Money Management

This could give you the motivation you need to focus on your finances. 

When we think of ways to attract a new partner, changing our financial habits probably isn’t the first thing that comes to mind. But a recent Bread Financial survey shows that certain financial behaviors do make people more attractive to other singles. Here’s a look at the three most-cited activities that increase a person’s financial attractiveness.

1. Paying credit card bills on time

Over half of singles surveyed listed paying credit card bills on time as a financially attractive behavior. This makes sense when you consider the effect that on-time credit card payments have on your credit score and your finances.

Payment history is the single-most important factor in determining your credit score, and lenders look at this when deciding whether to work with you and what kind of interest rate to charge you. Regular, on-time payments can boost your credit score or help keep it high, but even a single late payment can drop your score by over 100 points.

Failing to pay your credit card bill on time also leads to late fees and interest charges. This increases your balance — sometimes significantly, depending on the card’s interest rate. These extra costs could make it more difficult for you to pay back what you owe, resulting in a stressful debt cycle that could last for years.

Whether you’re searching for a partner or not, paying all your bills on time is best if you’re able to do it. Set up automatic payments or create reminders for yourself so you don’t forget. If you think a payment is going to be late, reach out to the creditor to discuss your options. And if you have credit card debt, make repaying it a top priority.

2. Having a financial planner

A little over a quarter of singles liked the idea of a prospective partner working with a financial planner. This might be because it indicates that the person is forward-looking and focused on saving for their future.

Financial planners can help people prioritize and work toward their long-term goals, and they may help them choose investments as well. These services come at a cost, but many are willing to pay, especially if they lack the time or the confidence to make these decisions for themselves.

But it’s important to note that you don’t need a financial planner in order to successfully save for your long-term goals. It’s never been easier to educate yourself about how to invest or the best accounts for your money. If you’re willing to learn, you could save yourself the cost of a financial planner.

3. Tracking sales and using coupons

About 26% of singles surveyed said they consider it attractive if their partner pays attention to sales and uses coupons to save money. This indicates a frugal mindset and suggests that the person thinks through their financial decisions carefully.

It’s not too difficult to start doing this if you haven’t already. You can conduct an internet search for online coupons for just about any store, and your local newspaper may also have coupons for groceries or local businesses.

You can stay up to date on upcoming sales by subscribing to the mailing lists for retailers you frequent. Some may also send exclusive offers through these emails. Paying attention to online and newspaper ads can also help you identify savings opportunities.

Ultimately, everyone has their own preferences in a romantic partner, and the things above will matter more to some people than others. But they’re not bad habits to develop, even if you don’t plan to enter a relationship anytime soon. By making these moves a part of your financial routine, you could find yourself with more cash to spare.

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Making a profit isn’t guaranteed under these circumstances. 

The last few years have been a wild time to watch the housing market. Home sellers have had the edge over buyers for much of that time, but the tide has begun to turn a little. Mortgage rates were a lot higher in 2022 and remain high this year so far (as of this writing, the average rate on a 30-year fixed-rate mortgage is 6.5%, per Freddie Mac). Plus, higher home values have priced many potential buyers out of the market, meaning sellers who list in 2023 may have a harder time finding the right buyer.

If you’re on the fence about selling your home in 2023, here’s a few reasons you may want to wait until 2024 — or beyond.

1. You just bought it (or refinanced it)

I understand about indecision — but in an ideal situation, you aren’t looking to sell so soon after buying a home. Maybe you made a snap decision in 2020 or 2021, when buyers could still get a mortgage at under 3% interest, and you bought a house in an area that just isn’t working for you. Or the home you bought isn’t feeling quite right, and you’re lacking the money to change it to be what you want. Alternatively, perhaps you bought your home several years ago, but refinanced it in the days of low interest rates.

In any of these scenarios, you would have had to put money into the purchase (down payment, closing costs, and various other fees) or refinance (closing costs again). If you sell in 2023, you’re not guaranteed to recoup your costs, and buyer demand is being impacted by those higher mortgage rates. In general, it’s not a great idea to buy a home if you don’t intend to stay at least five years (and some finance gurus even say 10 years). Remember, it’s not cheap to buy, own, or sell a house, so give yourself the best chance to make money on the sale by staying longer.

2. Your income hasn’t increased since you bought

Remember those higher interest rates we discussed earlier? What about the higher home values? If you bought your home several years ago (or more), you may be shocked to learn that the median sale price of an American home as of Q4 2022 was $467,700, per the Federal Reserve Bank of St. Louis. In fact, the average salary needed to afford a home purchase now has also gone up to $107,281, according to Redfin data.

Of course, if you’re selling and you’ve been in your home a while, you might make a profit on the sale even if your own income hasn’t kept pace with higher home prices. But will that profit be enough to help you stay on the property ladder if you live in a part of the country with a booming real estate market?

3. You don’t want to compete for a new home

Finally, if you decide to sell your home in 2023 and intend to turn around and purchase another one, you may find yourself in competition with other buyers, as demand still outstrips supply so far in 2023. Bidding wars are really only fun for home sellers, and are stressful and upsetting for buyers who have likely waited a long time to be able to buy a home and keep seeing their offers get beaten.

Perhaps it’s a better decision to wait to sell your home and buy a new one when the market is more at an even keel for buyers and sellers. This could mean losing out on some profit on the sale of your own home, but why make it harder on yourself to buy a new one?

Think long and hard about your circumstances (financially and otherwise) as well as the market at large if you’re considering selling your home this year. Buying and selling real estate certainly isn’t cheap, but if you wait until the optimum time for you, you might not end up in the red.

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Programs like WIC help families afford nutritious food. 

With today’s high cost of living and soaring inflation, it can be a challenge to afford everyday essentials. Regular trips to the grocery store can drain your checking account balance. For low-income mothers with young children, it can be even more difficult to afford everyday expenses. Soon-to-be mothers and women with young children who qualify for the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) can get financial assistance to buy eligible nutrition items. Find out what you need to know to determine if you qualify for this program.

WIC helps moms, babies, and young children

WIC is a federally funded program that helps millions of families throughout the U.S. The program is available to low-income pregnant, breastfeeding, and postpartum women and their infants and children up to age 5 who are at nutritional risk.

The following benefits are available to program participants:

Supplemental nutritious foodNutrition education and counselingBreastfeeding supportScreening and referrals to health, welfare, and social services

Interested women must apply and meet the eligibility requirements. State agencies determine eligibility and provide benefits and services to participants.

Program eligibility requirements

If you struggle to afford nutritious food and drinks for yourself, your baby, or your child, you may want to apply for WIC benefits. All applicants must meet categorical, residential, income, and nutrition-risk requirements to qualify.

Categorical requirement

The following individuals are considered categorically eligible for WIC:

Pregnant women (during pregnancy and up to six weeks after the birth of an infant or the end of the pregnancy)Postpartum women (up to six months after the birth of the infant or the end of the pregnancy)Breastfeeding women (up to the infant’s first birthday)Infants (up to the infant’s first birthday)Children (up to the child’s fifth birthday)

Residential requirement

Applicants must live in the state in which they apply. For applicants in areas where WIC is administered by an Indian Tribal Organization (ITO), they must meet the residency requirements established by the ITO.

Income requirement

Applicants must also meet the income requirements. Each state agency’s income standard must be between 100% of the federal poverty guidelines and not exceed 185% of the federal poverty guidelines. If you’re a low-income household, you may qualify for benefits.

Nutrition-risk requirement

Applicants must also be seen by a health professional to determine whether they’re at nutrition risk. An individual is at a nutritional risk if they have medical-based or dietary-based conditions. In most cases, applicants can visit a WIC clinic at no cost to determine this.

How to apply for benefits and learn more about WIC

If you’re interested in learning more or want to apply for benefits, you can contact your local or state WIC agency to schedule an appointment. Applicants should bring documentation that helps show their eligibility — so be sure to ask what you need to bring. Not sure if you meet the eligibility requirements? The United States Department of Agriculture also has an online WIC prescreening tool that can be used to gauge whether you might qualify for benefits.

Don’t be afraid to use resources like this

If you’re struggling financially, please know that you’re not alone. Life gets more expensive every day, and many families struggle to afford living costs while trying to tackle essential personal finance goals. Don’t be embarrassed to utilize resources like this; they exist for a reason. Programs like WIC can help reduce your everyday living expenses and ensure you and your children get the necessary nutritional support.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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