The secret to finding love and sustaining a happy relationship is about being able to balance the books, not about how you look, according to consumer research conducted by NEST (National Employment Savings Trust).
The research, which surveyed UK adults in long term relationships or with recent experience of a long term relationship, found that almost half of us (45%) see good financial management as essential in our ideal long term partner. In fact ‘someone who manages their finances well’ comes ahead in the list of desirable qualities above some more obvious factors, such as good looks, wealth, the car they drive or whether they own their own home.
Once you’ve found The One, it seems managing your money is the way to keep them, with 89% saying ‘good financial planning’ is important for happy relationships.
More than one in ten (11%) 25-30 year olds say they frequently argue about money in their relationship and across all age groups over two thirds (67%) say they disagree with their partner at times when managing shared finances.
Disagreeing over priorities is the biggest source of financial arguments across the board, stated by 38% of all respondents, followed by not communicating (23%) and lack of planning (20%).
Among 20-35 year olds, 22% say lying to each other about spending and debts is the most common cause of arguments.
If unresolved, financial arguments can even lead to the end of your relationship, with two in five of all respondents who had experienced a relationship breakdown admitting that financial issues were at least partly responsible. Recent ONS research found that rows about money during the recession triggered a rise in divorces.
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