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Not all couples agree on finances, BMO Valentine’s survey finds

By Tara Clow Feb 12, 2024 | 1:27 PM

Does spending cause conflict in your relationship?

A BMO Valentine’s Day survey found that Canadian couples are compatible with financial planning, but with spending, it’s a different story.

Thirty-five per cent of Canadians surveyed believe their significant other spends too much money and 32 per cent say spending is often a source of conflict in the relationship.

Thirty-six per cent admitted they’re not always truthful about their finances to their partners.

Over half believed finances should be discussed during the early stages of a relationship, 10 per cent felt these conversations should happen after the first few dates.

Forty-one per cent believe these conversations should take place when the relationship becomes official.

Nearly a third say conversations about finances should take place when a couple is planning on living together.

Twelve per cent of couples believed these conversations should begin when getting engaged and/or married.

Nearly half of Canadians also admitted to spending more money than they knew they should

When finding out more about a partner’s finances, Canadians indicated they would be most concerned with mortgage debt, followed by credit card debt, a credit score, and differences in income.

Ipsos surveyed from January 2 to 19, asking 25,00 adults over the age of 18.