Romance may be in focus but finances make or break relationships

Romance may be in focus but finances make or break relationships

Romance may be in focus but finances make or break relationships

It’s the most romantic day of the year but one thing that won’t be masked by flowers or a meal at a favourite restaurant, is the state of a potential partner’s finances.

A new survey from Canada’s largest lender shows that 85% of those in a relationship say that sharing financial values is crucial for a healthy, long-term relationship.

And for those that may be asked to be someone’s Valentine today, 80% said discussing finances is important before the relationship gets serious with 90% saying a couple should have similar spending and saving opinions, and 62% saying the state of a partner’s finances could be a deal breaker.

"When you're committing to a relationship, you're inviting that special someone into your life, along with their finances," says Sandra Abdool, Regional Financial Planning Consultant, RBC Financial Planning. "That's a lot of sharing, and as a couple, it's important to set clear financial boundaries to make sure you're on the same page when it comes to spending, saving and managing your money."

National and Regional Findings: RBC 2020 Relationships & Money Insights Poll