Money News
Spending and borrowing are causing 26% of couples to argue and 5% to break up, according to the latest Personal Credit Index survey from CreditExpert, the online credit report monitoring service from Experian.
The Index, which tracks consumers' current credit confidence and future expectations on a quarterly basis, also reveals that 9% lie to their partners about their finances and even hide bank/credit card statements from them. 18-34 year olds are the most likely to argue with their partners about spending.
Meanwhile, a third of couples with children argue about finances and 7% break up over arguments about finances with the result that approximately 2 million children are being affected by their parents' or guardians' financial problems.
While financial affairs are splitting relationships, the survey also reveals a difference in overall financial confidence between Scotland and the North and London and the South. This quarter shows the biggest discrepancy in credit confidence between the two regions to date. Last quarter, confidence in Wales and the Midlands had dropped to a low of 92 while Scotland and the North fell to 96; London and the South, however, were riding high at 101 and 97 respectively.
Now, while the Midlands and North are feeling much more confident, with regional Indexes of 104 and 101 respectively, London and the South's financial poise is decreasing with Index scores of 92 and 90 respectively. This could largely be because of high housing prices in the South and recent concerns over rising interest rates, fuel prices and council tax.
The rise in the overall Index indicates that the nation remains confident that it can pay its bills, with 86% of Britons being either 'confident' or 'very confident' they can pay household bills, or credit-store card bills on time. This is a three point rise on the previous quarter.
05 February 2007 © Moneyextra.com
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