Some people may believe that money and prestige can solve all problems, but experts say that's not always the case when it comes to finding true love.
Celebrity and executive divorces seem to reflect this phenomenon as the elite try to safeguard their wealth.
Concerns about money aren’t exclusive to the ultra-rich, of course.
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Nearly a quarter (22%) of divorces in North America are the result of ongoing money issues and arguments, according to the Institute for Divorce Financial Analysts, which cited statistics gathered from a certified divorce financial analyst survey.
Here’s what money management professionals, lawyers and relationship experts say about well-off singles and how they can protect their finances — whether they’re looking for love or are already married.
Couples who fight about finances are usually not fighting about money itself, but the values and habits surrounding it.
That's according to Laura Wasser, a Los Angeles-based divorce attorney who serves as chief of divorce evolution at divorce.com. She works with rich and famous clients including Britney Spears, Ariana Grande and Kim Kardashian.
"Disagreements on spending habits, differing financial goals, or one partner feeling like they bear the financial burden can strain a relationship," she told FOX Business.
Taylor Kovar of Lufkin, Texas, the CEO of the Kovar Wealth Group and The Money Couple personal finance blog, said affluent singles should watch for concerning personality traits when they’re dating.
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Potential partners who appear materialistic, codependent, impulsive, secretive, entitled or in need of a financial savior could spell trouble when serious money conversations come up.
These personality traits could lead to personal finance red flags that may wreak havoc on a romantic relationship, according to Kovar, who’s also a certified financial planner.
Three personal finance red flags that wealthy singles should look out for include the following.
"While enjoying finer things is OK, someone overly focused on material possessions might be more interested in your wealth than you," Kovar said.
Singles who want to protect their finances should be wary of dates or partners who begin living beyond their means or expect someone else to fund an extravagant lifestyle without a clear reason, Kovar warned.
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He added that potential partners who feel they deserve a certain lifestyle or financial benefits without contributing or working toward those upscale desires might not be the best match for those who want to protect their wealth.
"If someone is reluctant to discuss finances, debts or their financial past, it might indicate they're hiding something," Kovar said.
Relationships that have healthy and open communication make it easy for partners to talk about money or past financial dealings, according to Kovar.
Affluent singles should be wary of potential partners who are "secretive or evasive" about their personal finances, Kovar said.
"Be wary of someone who pushes for joint financial decisions or investments early in the relationship," said Kovar.
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Someone who may become "overly reliant" on a partner’s income or portrays himself or herself as someone who needs rescuing might not be the best match if you're protecting your funds, according to Kovar.
Mary Hines Droesch, head of consumer and small business deposit products at Bank of America in New York City, told FOX Business that wealth management tips vary by each person’s financial status.
There are three considerations that Hines Droesch believes affluent singles should think of long before they pursue a serious relationship.
"Take time to honestly discuss your short- and long-term financial goals and priorities," said Hines Droesch.
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"This can range from how much date nights should cost and what your everyday spending looks like to your aspirations to save for a home or start a family."
Sharing one’s goals with a romantic partner can help a couple build a "fair and manageable" budget, so neither party spends above their means, according to Hines Droesch.
"Emergency funds can act as a financial cushion for unforeseen events," said Hines Droesch.
"Save anywhere from three months to one year’s worth of living expenses — whatever you can manage."
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Monetary contributions can be increased depending on an individual’s lifestyle, she added.
Personal emergency funds can help couples survive hard times, even if a couple decides to combine finances in joint accounts, said Hines Droesch.HOW MUCH DOES DIVORCE COST?
"Your personal emergency fund shouldn’t be accessed unless absolutely necessary," she noted.
Hines Droesch recommended that affluent singles consult a financial adviser to "ensure that all steps and measures" are taken to protect financial assets.
"Seeking advice from a financial professional is very helpful, especially when you need to create a plan to manage the complexities and unexpected events that arise as you grow your wealth," she said.
"A financial adviser can help you work toward the unique long-term financial goals you have for your family, a potential partner and for yourself."
Russel Morgan, an estate planning lawyer and principal at the Morgan Legal Group in New York City, told FOX Business that "overspending on frivolous things" and having "major credit card debt" are two personal finance issues that can strain a relationship, especially if one party is mainly the case of the issue.
"Delinquent debts, even consistent late payments, are major red flags," he said.
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Morgan recommends that affluent singles take steps to place their money in accounts where it can’t be withdrawn as easily, including high-yield checking and savings accounts, 401(k)s, IRAs, certificate of deposits, stocks and other investments.
Individuals can also start a trust or LLC if they’re entrepreneurs and need to keep business and personal accounts separate, according to Morgan.
"Diversify your investments. Make sure you have a healthy mix of high- and low-risk investments to offset the potential for loss on your high-risk investments," he said.
If they're married, Morgan recommends that couples contact a certified public accountant or lawyer to help with budgeting.
Holly Davis, a founding partner at the Kirker Davis law firm in Austin, Texas, told FOX Business that couples should discuss finances long before the wedding day.
"Just as you would discuss honeymoon plans, your relationship with your soon-to-be in-laws, whether to have children," couples should discuss their finances, she said.
"It's all part of planning to share a life together," she added.
Davis recommends premarital financial counseling for couples that want to get an in-depth look at their financial standing.
"Premarital financial counseling is a lower-cost alternative to a prenuptial agreement and unlike a prenup, it's built on the assumption that the couple will stay married forever, and they just want to start their joint finances off on the right foot, and get on the same page financially," Davis said.
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Questions that can be addressed during formal counseling sessions include whether a couple is planning to pursue traditional employment or self-employment, figuring out how debt will be handled, listing existing property or assets and sharing thoughts on retirement.
Davis said these four questions help couples understand each other and see if their financial styles are a match.
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"Even you're already married, it's certainly not too late," she added.
"Many couples even do a postnuptial agreement, instead of a prenuptial agreement. It's becoming more common."
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