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.