These Are the Biggest Financial Red Flags, According to Singles

Do you have any of these?

There's a lot to consider when deciding who to spend your life with. You want someone you feel safe with and who shares some of your interests. But you also want to make sure you're compatible and able to tackle tough challenges when they arise. This is especially important when it comes to sharing financial responsibilities.

Everyone has their own personal money philosophy, and small differences between significant others are OK -- even beneficial. But certain financial behaviors and attitudes could scare off prospective partners. Here are three of the biggest financial red flags, according to a recent Bread Financial survey of single adults.

1. A gambling problem

A gambling problem was the hands-down biggest issue for singles, with 67% listing this as a financial deal breaker. It's not too difficult to understand why. People with gambling addictions can rack up significant debts, and their partners may not be aware of their behavior right away. This can pose serious problems for financial planning and saving for long-term goals.

A gambling problem, like any addiction, isn't easy to overcome, but it's well worth the effort. The National Council on Problem Gambling is a great place to begin if you think you might have a problem. You can also reach out to family and friends for support.

2. Paying the minimum amount on a credit card bill

About 35% of singles admitted to being wary of partners who only paid the minimum balance on their credit card each month. Doing this likely means you'll carry a balance, and this will accrue interest over time. Credit card interest rates are high, especially for those with poor credit. Some have annual percentage rates (APRs) of 30% or more, which could add hundreds of dollars to your balance each year.

It can be difficult to get out of the cycle of credit card debt once you get into it, particularly if you continue to charge new purchases to the card each month. As your debt grows, you may find it more difficult to save for your long-term goals and you might have a more difficult time borrowing money in the future.

Lenders look at your credit utilization ratio -- how much of your available credit you're using each month -- when calculating your credit score. Using a lot of your credit limit tells lenders you may be living beyond your means. Because of this, they might be reluctant to lend to you or charge you higher interest rates.

If you have credit card debt, make repayment a top priority. Note your balance and interest rate on each card. Then, after making the minimum payment on all cards to avoid late fees, put all your extra cash on the card with the highest interest rate first. When that's paid off, move onto the card with the next-highest interest rate. You could also try a balance transfer credit card instead. Once your debt is all paid off, try to pay your balances in full each month.

3. Large impulse purchases

Everyone is guilty of making an impulse purchase once in a while. When they're infrequent and small, they're not a big deal. But making large impulse purchases can make it difficult to budget and save for long-term goals. This is probably why 31% of singles listed it as a major red flag in a partner.

Adhering to a budget can help reduce impulse purchases. After paying your essential bills, dedicate a portion of your leftover cash to savings and a portion to spending on whatever you like. If you'd like to make a large purchase, save up for it over the course of several months rather than buying it immediately.

When you and your partner are managing finances jointly, you'll have to agree on how to best handle discretionary purchases. You might each allow yourself a certain dollar amount you can spend each month without consulting your partner. Or you might agree that you need your partner's approval for purchases over a certain dollar amount.

As with any aspect of your relationship, good communication about money is key. If you have any concerns about your partner's money habits, address them. And if they have any concerns about yours, try to be open and work toward a solution that suits both of you.