Want to Find True Love? Savers are More Attractive than Spenders
Filed under: Personal Finance, Spending
Money can’t buy you love, but how you handle your money determines how attractive you are to the opposite sex.
Surprise! It turns out individuals who focus on saving money are considered more romantically attractive than those who spend rashly.
Compulsive spenders, the kind who tend to throw cash around without a care in the world, are generally less attractive to prospective partners than compulsive savers, who are more mindful about spending and save their cash when possible, according to a working paper called A Penny Saved Is a Partner Earned: The Romantic Appeal of Savers from the University of Michigan’s Ross School of Business.
Oddly, it’s not really about the money: It’s what your spending habits say about you and the kind of mate you’ll be over a lifetime. Savers are seen as more attractive than those who splurge on fancy meals, expensive watches and designer shoes, for several reasons, according to the study.
- Savers are viewed as having greater financial resources than those who spend frivolously. Whether this is true, savers are seen as having more stable financial resources than wild spenders.
- Savers are also viewed as being less materialistic – a core money value. Avoiding waste and silly indulgences is generally viewed as being more virtuous, the study suggests.
- Most importantly, savers are viewed as having a high degree of self-control, which is an extremely desirable trait.
Why is self-control so desirable? The thinking is that men and women who show a high degree of control over their money are also more disciplined in other areas of their lives. They’re imagined to be more thoughtful and willing to commit to relationships, while avoiding impulsive temptations such as cheating on a partner. They may also be more physically attractive because in addition to having financial self-control, they’re also thought to be more capable of sticking to diet and fitness regimens.
The desirability of self-control doesn’t stop at the “first impression,” either. Those already in relationships report that spending frivolously is a turn-off, too. The most common money complaint of people in relationships is that their partner spends too much, either on big-ticket items or a slew of useless items, according to a Chase Blueprint(R) survey on money and relationships.
And pretending to save only to buy a flashy big ticket consumer item fools no one. People who do that get thrown into the same category as spenders. Men and women are attracted to “real” savers who put away cash for important things-such as saving for a home.
But you can go too far. Before you cut your spending down to zero, be aware that the third most common complaint in the Chase Blueprint(R) survey is partners who save too much and look cheap.
Jenny Olin and Scott Risk, authors of a Penny Saved is a Partner Earned, warn that despite an overall preference for savers in their study, savers are also perceived as being less exciting, less adventurous and no fun. Pinch too many pennies, and you risk being viewed as uptight and dull, not attractive.
So don’t go throwing money around like there’s no tomorrow, because prospective mates are very interested in tomorrow. On the other hand, don’t turn into Scrooge.
Ninety-four percent of respondents to the Chase Blueprint(R) survey say they want someone who has similar spending habits and shares their financial values. There are more savers than flashy spenders (or Scrooges!), so if you act responsibly with your money, you’ll appeal to the most number of people.
Chase Blueprint(R) is a free set of features on Chase credit cards that helps customers avoid interest and pay down balances faster.
Ilyce Glink is an award-winning author, columnist, radio talk show host, and blogger who specializes in real estate and personal finance. Find her online at .
Sources:
- from the University of Michigan’s Ross School of Business, authored by Jenny G. Olson, Scott Rick
- Chase Blueprint(R) Valentine’s Day survey from February 2013: https://www.chase.com/online/chase_blueprint/document/FINAL-Valentines-Day-Press-Release012513.pdf
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