UK Wedding News
30/01/2014
New research has found that 40% of Britons exceeded their Christmas budget.
As a result, one in 10 people admitted that they resort to hiding the festive bills, receipts and expenditure from their other half.
The study, which was commissioned by family law specialists Slater & Gordon, looked at 2,000 married Brits and found that more than a quarter of those are worried that the true extent of their extravagance will cause tension with their partner, leading to further hardship for the family.
The findings revealed that the average married couple spent £560.47 on presents for Christmas, while 14% said that the month of January has been stressful as a result of their expenditure during December.
More than one in 40 who were polled admitted that they have had debt collectors arrive on their doorstep to collect a debt their other half had incurred that they were unaware of. Interestingly, a quarter of married couples do not have joint bank accounts or credit cards as they said they do not trust their partner to stick to a budget, and knowing how each other spent their money would cause arguments. However, one in 10 confessed to feeling guilty after they dipping into their joint accounts without telling their partner, while a similar number suspect their partner is spending more than they should be.
When it comes to tackling the issue of money, almost a third confront their partner, with a further one in 10 saying it always turns into an argument. For one in five, they said they would refuse to help their partner out if they got themselves in to debt, while 60% said they would expect their partner to help bail them out.
Amanda McAlister, a Principal Family Law Solicitor at Slater & Gordon Lawyers, said: "If a relationship is in trouble then money problems can tip it right over the edge. Most people have no idea about what they or their partner are liable for when it comes to dealing with debt.
"Often people think everything will be split 50/50 but this isn't always the case. If you have been spending money that hasn't been for the benefit of the household then your partner may not be liable for half of it.
"Likewise if your partner has racked up a huge amount of debt in their name rather than joint names, then you may be in a better position that you think."
(JP/CD)
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40% 'Hide True Cost Of Xmas From Their Partner'
New research has found that 40% of Britons exceeded their Christmas budget.
As a result, one in 10 people admitted that they resort to hiding the festive bills, receipts and expenditure from their other half.
The study, which was commissioned by family law specialists Slater & Gordon, looked at 2,000 married Brits and found that more than a quarter of those are worried that the true extent of their extravagance will cause tension with their partner, leading to further hardship for the family.
The findings revealed that the average married couple spent £560.47 on presents for Christmas, while 14% said that the month of January has been stressful as a result of their expenditure during December.
More than one in 40 who were polled admitted that they have had debt collectors arrive on their doorstep to collect a debt their other half had incurred that they were unaware of. Interestingly, a quarter of married couples do not have joint bank accounts or credit cards as they said they do not trust their partner to stick to a budget, and knowing how each other spent their money would cause arguments. However, one in 10 confessed to feeling guilty after they dipping into their joint accounts without telling their partner, while a similar number suspect their partner is spending more than they should be.
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When it comes to tackling the issue of money, almost a third confront their partner, with a further one in 10 saying it always turns into an argument. For one in five, they said they would refuse to help their partner out if they got themselves in to debt, while 60% said they would expect their partner to help bail them out.
Amanda McAlister, a Principal Family Law Solicitor at Slater & Gordon Lawyers, said: "If a relationship is in trouble then money problems can tip it right over the edge. Most people have no idea about what they or their partner are liable for when it comes to dealing with debt.
"Often people think everything will be split 50/50 but this isn't always the case. If you have been spending money that hasn't been for the benefit of the household then your partner may not be liable for half of it.
"Likewise if your partner has racked up a huge amount of debt in their name rather than joint names, then you may be in a better position that you think."
(JP/CD)
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