Financial issues have led to breakups for one in six Australians, according to a new survey from Finder.
The survey, which gathered insights from 1,096 participants, exposes the significant impact of financial troubles on personal relationships, affecting approximately 3.2 million individuals across the country.
Among the key findings, 6% of respondents cited unpaid debt as the catalyst for their breakup, while 5% attributed their relationship woes to low income or a lack of savings.
Alarmingly, another 5% reported being separated from their partners due to a deficient understanding of personal finances, totaling to a substantial one million people facing such challenges.
Financial stress
Sarah Megginson, a personal finance expert at Finder, emphasised the profound influence of financial stressors on relationships, irrespective of their duration.
She noted that discussions around money are often avoided due to societal taboos, but they are crucial for fostering understanding and alignment between partners.
Megginson urged couples to address financial matters openly, particularly before making significant joint decisions.
Age groups
The research highlighted a pronounced disparity among different age groups, with Generation Z individuals, aged 18-24, experiencing the highest rate of breakups linked to financial issues.
Megginson emphasised the importance of transparent communication and mutual agreement on financial priorities, even if partners maintain separate bank accounts.
In conclusion, the study underscores the necessity of proactive communication and financial compatibility in sustaining healthy relationships.
As financial challenges continue to exert pressure on individuals and couples alike, fostering open dialogue and shared financial goals emerge as essential strategies for navigating these turbulent waters.
