Ongoing financial crisis is causing a third of Canadian couples to argue more about finances



    PayPal survey also uncovers love beats the Stanley Cup...but just barely

    TORONTO, Jan. 27 /CNW/ - Canadian couples are passionate about their
finances, according to a new PayPal survey, which reveals that the current
global economic crisis is causing couples to fight more than ever before. The
majority (58%) of Canadian couples admit to arguing about money at least once
a year and more than 30 per cent indicate that the ongoing crisis is causing
them to have even more disagreements about their finances.
    Just in time for Valentine's Day, The PayPal "Can't Buy Me Love" survey
examines individuals' relationship with their partner and the ongoing battle
between romance and money to highlight some interesting priorities and
dynamics between couples. Conducted by Ipsos, the research takes a look at
topics around love and money in Australia, Canada, Italy, Mexico, the
Netherlands, United Kingdom, and United States.
    "The survey reveals some important realities about the increasing role
that money plays in our romantic relationships," explains personal finance
expert, Kelley Keehn. "With Valentine's Day just around the corner, it's
important to remember that love is not only defined by romantic gestures. As
one's relationship with their partner matures, money and finances become an
increasingly common cause of argument and also the key to maintaining a
healthy and happy relationship."

    Love or money?

    Only 15 per cent of Canadian couples have never had a fight. So what is
the majority of the country's couples arguing about? More than four-in-ten
Canadian couples - and over 50 per cent of couples who admit to fighting -
have either fought about money and finances or the division of household
duties and chores. More than one-in-ten Canadians has ended a relationship
because of money or financial issues.
    The PayPal survey also reveals that love does not conquer all. For
couples whose relationship with money affects those close to them, almost
one-third indicate that their relationship with money negatively affects those
close to them and this includes being dishonest with their partner. One-in-10
Canadians also hide purchases from their partner, with almost twice as many
women (16% versus 9%) as men admitting to deceit. What are they hiding? Women
admit to keeping clothing (41%), shoes (14%), and jewellery (13%) purchases
from their partner while men admit to hiding electronics and gadgets (39%),
sporting or concert tickets (10%), and clothing (7%) from their significant
other.

    Love or Lord Stanley?

    Love also influences how Canadians spend their money and time. When it
comes to Valentine's Day or the Stanley Cup Finals, the PayPal survey shows
that the majority of single Canadians (51%) would prefer an evening with Lord
Stanley while 62 per cent of couples favour Valentine's Day over a hockey
game. That doesn't mean that all couples are in agreement; the survey reveals
that while more men prefer the Stanley Cup Final (49% versus 35%), the
majority of women prefer Valentine's Day (65% versus 51%). It comes as no
surprise, then, that twice as many men (8%) as women (3%) would rather spend a
night with Lord Stanley's Cup than with their partner. Lord Stanley: 1, Love:
0.
    PayPal's "Can't Buy Me Love" survey also reveals some other interesting
findings about Canadian couples' relationship with money:

    
    -   Men and women can't agree on how they support the household. More
        women than men say that they are equal partners in supporting the
        household - indicating some men discount the contribution of their
        partners or some women are overstating their own contributions.
    -   The most commonly selected reason for the first fight in a
        relationship is family and in-laws - it's clear that nobody's mother-
        in-law approves! Even worse, family and in-laws prompt arguments.
    -   Canadian couples are sneaky about their shopping. Twelve per cent of
        couples admit to purchasing things online or at work to hide the
        purchases from their partner.

    The survey also reveals some interesting similarities and differences
between couples in other regions and countries:

    -   Couples living in Atlantic Canada are more likely to cite jealousy as
        a cause of their first argument compared with couples in the rest of
        the country.
    -   Couples in the west are reacting differently than those in the east
        to the current economic crisis. Three-times as many couples residing
        in the Prairie provinces indicate that they are talking more openly
        about their finances as a result of the situation than those in
        Atlantic Canada.
    -   Residents of Quebec are more likely to list themselves as the primary
        wage earner than those in the rest of the country. They are also more
        likely to shop online at work so that their partner doesn't know
        about their purchases.
    -   Where does Lord Stanley's Cup belong? Those living in Quebec are
        twice as likely (9%) to prefer spending a night with the Cup rather
        than their partner than those living in Ontario (4%).
    -   Canadian couples bring significantly less debt into relationships
        (40%), compared with American couples who typically bring the largest
        levels of debt into relationships (51%). Couples in Italy and the
        Netherlands say they have no debt.
    -   While 22 per cent of Canadian couples admit to arguing mostly about
        money, they are still less likely to argue about money than couples
        in most other countries. Finances are least troublesome among couples
        in the Netherlands and the UK, where less than 20 per cent of couples
        argue about money, and most troublesome in Australia, Mexico and the
        US where over 30 per cent of couples have money issues.
    

    With more men than women (71% versus 48%) typically giving a gift on
Valentine's Day, what are Canadian couples going to receive on Valentine's
Day? Most Canadians can expect traditional, romantic gifts - like Valentine's
Day cards, dinner and flowers - which top the list of the most popular
Valentine's Day gifts given by responding couples. Starting today, special
offers on Valentine's Day gifts from LUSH Cosmetics and Lasenza.com will be
available at https://www.paypal.ca/valentines.

    Methodology

    The PayPal "Can't Buy Me Love" Survey was conducted by Ipsos from
December 9th, 2008 to December 19, 2008 via email invitation to online
panelists. The total sample size was 7,000 adults, evenly divided between
Australia, Canada, Mexico, Italy, the Netherlands, the United Kingdom and the
United States.

    About PayPal

    PayPal is the faster, safer way to pay and get paid online. The service
allows members to send money without sharing financial information, with the
flexibility to pay using their account balances, bank accounts, credit cards
or promotional financing. With more than 70 million active accounts in 190
markets and 19 currencies around the world, PayPal enables global ecommerce.
PayPal is an eBay company. More information about the company can be found at
https://www.paypal.ca.





For further information:

For further information: Media Contacts: Nicole Tuschak, Environics, for
PayPal, ntuschak@environicspr.com, (416) 969-2712

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