Westpac Study: Half Of Aussies Say They’d Rather Talk About Their Sex Life Than How Much Debt They Have
Westpac is encouraging Aussies to talk about their financial goals this Valentine’s Day as research from the bank reveals chocolate and teddy bears are out and open money discussions are in for those wanting to maintain a healthy relationship.
According to the research, money-related issues cause arguments for 91 per cent of couples, with frivolous purchases (62 per cent) the top catalyst for a disagreement, followed by financial challenges or concerns (56 per cent). These outrank spats about social media or phone usage (55 per cent), political views (51 per cent) and even past relationships (38 per cent).
While two-thirds (65 per cent) of Aussies agree that couples who regularly talk about money are more likely to be in a healthy relationship, more than one in five (22 per cent) admit they rarely discuss finances with their partner.
Westpac’s Annabel Fribence is encouraging couples to have a healthy conversation about money with their partner this Valentine’s Day. “Respectful, honest and open conversations are really important in relationships however it appears Aussies still have room to grow when it comes to building confidence around holding discussions about money,” Fribence said.
“In healthy relationships, it’s important both parties know how much money they have and where it is going with an equal contribution to money decisions. This may help alleviate concerns, manage expectations with one another and better set yourselves up for success in achieving your individual and joint aspirations”.
“After debating the latest Married at First Sight episode this Valentine’s Day, we encourage couples to also have an open conversation and agree on your budgets and financial goals”.
MONEY CONSIDERED TOP SOCIAL TABOO
The research also found Aussies are more open to discussing private details about their relationship and bedroom behaviours in social settings than they are about their finances, with 89 per cent agreeing they find the subject of money awkward.
When asked what topics they avoid discussing with friends and family, half (50 per cent) said they’d rather talk about sex than how much debt they have, 45 per cent would rather reveal their intimate partner tally to a significant other than ask a friend to pick up their share of the bill, and two in five (42 per cent) would rather confront a friend about an argument than reveal their salary.
With the highly anticipated 11th season of ‘Married at First Sight’ (MAFS) hitting screens, Westpac has teamed up with certified Clinical Sexologist Alessandra Rampolla and season 10 golden couple Duncan and Evelyn to share their views on how they approach money and relationships.
“Being on the same page when it comes to our finances has become increasingly important, particularly after moving in together last year,” said MAFS’ Duncan James and Evelyn Ellis.
“While talking about money isn’t the most romantic topic of conversation, as our relationship has grown, so too have our discussions around our spending habits and financial goals”.
“Understanding each other’s attitudes towards money when we first started dating has set us up for more open conversations around our finances in the long-term,” the couple said.
Westpac has a range of tools available to help couples navigate financial conversations, including a shared finance quiz designed to help couples look at how they can work together to achieve their financial goals.
Customers can also access a range of helpful money management features in the Westpac app. This includes an expense splitter for managing shared purchases, tailored insights to better understand your monthly spending habits, and the ability to set up and track joint savings goals.
In some relationships, talking about money can be unsafe. Customers can access resources via Westpac’s Love and Money pages or 1800 Respect for tools and tips to help you be prepared on how to have safe, respectful and secure conversations. If you are in immediate danger, call 000. To speak with a specialist team at Westpac who can help you manage your finances during difficult circumstances call Priority Assist on 1800 063 509.
Latest News
TV Ratings 29/4/24: Farmer Wants A Wife And Lego Masters Lock Horns In Overnight’s Battle
Who won the battle of the big guns - Lego or Farmer Wants A Wife? One thing's for sure, it wasn't Great Train Journeys.
Nielsen Data Reveals Brands Spending Big To Attract Aussie Tourists
Nielsen Ad Intel data has revealed that the travel and tourism industry spent more than $153 million on advertising in Australia in Q1, 2024 – an increase of 8 per cent from the previous quarter, with TripADeal the biggest spender, followed by Virgin Australia, then the Flight Centre-owned Ignite Travel. As many Australians return from […]
IAS Awarded New Responsible AI Certification From Trustarc
Integral Ad Science tossing up over the mahogany or teak frame after being awarded TRUSTe Responsible AI Certification.
AWARD Calls For Hall Of Fame Nominations
B&T's noms for AWARD Hall of Famer includes Louis The Fly, Chums' talking Scottie dog & Mumbrella's coke dealer.
Havas Red Wins PagerDuty PR Account
Havas Red wins PagerDuty's PR. And judging by B&T having to Google PagerDuty, it could probably do with some help.
ACA Poised To Release Results Of 2023 Create Space Census
The Advertising Council unveils date for its census results. Hey, why not coincide it with an office lamington drive?
Why Fear Is Essential To Fernando Machado’s Creativity
If there's anyone B&T loves to chat to, it's fabled marketer Fernando Machado. Although the 5am time difference sucks.
Superdry Drafts AFL’s Patrick Lipinski For New Campaign
B&T fast regretting that poncho we just bought, as it appears the puffer jacket returns as winter's hottest trend.
Elon Musk vs eSafety: Legal Experts Warn That ‘Rogue Operators’ Like X Are Unlikely To Win Federal Court Battle
If this legal stoush boils down to who can afford the better lawyers, B&T's backing Mr Musk every single time.
Amy Poehler Presents First Look At Inside Out 2 At Vivid Sydney 2024
Vivid isn't about freezing your arse off while looking at lights on a wall, as you'll learn with this Amy Poehler news.
Mutinex Launches DataOS Improving Data Warehousing & Quality For MMM Marketers
Work in marketing? Does your data warehousing resemble a teenager's bedroom? Here's a Marie Kondo-approved read.
IMAA Celebrates Three Years Of Group Trade Credit Insurance Deal
Are you a struggling indie? Thinking of firebombing the building for the insurance money? IMAA has you covered here.
Adam Sandler Seemingly ‘Slams’ Ukraine In Pro-Kremlin Campaign
Host of A-list celebs caught slamming Ukraine's president. Thankfully it does have the Milli Vanillis about it.
New Marketing & Comms Agency For Defence & Aerospace Industry Takes Flight
As painful as this is to say, judging by current world events, the bomb & tank industries must be in rude health.
Opinion: Do Punters Want To Wear Your Brand?
This columnist asks do punters want to wear your brand? B&T'd say yes if you were Nike, no if you were Anusol.
WiredCo Builds Portfolio With Appointment To G.J. Gardner Creative Account
WiredCo 'cements' its relationship with home builder G.J. Gardner. Did you see what B&T cheekily did there?
Keep Left Reveals ‘Strategically Assembled’ Strategy Team
PR agency announces serious upgrade to its strategy offerings. Thankfully stops short of calling them Delta Force.
Initiative’s Michael Chong: What Do Mountaineering, Media & Marketing Have In Common?
Yes, B&T's running an inspiring mountaineering story. And this from people who won't come to work if the lift's broken.
CMOs To Watch: DrinkWise’s Part Time Builder, Part Time Marketer, Nathan Kent
Despite his love of DIY, B&T can't see Drinkwise's Nathan Kent in any "you can get it" VB ads anytime soon.
Mari Kauppinen Pops Up As MD Of ITA Group ANZ
Mari Kauppinen set to bring some zing, some song and some va-va-voom to her new role at ITA Group.
“It Is Getting Better But At A Glacial Speed”: PR Guns On Shaping A More Diverse Media Industry
B&T has a love-hate relationship with PRs. Love if they take us for a boozy lunch. Hate when you send releases as PDFs.
GoTransit Media Group Unveils The Power Of Regional Transit Advertising
Need reminding lots of people live outside the Surry Hills enclave? It's the regionals &, yes, they have almond milk.
Slew Of Promotions For Special Senior Creative Leadership Team
Special announces a slew of promotions in its creative team. And, no, they didn't order Uber Eats to celebrate.
Kantar: AVOD Subscribers Double In 12 Months
Study finds Aussies happy to watch ads on their streaming services. Or, are they just putting the kettle on more often?
Val Morgan Digital Exceeds All Campaign Uplift Benchmarks Via A 12-Month Brand Metrics Study
Val Morgan announces it has exceeded all its campaign benchmarks. Still can't get under an hour for the City To Surf.
Australian Retirement Trust launches monster of a campaign, by M&C Saatchi and Bohemia
Get offered a seat on the bus today? Knees creak like an old pirate's galleon? This retirement ad may be of interest.
Print Audits To Discontinue As Audited Media Association Of Australia Pivots To Support Influencer Marketing
Is it just B&T or are audits in the media industry suddenly becoming murkier than Roxy's husband's tax returns?
News Corp Australia Launches 2024 National Education Advocacy Initiative With Expanded Program
News Corp set to shine a light on the nation's schools in new series, giving illegal bikie gangs a well-earned rest.
Decoding The Consumer Maze: Urban List Report Reveals How Modern Shoppers Spiral From Discovery To Purchase
Latest report unravels a shopper's journey from the joy of discovery through to a nasty letter from a debt collector.
Cosmo Returns To Australia!
Ever get the feeling we've weirdly warped back to 1988 at the moment? Confirm it with the relaunch of Cosmo in print.
People & Culture Consultancy Human Kind Collective Launches To Plug HR Gap For Media Agencies
Does the very mention of HR have you struggling to remember last year's Christmas party? Get the sweats with this news.
‘We Want To Be A Growth Partner, Not Just A Media Buyer Or Someone That Makes Ads’ – Bohemia Boss On Agency’s Ambition
B&T's chatting with Bohemia boss Paul ‘Hutch’ Hutchison. Although we do think 'the dagger' a far superior nickname.
Initiative’s Geoff Clarke: ‘Youth Hits Targets With Enthusiasm, Experience Hits The Targets You Can’t See’
Initiative’s CCO Geoff Clarke on the value of experience in agencies. Not to mention quoting lines from Pulp Fiction.
The Iconic Teams Up With 5 Aussie Athletes For Latest Campaign
Fashion label brings in the athletes for new campaign, many of whom appear to have prepped with re-runs of Zoolander.
Seven West Media Secures New Director Of News & Current Affairs
After a tumultuous few weeks, Seven unveils director of news & current affairs. And B&T never uses tumultuous lightly.
Seven Network Expands NSW Sales Team With Two New Group Business Directors
Seven ramps up its NSW sales team. Both of whom are well versed in pronouncing Manu Feildel's croque-monsieur.