According to a survey conducted jointly by digital investment platform Syfe and dating app Coffee Meets Bagel (CMB), your love will cost something when it comes to finding your future partner.
In their joint survey titled “Love Meets Money”, both Syfe and Coffee Meets Bagel found that 93% of Singaporeans believe that good money management is an attractive quality in their potential partners.
The survey was conducted among 1,363 Singaporeans through the Coffee Meets Bagel app across June this year. In the survey, topics such as money conversations on dates, bill etiquette and expectations around career and earnings when it comes to considering a long-term partner, were brought up.
“Deciding on an investment partner and a life partner are big decisions which require alignment in values, expectations and connection for long-term compatibility,” reads the joint statement released on Aug 15.
Other results from the survey found that more than two in three participants believe that it is a turnoff to bring up the topic of money on a first date, although the perspective varies with age.
Over half (58%) of the participants aged 35 and above believe that one should not talk about money during their first dates. Only 40% of participants under 35 believe the same.
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In addition, 44% of all the participants feel that it is appropriate to ask for someone’s salary details before becoming a couple, while three in five Singaporeans would share their salary within the first five dates.
Findings from the survey also revealed that 32% of the participants believe that the most appropriate time to have a conversation about money is either the period before defining the relationship. Another 31% believe the best time to do so is when they enter into a serious relationship.
Almost all the participants agree that it is too late to have the conversion only at the point of marriage or moving in together.
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In the same survey, it was also found that 63% of women prefer their partner to make more money than them, while 70% of men have no preference as to how much their partner makes. 23% of the men surveyed say they prefer their partner earn a similar amount.
Values matter
In the survey, both women and men ranked their potential partners’ values as being the most important criteria overall. However, their second most important criteria differ. In the survey, career, appearance and hobbies/interests rank as women’s second, third and fourth priorities, while men value their partners’ appearance, hobbies/interests and age as second, third and fourth respectively.
“Money and relationships are two very important topics in an individual’s life and as we support Singaporeans on their investment journeys, it was interesting to discover how other aspects of life would be enriched by good money management and investing habits,” says Sebastian Sieber, Syfe’s chief marketing officer.
“The findings have shown the crucial role that money plays when meeting potential life partners, and the importance for individuals to be better equipped with knowledge on personal finances and investing,” he adds.
Delbert Ty, Coffee Meets Bagel’s chief marketing officer says, “Partnering with Syfe has given us the opportunity to broach a difficult yet vital topic: how money factors into relationships.”
“We believe daters should be aligned on the things that matter most in order to build a successful, long-term relationship, and money management definitely falls under that category. We look forward to using these survey findings to better support the CMB Community when it comes to talking about money with someone new.”
