As a result, recent surveys indicate more and more Americans are opting to remain in dissatisfied marriages. One big reason behind this trend is financial pressures. Yet a shocking 86% of couples fight about money, according to a Self Financial survey. Alarmingly, almost 2 in 5 owned up to these types of financial arguments being a dealbreaker in their relationships.
The Frich survey, which polled over 1,000 individuals about their personal relationships and finances, uncovered that one in four Americans feel trapped in a relationship they cannot afford to leave. Eighteen percent of Gen Z survey respondents said they remain in unsatisfying relationships due to financial worries. At the same time, nearly 40 percent reported they would cohabit with a partner before being ready just to save money on housing costs.
Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, emphasized the weight of financial dependency among couples.
“Whether it’s sharing the rent, utility bills, groceries or any other expenses, couples are increasingly having to lean on each other financially to manage the cost of living.” – Alex Beene
With breakups costing an average of $3,862, our data indicates that the average cost of a Gen Z breakup is total comes to $3,862. Today’s chart underscores the economic costs associated with divorce or separation. Interestingly enough, 24% of survey respondents are looking to break up with their current significant other. They’d be willing, but only if it doesn’t negatively impact their bottom line.
Yet the so-called “singles tax” has increased by an incredible 40% in just three years. That steep rise is pushing more people toward opting out of singlehood. For those contemplating the social costs of being single, a solo night out averages approximately $92, which can add up quickly.
On top of that, the emotional consequences of breakups drive many people to spend beyond their means on ways to cope. One in five Gen Z individuals who have experienced heartbreak confessed to spending nearly $2,000 on getaways to deal with their feelings.
Even more Americans think it’s worth delaying a separation due to money concerns. Counterintuitively, Beene cautions, this very strategy may make it more difficult for them to enact this big move later on.
“While that may seem like a smart move at the moment, the longer the separation can be kicked down the road, it can actually produce bigger, more complicated financial issues.” – Alex Beene
About 4 in 10 of those surveyed said money was a contributing factor in their breakups. Her findings capture a changing cultural landscape in which love and money are inextricably intertwined. This new intersection has forced many to rethink their priorities and confront the real cost of staying in their partnerships.
Leave a Reply