Credit crunch may be holding couples together

Couples who may otherwise be considering splitting are staying together to share the financial burden, according to cahoot.

Research from the online bank found more than a quarter of British people (27 per cent) are less likely to leave their partner because of the economic climate.

This equates to 12.4 million people who are scared of the financial problems and potential debt management issues that may arise from the single life – which may, according to the company, costs £266,000 more over a lifetime.

Matthew Timms, managing director, said couples can benefit from shared rent and bills and possibly cheaper car insurance.

“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 added, however.

Also in the news this week, the Chelsea Building Society said family members are currently lacking the funds they would normally use to help each other.

By Morwenna Kearns