Financial Disagreements Cause Breakups for 14% of British Couples

2023-12-08 14:03:04

The Surprising Reason Why 14% of Brits End Relationships

It's an undeniable truth that while money doesn't dictate happiness, it certainly has the power to create a whole host of issues—relationship struggles included.

Have you ever found yourself in a heated discussion with your partner about money matters? You're not the only one—this situation is more common than you may think.

In a recent report by Monzo, the degree to which finances cause friction in relationships was laid bare, highlighting an average of five disputes per month among couples over financial concerns.

Festive Financial Frets

As the holiday season draws near, the financial pressure tends to mount, leading to increased quarrels among almost one-third (30%) of couples. The root causes? Gift exchanges between partners (19%) and for the in-laws (17%) top the list of contentious issues.

A spotlight on the financial challenges faced by couples was cast by the UK's largest digital bank through their study. Findings suggest that financial incompatibility is a significant hurdle, with over 4.3 million UK residents believing their significant other maintains an unhealthy relationship with money.

Common splurges like treating oneself to pricy indulgences can further fuel financial discord.

Strikingly, financial disagreements have led to 1 in 7 Brits (13%) calling it quits on their relationships. The taboo nature of money talks could be a contributing factor to such outcomes, spotlighting a need for better communication regarding financial issues.

Seeking Solutions

In response to their findings, Monzo is teaming up with love guru Paul Brunson—well-known from "Married At First Sight"—to aid couples in harmonizing their financial discussions.

Brunson and Monzo's initiative includes a complimentary video guide series crafted to aid couples in managing money-related conversations through every relationship stage.

Transparency is key in conversations about money, as underscored by the expert. Brunson emphasizes, "Almost half (47%) of individuals have concealed financial truths from their partners." This reveals that clear communication is often a stumbling block for many couples.

Take a look at the first episode of Brunson's collaboration with Monzo below:

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