Breakups by the Numbers What You Need to Know
Breakups by the numbers is a serious thing. The financial aftermath of a breakup is real. No one is thinking about a breakup when they are “crazy in love”. But the truth is breakups are more common than you think. They are inevitable and they wake they leave in their path is devastating. We’ve all be there at some point in our life. That breakup that nearly annihilated us. You know that one. Yes, that one. Some people never get over the heartbreak. Others it takes years to come to terms with it. Keep reading if you want to know the numbers and what you need to do.
The Financial Aftermath of a Breakup
Breakups are not cheap. Granted, everyone’s situation and circ*mstances are different. In the end someone gets left holding the proverbial financial bag. Which is not fair. Going back to being single does not come with out costs especially if you were living with your partner. Either way you go from sharing expenses to carrying your expenses on your own. You’re back to a single income. Resizing your life to fit your finances after a breakup is not easy. This is why having multiple sources or streams of income are so important, before a relationship or after it has ended. You just can’t leave your finances to chance. Here is what you need to know about breakups by the numbers. And it’s to pretty or cute. It’s real serious!
Breakups by the Numbers Fact # 1
"Approximately 85% of dating relationships are unsuccessful and end in breakup."
Breakups happen. According to Bestselling Author and Unorthodox Matchmaker Hellen Chen approximately 85% of dating relationships are unsuccessful and end in breakup. She says that there are only 2 endings to a relationship: marriage or breakups. So if you think about it, the odds are stacked against us from the get-go. At the time I didn’t know that I needed to have a breakup backup plan or that I needed to bank from my breakup. It wasn’t until after my relationship ended unexpectedly that I realized how important it was to have a Breakup Backup Plan aka my Breakup Plan B. That’s why Banking from Breakup makes so much sense to me and why I created it. I wish I had thought of it sooner. It is a very unorthodox way to handle a breakup, move on and get over your ex.
Breakups by the Numbers Fact # 2
“Most people will date on average 12 people before getting married”.
Breakups are part of the relationship-dating landscape. A study done by eHarmony, the popular dating site, says “most people will date on average 12 people before getting married”. Now, if 85% of relationships end in breakup, this means that ten of those twelve will either be epic fails or will break your heart. Bottom-line breakups are inevitable. That being said, there is no avoiding breakups and they will still suck and devastate us emotionally and financially. So as my gran would have said, “better to take front, before front takes behind”. In other words, better to be prepared than to be blindsided.
Breakups by the Numbers Fact # 3
"1 in 4 people have financial problems after a relationship breakup."
The financial implications are real and serious. According to Noddle, 1 in 4 people have financial problems after a relationship breakup. Wow. They found that half a million people a year in the UK have had financial problems after splitting up with someone. Add to the mix that 48% women vs 29% men are more likely to be owed money; 38% women vs 27% men are left to pay the rent or mortgage; 27% women vs 19% men are chased by debt collectors. This is insane, but very real and unfortunately true. Breakups not only break you emotionally, they can breakup you financially. No one should ever have to be in this situation. There is something not right about this. Creating Banking from Breakup is my small way of helping out.
Breakups by the Numbers Fact # 4
"One in five people (or 20%) have stayed with a partner for financial reasons."
Some people can’t afford to leave a relationship. One in five people (or 20%) have stayed with a partner for financial reasons according to the Debt Advisory Centre. This is sad. No one, woman or man should have to remain in a relationship because of money. Money should never be a reason you can’t leave. It should never be the thing that keeps you in a relationship you don’t want to be in or have no business being in. This was a big motivation for me starting Banking from Breakup.
Breakups by the Numbers Fact # 5
"20% of women have stayed with a partner due to financial worries, compared to just 3% of men.
Financial worry and concern make people say in bad relationships. 20% of women have stayed with a partner due to financial worries, compared to just 3% of men according to investment company Nutmeg. The numbers don’t lie, women are 7x more likely to stay in relationships because they can’t afford to leave compared to men. They will tough it out. It shouldn’t be that way but unfortunately it is. That is why every woman (men included) need to have a “Freedom Fund” or as I like to say an “F-You Fund”. Banking from Breakup was my freedom fund. Once I got over being blindsided by my breakup, I got to work. Honestly, the best decision I’ve made hands down.
Everyone Needs to have a Breakup Backup Plan
Or a Breakup Plan B. Aka a Banking from Breakup Game Plan. I can’t stress this enough. Breakups suck. But the financial aftermath can be way worst and life-altering for many. Especially if you are not prepared or if you don’t have a plan. So you can’t bank from your breakup if you don’t have a plan. Here is the thing, Banking from breakup is not for everyone. But if you are looking to bounce back from your breakup, power up your life, get over your ex, move on from your breakup and become a stronger more confident version of yourself, then a banking from breakup game plan is in tall order! Because a breakup shouldn't break your finances. My personal philosophy is that it should build your bank account, not break it.
Protect yourself and your finances
No one wants to find themselves having to rely on another person financially, or otherwise. So the cautionary tale is to protect yourself and your finances so you will never have to. My solution was to bank from my breakup. Period! I told myself I would never be financially vulnerable again. Being single again and having one income put things into perspective real quick for me. The key is to build a solid financial base. There is nothing more satisfying than your own financial freedom and independence. Create a side hustle. Do whatever it takes to get your money game on track. You want to have multiple streams of income regardless of your relationship status. Because the last thing you want is to have to stay in a relationship because you can’t afford to leave. There is nothing worst than not having your freedom.
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