It's not love, it's rent! American couples are staying together because of the economy
A new national survey from Self Financial found that nearly one in four Americans — 24% of over 1,000 respondents — say they're stuck in relationships they can't afford to leave. Between soaring housing prices, inflation, and the everyday cost of living, breaking up just isn't financially feasible for a growing number of people.
'While no one likes the idea of having to stay with a partner for financial reasons, for some this may be the only way to financially keep their head above water,' said Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, in an interview with Newsweek.
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He explained that couples are relying more on each other to cover essential expenses like rent, groceries, and utility bills, turning what used to be personal partnerships into financial alliances.
The financial strain is particularly severe in major cities like New York. According to the data analyzed earlier this year by Frich, a finance app for Gen Z, couples in Manhattan can save over $50,000 annually by living together, rather than splitting up and paying solo rent. That extra financial burden, commonly called the 'singles tax,' has surged 40% in the past three years, per Frich's findings.
And for Gen Z, the cost of uncoupling is even steeper. Frich's survey revealed that the average breakup costs $3,862, factoring in spending on new housing, shopping sprees, emotional 'retail therapy,' and rebound vacations. One in five Gen Z respondents admitted to spending up to $2,000 on post-breakup trips alone. A single girl's night out? That'll cost you roughly $92, according to Frich.
Nearly 40% of Gen Z respondents also said they'd move in with a partner before they were emotionally ready, simply to save money on rent. And 18% said they've stayed in relationships they weren't happy in for financial reasons.
Money is not just keeping couples together — it's also tearing them apart. The Self Financial survey showed that 86% of respondents had argued with a partner about money, and 41% said finances contributed to their breakup.
'While staying together might seem practical in the short term, the longer the delay, the more complicated things can get financially,' Beene warned. 'The economic outlook of both individuals gets more intertwined,' Alex quoted.
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