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Credit crunch acting as marriage counsellor
28 August 2008
The credit crunch might be having a negative effect on Britons' finances, but it is helping couples stay together, it has been revealed.
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According to online bank cahoot, 27 per cent of Britons are now less likely to break up than they were in more economically prosperous times.
This is due to the fact that they are concerned about the prospect of increased household bills, rent and living expenses should they split up.
Men are the most fearful about having to go it alone financially without the support of their partner, with 30 per cent admitting that the prospect of being single in the current credit crunch era fills them with dread.
By way of contrast, just 25 per cent of women say they are less likely to split with their partner now that inflation is playing havoc on the British economy.
As well as a gender difference, couples are also divided on the advisability of splitting during the credit crunch on age lines.
Younger Britons - those aged between 18 and 24 - are least likely to consider the financial implications of a breakup before giving a partner the boot, while those over the age of 65 are the most money-conscious.
However, with research suggesting that living on your own as opposed to living with a partner can cost an extra £266,000 over the course of a lifetime it seems like the latter group has the right idea.
"There are clearly economic benefits to being in a relationship, such as shared bills, lower rent and even reduced car insurance premiums," commented Matthew Timms, managing director for cahoot.
Despite this, he noted that it is still possible to make relationship decisions independent of monetary concerns.
"The cost of being single can extend to thousands each year, but with a little careful financial planning you needn't be tied to your partner purely for financial reasons," he said.
People are also less likely to buy a ho
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