Money Research with Money Matchmaker®
Are Australians’ relationships breaking down because of money?
A Money.com.au Study February 2023
Last updated: 6 February 2023
About the study
Money.com.au surveyed 1010 Australians, 66 per cent (662 respondents) of which are in a relationship. The survey sought to gauge whether financial stress has negatively impacted relationships and which financial stressors have had the biggest negative impacts.
The pool of survey respondents matches the age and geographical spread of the Australian population.
Questions
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Have Australian couples experienced financial stress in the last year?
Money.com.au sought to discover whether Australian couples have experienced stress surrounding their finances in the last year. Nearly half (41 per cent) of respondents admitted they, or their partner, experienced such stress.
Have you or your partner experienced financial stress in the last year?
Does financial stress impact men and women differently?
The survey found that more women have experienced financial stress in the last year, compared with their male counterparts. The results show:
- 45% of women experienced financial stress
Compared with:
- 37% of men
Have you or your partner experienced financial stress in the last year? By gender.
Do some age groups experience more financial stress than others?
Money.com.au found that younger Australian couples are more likely to have grappled with financial stress over the last year. More than half (57 per cent) of under-30s admitted they or their partner had been stressed over money. This compares with:
- 48% of 31–50-year-olds
- 25% of over-50s
Have you or your partner experienced financial stress this year? By age.
Do people in some States experience more financial stress than in others?
Similar proportions of respondents across the States had experienced financial stress in the last year. Specifically, 45 per cent of NSW and WA respondents had stress over money. This was followed by:
- 44% of South Australians
- 36% of Queenslanders
- 35% of Victorians
Have you or your partner experienced financial stress in the last year? By State.
| Response | NSW (%) | VIC (%) | QLD (%) | SA (%) | WA (%) | ACT (%) |
|---|---|---|---|---|---|---|
Yes | 45 | 35 | 36 | 44 | 45 | 36 |
No | 55 | 65 | 64 | 56 | 55 | 64 |
Has financial stress negatively impacted relationships?
Among the survey respondents who had experienced financial stress in the last year, nearly half (45 per cent) admitted it had negatively impacted their relationship. Specifically, a third (34 per cent) admitted their relationship had been negatively impacted, while 11 per cent indicated it had not only had a negative impact but had caused them to discuss breaking up with their partner.
Has financial stress negatively impacted your relationship. Has it caused you to discuss breaking up?
Does financial stress and its impact on relationships differ between genders?
Interestingly, the survey found that more men than women felt their relationships had been impacted negatively by financial stress. More than half (51 per cent) of male respondents said their relationship has been impacted. Specifically:
- 38% of men indicated financial stress negatively impacted their relationship
- 14% said it negatively impacted their relationship and they discussed breaking up
This compares with:
- 31% of women, who indicated their relationship had been negatively impacted by financial stress
- 9% of women indicated it negatively impacted their relationship and they discussed breaking up
Has financial stress negatively impacted your relationship. Has it caused you to discuss breaking up? By gender.
Does the negative impact of financial stress on relationships differ by age?
Money.com.au uncovered that the younger the respondent the more likely their relationship had suffered due to financial stress. Forty (40) per cent of under-30s admitted their relationship had been negatively impacted. This compares with:
- 35% of 31-50-year-olds
- 25% of over-50s
More younger respondents had also discussed breaking up with their partners due to financial stress:
- 14% of under-50s had discussed breaking up
Compared with:
- Just 2 per cent of over-50s
Has financial stress negatively impacted your relationship. Has it caused you to discuss breaking up? By age.
Does the negative impact of financial stress on relationships differ across the States?
A higher proportion of West Australians (47 per cent) than respondents in any other State have suffered the negative impacts of financial stress on their relationships. This compares with:
- 39% of Victorians
- 34% of Queenslanders
- 33% of South Australians
- 29% of NSW respondents
Similar proportions of respondents across the States had discussed breaking up with their partners due to the negative impact of financial stress on their relationship. Specifically, 18 per cent of NSW respondents had discussed breaking up with their partner. This was followed by:
- 13% of South Australians
- 9% of Victorians
- 5% of Queenslanders
- 3% of West Australians
Has the financial stress negatively impacted your relationship? Has it caused you to discuss breaking up? By State.
| Response | NSW (%) | VIC (%) | QLD (%) | SA (%) | WA (%) | ACT (%) |
|---|---|---|---|---|---|---|
Yes, it has negatively impacted our relationship | 29 | 39 | 34 | 33 | 47 | 0 |
Yes, it has negatively impacted our relationship and we have discussed breaking up | 18 | 9 | 5 | 13 | 3 | 0 |
No | 53 | 52 | 61 | 54 | 50 | 100 |
What aspect of the population’s finances has had the most impact on their relationships?
Money.com.au asked the survey respondents to identify the financial area that has impacted their relationships the most. Unexpected expenses topped the list, chosen by more than a quarter (27 per cent) of respondents. Other areas respondents identified as having the most impact included:
- Low- or no-income earnings (chosen by 21% of respondents)
- Overspending, by them, their partner or their children (chosen by 16%)
- Bills, loan repayments, rent or other due expenses (10%)
- Fear around not being able to pay for everyday expenses (9%)
- Not having enough money for ‘big ticket’ items such as holidays (8%)
- Having to talk about money (7%)
- The state of their bank account/s (2%)
Which of the following has impacted your relationship the most?
Do financial stressors differ by gender?
Money.com.au found differing perceptions of financial stressors across genders. Specifically, more men than women indicated unexpected expenses had the biggest impact on their relationship, at 31 per cent. This compared with:
- 23% of women
More men also identified overspending as a major financial stressor on their relationship, by a small margin. Nearly a fifth (18 per cent) of men identified this area as having the most impact. This compared with:
- 15% of women
In contrast, a higher proportion of women admitted low or no income earned by themselves, their partner or their children had the most impact on their relationship, at 24 per cent. This compared with:
- 17% of men
Which of the following has impacted your relationship the most? By gender.
Do financial stressors and their impact on relationships differ by age?
Money.com.au found that overspending had the most impact on the relationships of younger respondents – a fifth (21 per cent) of under-30s identified this as a major financial stressor. This compares with:
- 14% of over-30s
A higher proportion of younger respondents also indicated that a lack of income, or no income, had the most impact on their relationship – a quarter (25 per cent) of under-30s chose this financial stressor. This compares with:
- 20% of 31-50-year-olds
- 17% of over-50s
In contrast, more older respondents had grappled with unexpected expenses and admitted this had impacted their relationship the most:
- 31% of over-30s chose this financial stressor
Compared with:
- 16% of under-30s
Which of the following has impacted your relationship the most? By age.
Are respondents in different States impacted differently by certain financial stressors?
Unexpected expenses emerged as a top financial stressor impacting respondents’ relationships across the States. Specifically, a third (34 per cent) of West Australians indicated unexpected expenses had impacted their relationship the most. This compares with:
- 33% of South Australians
- 29% of NSW respondents
- 23% of Queenslanders
- 16% of Victorians
A higher proportion of West Australians had also grappled with overspending and its impact on their relationship, at 28 per cent. This compares with:
- 18% of Queenslanders and Victorians
- 13% of NSW respondents
- 8% of South Australians
In contrast, higher proportions of respondents in Victoria and Queensland indicated that fears around not being able to pay for everyday expenses had impacted their relationship the most, by a small margin. Fourteen (14) per cent of Victorians and Queenslanders selected this financial stressor. This compares with:
- 6% of NSW and WA respondents
- 4% of South Australian
Has the financial stress negatively impacted your relationship? Has it caused you to discuss breaking up? By State.
| Response | NSW (%) | VIC (%) | QLD (%) | SA (%) | WA (%) | ACT (%) |
|---|---|---|---|---|---|---|
Overspending (by me, or my partner, or our kids) | 13 | 18 | 18 | 8 | 28 | 0 |
Low or no income earned (by me, or my partner, or our kids) | 21 | 21 | 27 | 21 | 9 | 25 |
Unexpected expenses | 29 | 16 | 23 | 33 | 35 | 75 |
When bills, loan repayments, rent or other expenses are due | 9 | 12 | 9 | 17 | 3 | 0 |
Having to talk about money | 8 | 7 | 2 | 13 | 10 | 0 |
The state of our bank account/s | 5 | 3 | 0 | 0 | 0 | 0 |
Fear around not being able to pay for everyday expenses | 6 | 14 | 14 | 4 | 6 | 0 |
Not having enough money for ‘big ticket’ items such as holidays | 9 | 9 | 7 | 4 | 9 | 0 |
