Art Rainer: Don’t Let a Long-Distance Relationship Ruin Your Finances

You can’t put a price on love, right? In a sense. But those engaged in a long-distance relationship will tell you that there certainly is a cost.

According to reports from StatisticBrain, 14 million people are in long-distance relationships. The average distance between the couples is 125 miles. Thirty-two percent of college students are involved in long-distance relationship. And even if you are not dating someone from a distance, you are probably open to it.

For those who have been a part of a long-distance relationship, you are familiar with the challenges. Of course, there are relational challenges. But there are also financial challenges. Dinner and a movie is not a cheap event when plane ticket costs are involved. Long-distance relationships can wreak havoc on your finances if you are not careful.

So how can you make your current or future long-distance relationship more cost effective?

TALK ABOUT THE COSTS.

Don’t act like finances are a non-issue. Sweeping the financial implications of the relationship under the rug will only leave you broke and bitter. You don’t want to put your girlfriend or boyfriend in a bad financial spot. And, hopefully, they don’t want that for you. You don’t have to do a deep dive into your financial situation, but you need to have the freedom to say, “I can’t afford that.”

Don’t go into debt to date.

BUDGET DATING COSTS.

A budget is your plan to align your giving, saving and spending with your income. If you are in a long-distance relationship, your budget should look different than someone who is not dating from a distance. The amount you spend on the relationship may require the reduction of other expenditures. You may have to lessen the number of time you eat out with friends to afford the next time you visit your girlfriend or boyfriend. Plan these costs so that they do not create financial turmoil later. Use a budgeting app like brightpeak’s Illuminate to make this step effortless

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Source: Relevant Magazine

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