Men are more than twice as romantic as women, at least financially, according to new data by St George Bank, which tracks anticipated spending for Valentine’s Day this year.
The lender canvassed its customers and found that chivalry was alive and kicking, with males in relationships planning to spend more than $51 on romantic gifts and experiences for their partner this year, while females were aiming to fork out $25 or less in return.
“Saint Valentine would be proud of Aussie blokes this Valentine’s Day,” Ross Miller, general manager of St George retail banking, said. “Men are proving to be true romantics.”
The research also looked at how in tune couples were with their finances and found that 47 per cent of Aussies living with a partner completely combine their finances, while 20 per cent are “mainly combined”.
One third of these began combining finances as soon as they moved in together, while 40 per cent waited until after they were married. Two in five banked with the same lender as their partner.
“Starting love can lead you to an exciting new journey, such as buying a home or starting a family,” Mr Miller said. “Love is a real catalyst for financial decisions and I encourage couples to have regular chats about money to help create a strong foundation to start a family or build their financial future.”
A potentially worrying statistic to also emerge was that 42 per cent of women living with their partner have no access to private funds with their finances completely combined.
“This number increases with the number of children they have,” Mr Miller said.
Of these women, 93 per cent would experience financial strain on their families if they were to separate from their partner.
“Having a joint account doesn’t mean you have to give up your financial independence,” Mr Miller said.
One couple found love after bumping into each other at an ATM. Adie and Maysem had gone to school together, but had not connected until locking eyes at the St George ATM at Wynyard Station, not exactly a place synonymous with romance. Four years later they tied the knot.
Adie even plugged the bank in his wedding speech saying “you never know who you may meet at one of the ATMs”.