Consumer Payment Card News

Financial Discord

The recession is putting a wedge into American marriages as the position of primary breadwinner has changed over the past six months due to job losses or salary decreases. A new survey found that 43% of U.S. couples, and almost a third of all couples surveyed, say the recession has caused them to argue more often, primarily about finances and household chores. PayPals third annual “Cant Buy Me Love” international survey indicates that at least 10% of couples surveyed say they have ended a relationship due in part to financial issues. The U.S. and Mexico ranked the highest at 14%, the Netherlands the lowest at 5%. Respondents also differed greatly in the amount of debt they currently hold. In Mexico, only 15% of respondents claimed no debt, versus 51% in Italy and roughly a quarter of U.S. and Australian respondents. Around the world, well over half of all couples are keeping separate bank accounts. PayPal found that money is the number one cause of arguments among U.S. couples (31%) followed by household chores (28%), in-laws (22%) and sex (15%). Finances are least troublesome among couples in the
Netherlands and the U.K., where less than 20% of couples argue about money. Financial issues are the most troublesome in Australia, Mexico and the U.S. where more than 30% of couples have money issues.

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