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Did you know this about money?

Tags: money worries, worried, worry, problems, problem, with, trouble, troubles, stress, relationship, issues, arguments, couples, cohabiting, married, household, families, men, women, children, survey
Categories: Money

Did you know that concern about money worries was rated higher than any other issue for couples in a recent survey for One Plus One. Couples argue about money because it has an undeniable impact on our lives and on the lives of our children. Below you will find some interesting statistics about what other couples do with their money, how they organise it and what they spend it on.

How do couples organise their money?

  • 24% of cohabiting and 53% of married couples pool all of their money taking what they need from the pool. (1)
  • 31% of cohabiting and 12% of married couples keep their money separate. (1)

How much do couples spend?

  • In 2007 the volume of UK domestic household expenditure was 2.7 time greater than in 1991. (2)
  • Average weekly household expenditure in 2006 was £445.90. (3)

What do couples spend their money on?

  • Since 1957 the proportion of average weekly expenditure spent on food and non- alcoholic drinks has halved from 33% to 15% in 2006. (3)
  • 1% of the average weekly income is spent on cigarettes (3)
  • The most costly outgoing for families is housing in the form of mortgage or rent. (3)
  • We now spend more on fresh vegetables than in the past spending 0.8% of our average weekly income on them. (3)

Do couples argue about money?

  • 51% of men and women felt that money caused concern in their relationship.
  • In a survey for 4Children, 22% of people surveyed felt that tight finances were the biggest threat to family life. (4)

How many of us are in debt?

  • In 2006, 42% of individuals in Great Britain had some form of unsecured debt. (5)
  • In 2006, 19% of individuals owed money on a credit card. (5)
  • In 2010, 53% of mothers said they had built up debt in the first months of their baby's life, with a quarter using credit cards and 23% relying on their overdraft. (6)

References

  1. You Gov. (2007). Marriage and Divorce YouGov / Sunday Times Survey Results. Available from http://www.yougov.co.uk/extranets/ygarchives/content/archivesMain.asp?rID=4
  2. National Statistics. (2009). Social Trends 39. Hampshire: Palgrave Macmillan. Crown copyright material is reproduced with the permission of the Controller of HMSO and the Queen's Printer for Scotland.
  3. Dunn, E. ed. (2007). Family Spending. Hampshire: Palgrave Macmillan. Crown copyright material is reproduced with the permission of the Controller of HMSO and the Queen's Printer for Scotland.
  4. 4Children. (2009). Family life gets harder for 50% of Britons. Available from http://www.4children.org.uk/information/show/ref/1584.
  5. National Statistics (2008) Social Trends 38. Hampshire: Palgrave Macmillan. Crown copyright material is reproduced with the permission of the Controller of HMSO and the Queen's Printer for Scotland.
  6. Bounty Parenting Club questioned 2,335 women in September 2010.
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