It’s not you, it’s your debt: couples call it quits over finances

A survey found one third of respondents have ended or would end a relationship due to debt

Cropped shot of an unrecognizable mature couple sitting on the sofa with their arms folded after an argument

With the most romantic day of the year fast approaching, a new survey from Credit Canada finds that 33% of Canadians have either ended or would end a relationship because of their or their partner’s debt. 

The leading reasons respondents cited for calling it quits was a lack of financial honesty (71%) followed by poor money management or spending habits (48%). Only 13% of respondents said they’d end a relationship because of their partner’s income level.

Financial issues were more likely to force women to end a relationship than men.

Three quarters of women (76%) said they have or would break up with their partner over a lack of financial honesty, compared to 65% of men. Similarly, 52% of women said they have ended or would end a romance due to poor money management, compared to 44% of men.

The survey also found that debt is negatively impacting Canadians’ lives, with respondents saying they are losing sleep (34%), avoiding social gatherings (32%), have less motivation (19%) and are limiting friendships and relationships (13%) because of debt.

The findings were based on an online poll of 1,552 Canadians conducted by Angus Reid from Jan. 29 to 30, 2020. Online surveys cannot be assigned a margin of error because they do not randomly sample the population.