Money can’t buy you love (according to The Beatles, at least) but it can apparently end some Canadian relationships.
A recent survey conducted by the Angus Reid Global on behalf of Credit Canada found that around one-third of respondents would break up with, or have broken up with, their partners because of debt.
The survey was conducted from January 29 to 30 with a sample size of 1,552 Canadians, and found that 33% would call it quits on their partner — and their partner’s debt — if it came down to it.
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Of that 33%, the majority (71%) stated that hidden debt or purchases (or any type of financial dishonesty, really) would be the death-blow to a relationship, while 48% of that group stated that poor money management or spending habits would end it.
Only 13% of respondents who would end things due to debt cited income as the leading financial reason for ending a relationship.
The survey also found that, instead of speaking about their own debt with their partner, more than one in 10 respondents would rather end things themselves.
“Perhaps most surprising is that 11% actually picked a fight or broke up with their partner instead of just being honest about their debt and financial situation,” said Adriana Molina, Communications Manager for Credit Canada, in the release.
“We would rather see Canadians break up with their debt and not their partner this Valentine’s Day.”
Don’t let that worry you as we head into this Valentine’s Day weekend, though — Molina noted that most respondents don’t let financial troubles get in the way of celebrating their relationships.
“When it comes to love, Canadians are quite determined – with three-quarters saying they don’t let debt get in the way of celebrating Valentine’s Day,” Molina said in the release.
Those Canadians that do avoid the upcoming holiday because of their debt had some interesting excuses that they’d use, apparently, as included in the survey:
- Three-in-10 said they “don’t believe in Valentine’s Day” (29%)
- One-in-five said they “had to work late” (21%)
- 16% said they “came down with a cold”
- 12% said an “emergency came up”
- 9% claimed they “had an appointment”
So if you hear any of the above this Friday, it miiiight be time for a conversation.