New research from Elevate’s Center for the New Middle Class suggests the quality of your Valentine’s Day may be affected by the quality of your credit score.
According to the results, nonprime Americans are 45 per cent more likely to be divorced.
“This latest research raises an interesting question about cause and effect,” Elevate’s Center for the New Middle Class Jonathan Walker said. “Are people getting divorced because stressful finances put pressure on relationships, or are people becoming nonprime because divorce has negative financial consequences?
“Regardless of the cause, it’s clear that financial pressures are greater in nonprime couples, and that people experiencing financial difficulties are more likely to be nonprime.”
Other results from the survey about nonprime Americans include:
- 20 per cent of married, nonprime Americans feel they have little control over their lives.
- More than half run out of money every two or three months if not sooner.
- 80 per cent say they cannot regularly save money.
- They are twice as likely to carry a credit card balance.
- They are twice as likely to have lost a job in the last five years.
- They are 1.4 times as likely to have experienced pay or work hour cuts in the last five years.
- They are nearly three times as likely to worry about monthly expenses.
- They are 1.5 times more likely to admit their finances cause significant stress.
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