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Are money matters affecting your relationship?

What do you reckon keeps you and your partner together or has the ability to drive you apart? The answer may be less about emotions than you think, as a new study suggests money may actually play quite a big factor.

A study by Relate has shown a clear correlation between negative experiences of recession and deterioration in relationships, with those who felt the greatest impact of the recession up to eight times as likely to see their relationships suffer.

However, even if these relationships are unhappy, they’re also less likely to split up.

In fact, 2% less relationships divorce when we were in economic recession than before or after (7.77% during 2011 and 2012, in comparison to 9.67% before and 9.20% afterwards).

However you feel about your relationship – whether you’re very content, or on the brink of splitting, talking about money is very important.

Money and your relationship

There is no one size fits all approach for dealing with money. You may find some areas where you’re pleased to share responsibility, and some where you need to reach a compromise.

There are lots of different ways to separate your finances – you may choose to keep separate accounts; share and manage everything as a couple; share some responsibilities but keep some things private; or have the main earner pay their partner an ‘allowance’.

There are pros and cons to all of these methods, and it’s a case of personal circumstance and what you’re comfortable with. However you decide to deal with your money, trust and fairness is really important.  

If you don’t have control of your money  

If your partner is controlling your money or running up debts in your name, it’s financial abuse. 

Financial abuse can leave you feel isolated, lacking in confidence and trapped. But there are places you can go that will help you such as Women’s Aid or Men’s Advice Line.

Considering divorce or separation?

If things have reached a point where you no longer want to be with your partner, it’s important to think about your finances. Different options can be at different price points – using a solicitor will be more expensive than an online divorce or dissolution service for example, but you may feel you need a solicitor’s expertise.

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  • Nina street / 29 May 2016

    In disabled my wife knew this when we got married . She walked on me a year ago . I pay all the bills she pays the mortgage. She know wants the house Sold . I have no place else to live . She can live with her family they all have room . That's were she has been living . Can she make me homeless.
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    ADMIN: Nina, you can contact our advice line to talk through the situation and they will be able to point you in the right direction. 0800 138 7777