If you're in a relationship, AND you're not looking anymore, then you have settled. Here's my train of thought.

  1. You haven't met everyone in the world

  2. There's always someone who would be hotter, more compatible, better chemistry, better XYZ than your partner

  3. Since you're no longer looking for someone better, you have literally settled for what you got.

This doesn't take anything away from your partner. But, it should be ok to admit the truth. We readily admit we settle for all kinds of things, except for when it comes to a romantic relationship for some reason.

DISCLAIMER: I'm not saying settling is a "bad thing".