Perception that marriage makes you worse off

A recent survey of Australian women may indicate a larger trend of thought: that marriage leaves you financially worse-off than staying single or being in less committed relationships.

A survey of 550 women by the Heat Group revealed that 39% of those questioned believed that staying single left you with more money than getting married.

This is put down to the likelihood that married couples put more money towards the future, accommodation, and children.

Queensland University of Technology Family Therapy and Counselling Clinic director David Axten said the results were “not a shock” because of the negative perceptions surrounding the responsibilities of marriage.

Mr Axten said this phenomenon stemmed from women in their 20s, armed with their disposable incomes and subsequent enjoyable lifestyles.

“Young people for a while indulge in self-centred spending - dressing and paraphernalia that goes with being cool - and not having to worry about anyone except themselves,” Mr Axten said.

“There is this feeling they have a lot of financial freedom - whether it’s a reality or not.

“Its not the reality of the financial status - it’s the mindset and mind shift towards responsibility that makes the difference.”

In real terms, couples often find they are better off than singles, because they generally have two incomes and can share the cost of rent or mortage, food, bills and other living expenses.

Everyone, regardless of any relationship they are in, needs to strike a balance between living for the moment, and saving for the future.

Read the full article: Married women ‘financially worse off’