A British survey released on Friday showed that money was the most common cause of arguments among couples.
Mutual Pensions and Investments Provider Royal London said that nearly two-thirds (62 per cent) of people who admitted arguing with their partners said they had such disagreements over money.
According to the research released ahead of Valentine’s Day coming up on Feb. 14, the most common cause of these arguments was “spending too much”.
The research stated that a third (33 per cent) of people also believed that they were incompatible with their partners when it comes to spending and saving.
One in four (24 per cent) people in a relationship considered their partners to be irresponsible with money, it said.
And a third (33 per cent) also kept financial secrets from their partners, including hiding savings pots and having undisclosed debts.
A fifth (20 per cent) of people who did not think their partners were responsible with keeping money and secret saving pots.
It added, “Three-quarters (76 per cent) of couples keep some or all their banking separate from their partners.
“Around a third (35 per cent) keep all their money in separate accounts, while just 24 per cent of couples hold everything in a joint account,’’ the survey of 2,000 people across the UK found.
Sarah Pennells, the Consumer Finance Specialist at Royal London, said “while it may not seem like the most romantic topic, if you don’t talk about what you each want from your finances and how to manage your money, it’s likely to result in more frictions and arguments.”
She added that “It’s also important not to let financial concerns simmer beneath the surface.
“Being more open with one another about money and financial goals will also help couples to build a financially secure future.”
