Yahoo Finance Aussies breaking up and making up to keep costs down
The cost-of-living crisis is having a big impact on Aussies’ romantic lives.
Have you got back with an ex to save money? Well, it turns out you’re not the only one.
New research by Finder revealed the cost-of-living crisis was putting a strain on more than one in five Aussie relationships.
Couples are lying to each other about their spending (9 per cent) and debts (7 per cent), and some are even choosing to break up (3 per cent) or make up (3 per cent) with their significant other to save money.
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Money was already a major sore point for couples, Finder head of consumer research Graham Cooke said, and the cost-of-living crisis was exacerbating pressures.
“Households are facing some very dire financial circumstances and not even romantic relationships are off limits when it comes to cost-cutting,” Cooke said.
“It seems relationships are under stress just as much as bank accounts.”
Some Aussies have had to ask a current partner or ex for money to help them get by (5 per cent), while others have had to continue living with an ex after a break-up to avoid the extra housing costs (4 per cent).
The cost of being single certainly doesn’t come cheap. Recent research by Compare the Market found singles were potentially forking out more than $13,494 to $14,820 per year on rent or mortgage repayments, compared to their coupled-up counterparts.
And when you add the cost of dating, solo travelling and daily costs like groceries, fuel and energy bills, the ‘single tax’ becomes even greater.
“Whether single or with a partner, look to plug any financial leaks - like unused subscriptions and overpriced energy bills,” Cooke recommended.
“If you are in a couple, there are ways to recession-proof your relationship, including talking about your finances regularly, setting financial goals together and having a shared budget.”
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