Is debt keeping you in an unhappy relationship?
The results of a recent survey suggest that nearly a fifth of people have stayed in a relationship because of financial difficulties.
The Debt Advisory Centre, a provider of debt help, carried out the survey of 2,000 British adults to find out how many people remain in relationships simply because they don’t feel they can afford to break up.
Nearly one fifth of respondents (18.9%) reported having been in this difficult situation at one time or another, stuck between ending a relationship and facing up to the financial realities of separation.
Of these, two fifths (42.85%) had found themselves staying in struggling relationships for over a year, and nearly a quarter (24.33%) had limped beyond the three-year mark in relationships they knew weren’t working.
Those living in London were most likely to have stayed with a partner because of financial worries, with a third of Londoners professing to have found themselves in this situation at some point.
The age group most prone to this situation is 25-34, which coincides with the age many people are seeking to get on the property ladder and start a family.
Penny Mansfield, Director of OnePlusOne, says:
“The stress and worry of debt can affect how you get on with your partner so it’s important to be sure in your own mind whether the relationship is over or if it’s just a bad time in your relationship that could pass.
“If you are thinking of sharing a home with your partner because it seems more affordable, think twice. Breaking up is rarely easy but it can be even more difficult when you are financially involved with each other”.
Have you ever found yourself staying with someone because you’re worried about the financial impact of a breakup? If you’re struggling with your finances, you might find it helpful to read our articles on arguing about money and how to talk to your partner about money.