Money to blame for breakups and other Australian financial dating habits revealed

The financial habits of Australian singles have been revealed, showing some juicy details about what makes or breaks a relationship.

Almost half of Australian singles believe using discount coupons on a first date is okay and that bad money management is grounds for breaking up, new data has revealed.

According to Canstar’s 2021 Love and Money Report, which explored how finances affect romantic relationships in Australia, 42 per cent of survey participants were being open to using coupons to secure a dating discount.

When it came to financial stressors, 31 per cent of participants said that money – be it a lack of, questionable spending, or poor habits – played a major role in a recent break-up.

31 per cent of participants said that money played a major role in a recent break-up. Picture: iStock

“Setting your money standards means drawing a line in the sand on what you will and won’t accept when it comes to money habits. This can be everything from who picks up the bill at a restaurant, to how much of your personal financial information you choose to share with your partner,” Canstar editor-at-large Effie Zahos said.

The report surveyed 1049 adults on issues ranging from dating etiquette to income expectations, financial red flags, and secret savings accounts — and revealed telling habits about single Australians, and expectations for a modern romance.

“A partner’s poor money habits can be make or break for many relationships. It’s best to know what page you’re on before you fall head over heels in love and to revisit your money standards if something arises that doesn’t stack up,” Ms Zahos said.

Almost one in five participants said they delegated their financial management to their partners. Picture: iStock

These issues included 18 per cent of participants having a credit card their partner did not know about, 15 per cent of participants being in the dark on their significant other’s income, and almost one in ten participants saying they resented their partner for not financially contributing more.

Seventeen per cent of participants fessed up to delegating their financial management to their partners, because it was in the too hard basket. Worryingly, 15 per cent of participants admitted to having taken money from a partner’s wallet or coin jar before without consent.

“While money doesn’t necessarily buy happiness, it is one of the top causes of breakups,” Ms Zahos said.

“Bills, budgets and debts are hardly the stuff of romance but couples that talk money together have a far healthier financial relationship.”

Sort My Money founder David Rankin said money was often viewed in a negative way in a relationship but it should be approached positively.

“The way you manage money as a couple goes to the heart of your relationship,” he said.

“It’s about sharing responsibility and power, and being fair with each other.

“Sit down and start to plan – that’s the best way to stop the rot.”

Originally published as Money to blame for breakups and other Australian financial dating habits revealed