up, I don’t know what is!
Our credit score is often a reflection of our overall financial wellness so when you start saving, consistently pay down your debt and get your finances in shape, your score will start rising. Often how we do one thing is how we do everything. People who are reliable and dependable in their finances are often the same way in other areas of their lives, including relationships.
Here are some fun stats from the study.
A 105 increase in credit score implies a 32% less likelihood of separating. This is great news for people who have credit scores that are less than stellar. Increasing your score, decreases the chance you’ll separate!
Individuals whose score is 109 points higher have a 14% higher likelihood of forming a relationship in the next year. Single and looking? This is great news! Increase your score if you want to enter into a committed relationship within the next year.
Those with the lowest credit scores are about 30% less likely to form a committed relationship. On average, millennials have the lowest credit scores of any age group. This makes sense because 15% of our credit score is determined by our credit history. If you’re younger, you’ve had less time to develop a credit history. People are also settling down in committed relationships later in life. Regardless, the overall theme stands. If you want to get into a committed relationship get your score up!
I’d love to hear what you think! From your experience, does your credit score correlate with how reliable and dependable you are in other areas of your life?