Brits want partners to show them the money

Love certainly does not come cheap nowadays, as new research from Abbey Current Accounts finds that 5.9 million people (18 per cent) say their partners do not spend enough money on them. Over three quarters of a million people (792,000) have actually split up with someone because of it.

Currently the average Brit spends £1,569 per year on their partner, but according to Abbey’s research, it is still not enough. Of the 792,000 who have split with their partner for not spending enough on them, over 40 percent are aged 18-24. In fact, people this age are five times more likely to leave their partner for not spending enough on them than any other age group.

But what is this money spent on?

Birthday and Christmas are the obvious ones – the average spent on birthday presents for a partner is £95, Christmas costs around £133 and £97 is spent on other gifts throughout the year. But it’s also the everyday activities that start to add up: a staggering £1,040 a year is spent on eating and drinking (both eating out and at home) and £224 a year is spent on dates (theatre, cinema, day trips etc).

Spending on partners peaks at the age of 60 (£1,858) and regionally Northerners spend the least on their partners – £1,285 each year – while those in the South East spend the most (£2,031). Men spend on average £1,830 on their partners each year, and women spend £1,307.

Steve Shore, Head of Banking at Abbey, said: “Love doesn’t come cheap. It costs over £1,500 a year to be in a relationship and love keeps on getting more expensive as you get older. Luckily, Abbey can help with its new current account. The 8% interest rate can earn account holders up to £200 over a year – something towards a gift to impress a loved one.”

Abbey’s new current account is available to switchers. It pays 8% interest on balances of up to £2,500 for one year and then 2.5% thereafter. Customers can earn up to £200 interest in the first year. For more information, log on to abbey.com.