Recession hits romance
PUBLISHED: 09:58 13 February 2009 | UPDATED: 23:00 15 June 2010
New research released from grant-giving charity Elizabeth Finn Care reveals the real effect that the recession will be having on romance this year with millions cutting back on spending this Valentine's Day.
New research released from grant-giving charity Elizabeth Finn Care reveals the real effect that the recession will be having on romance this year with millions cutting back on spending this Valentine's Day. In the South West, 66 percent of people surveyed admitted that they would not be celebrating Valentine's Day at all this year. Of this number, 63 percent are in a relationship.Of those people from the South West who say they will be celebrating Valentine's Day, 37 percent say they will be spending less money than last year due to money worries. 46 percent have decided to forgo a gift this year, whilst 67 percent admitted they wouldn't be treating their partner to the traditional romantic meal for two at a restaurant - although they might have considered doing so last year.But what's the fall out of saving cash on Valentine's Day? Over nine million couples, - say that money worries have put a strain on their relationship in the past 12 months, further proving that, during times of economic difficulty, relationships are more likely to suffer. Debt is one of the biggest causes of family breakdown and, with personal debt at an all time high, coupled with rising unemployment, the pressure on families is increasing. But separation and divorce comes with its own money concerns. Rebecca Ward for Elizabeth Finn Care said: "The breakdown of a relationship can cause huge pressure financially and can be the reason why many people fall into irreparable debt. 31 percent of Elizabeth Finn Care beneficiaries came to us as a result of a divorce or separation from their partner. Furthermore, 28 percent of these were women. In the current economic climate we fear that the number of people who fall into debt because of relationship breakdown will increase even more.
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