High spending ‘could be the start of money problems’

The high level of spending on partners could be the start of ongoing money problems and lead to greater calls for debt advice, it has been suggested, after a survey from Abbey Current Accounts showed that the average Brit spends £1,569 per year on their partner.

However the survey also revealed that despite high levels of spending, many partners do not feel they are being treated enough.

Responding to the survey, 18 per cent (5.9 million people) said that they thought partners did not spend enough on them and over three-quarters of a million people said that it had contributed to the break-up of their relationship.

The research’s findings would suggest that often people feel pressured to spend on loved ones which could lead to problems with debt management.

Steve Shore, head of banking at Abbey, said: “Love doesn’t come cheap.

“It costs over £1,500 a year to be in a relationship and love keeps on getting more expensive as you get older.”

Price comparison website MoneyExpert earlier this year placed the annual amount spent on loved ones in the UK at £744.