7 in 10 Singaporeans financially struggle with partners: survey

Couples identified unexpected expenses as a leading cause of stress.

Seven in ten Singaporeans face financial challenges with their partners—the highest proportion amongst Asia Pacific, according to a survey by Revolut.

The survey, which polled over 1,000 Singaporeans, identified financial instability and unexpected expenses as the leading causes of stress, affecting 34% of couples. Budget disagreements followed closely at 30%.

Other challenges faced by Singaporean couples include disagreements over long-term financial planning or major purchases (24%), unequal contributions to shared expenses (23%), and difficulties tracking shared expenses and payments (23%).

About 21% of respondents reported having incompatible financial management styles, whilst 20% cited a lack of transparency or communication about finances. Managing joint accounts or shared financial responsibilities was another challenge for 18% of couples, and one in five said they felt uncomfortable discussing money matters openly.

The survey revealed a strong demand amongst Singaporeans for tools to simplify shared financial management. Half of the respondents deemed automated bill reminders essential, whilst 40% expressed interest in advanced analytics for tracking spending patterns.

Additionally, 38% valued bill-splitting features with reminders, and 35% sought customisable permissions and spending limits in shared accounts. Other helpful features identified included group expense tracking (31%) and settlement options for expense sharing with friends or housemates (24%). 

These findings underscore the need for innovative solutions to streamline financial management for couples, the survey said.