It’s easier to get over cheating than money problems: poll

VANCOUVER (NEWS1130) – A new survey suggests Canadian couples may be more willing to forgive a cheating spouse than to overlook money problems.

According to the BMO poll, 68 per cent of those surveyed say fighting over money would be their top reason for divorce, followed by infidelity (60 per cent) and disagreements about family (36 per cent).

The survey, released ahead of Valentine’s Day, also found discrepancies not only over who is in charge of finances for a household, but also who is to blame when budgets go awry.

Forty-one per cent of men say they handle the finances in their relationship; while only 15 per cent say it’s their partner who is in charge of their money.

That’s compared with 32 per cent of women who considered themselves the one calling the financial shots in their relationship; 19 per cent said that was their partner’s job.

Chris Buttigieg, BMO’s senior manager of wealth planning strategy, says the survey showed a “clear disconnect” between how couples view their spending and savings habits, and how they view their partner’s role.

“It’s critical to communicate, be open to compromise and be prepared to talk frankly about financial issues, including your plans for retirement and how they’ll be funded,” added Buttigieg.

The poll also found 37 per cent of men surveyed said their partner spends too much money and should be saving more. Twenty-three per cent blame themselves for not being thrifty in their spending habits.

Meanwhile, 36 per cent of women who were surveyed said it was their male partners who overspend; a quarter admitted it was themselves who needed to rein in their money habits.