One in three Australians fight over money at least once a month

Supposedly loved-up couples are constantly bickering about money behind closed doors, but just what does it take for lovers to break up over cash?

Exclusive: Supposedly loved-up couples are constantly bickering about money behind closed doors and many are fed up with partners blowing their hard-earned cash.

Alarming new figures showed one in three Australians admit to arguing with their partner at least once a month over their fiscal affairs.

The research from financial comparison website Mozo found some of the biggest reasons for an argument to break out between lovebirds includes destructive spending on gambling, booze or cigarettes.

As for singletons seeking love, how a person handles their financial affairs can determine whether they enter a relationship or not.

MORE: Your credit card debt could rise

MORE: How much do parents spend on dining out with their children?

One in three Australians admit to arguing with their partner at least once a month over their fiscal affairs.

Mozo’s spokeswoman Kirsty Lamont said Australians were becoming less tolerant with bad financial behaviour and many weighed up how a person handles money before going down the relationship road.

“Money issues are causing a lot of problems with relationships and also surprisingly it’s also a big relationship turn off for potential partners,” she said.

“If it turns out their partner is mismanaging money that can be a real source of tension for people especially when the cost of living is so high and households are under financial pressure.”

The research which quizzed 1000 Australians found busting up over money mismanagement resulted in 20 per cent of lovebirds calling it quits on previous relationships.

And it’s not just about looks and personality, adding a person’s financial status is now on the list of criteria for many hopeful lovers.

Many Australians are weighing up how a person handles money before going down the relationship road.

Tribeca Financial’s chief executive officer Ryan Watson urged couples to be open and honest with each about their financial status at all times.

“A lack of money or financial assets can be a sign of people not being able to get their act together, not exactly a positive when you are trying to attract a life partner,” he said.

“The key to removing financial angst from a relationship comes from having honest, frank conversations about each partner’s goals.”

As for raking in a decent salary one in four admitted to having a disparity in earnings created tensions between each other.

As for debt levels the data found one in two Australians said personal debt of more than $10,000 was enough for them to reconsider entering a relationship.

HOW COUPLES CAN MANAGE MONEY

— Be open and honest with each other

— Set out your financial goals together

— Do not hide discretionary spending

— Engage a financial professional

[e-mail]

@sophieelsworth

Originally published as One in three Australians fight over money at least once a month