Canadians are rethinking relationships over money, research shows

Financial stress isn’t just about numbers; it takes an emotional toll. More than half of couples surveyed (52%) reported anxiety, poor sleep or depression after arguing about money. The most common triggers? Daily expenses (28%) and insufficient savings (24%).

To help navigate these difficult conversations, we spoke with Stacy Yanchuk Oleksy, CEO of Money Mentors, who shares practical strategies couples can use to talk openly about money and reduce conflict.

The hidden side of financial stress

It is not just arguments that reveal financial tensions. The survey found that 11% of respondents admitted to lying to their partner about personal finances to avoid conflict, and 13% have considered lying about it.

The rising cost of living creates additional pressure. In 2025, the consumer price index (CPI) increased by 2.1%. While that’s down from the 2.4% increase in 2024, Canadians have seen a nearly 20% increase in the cost of goods over the past five years.

This steady increase can eat away at savings and push couples to rely more on credit. As Yanchuk Oleksy notes, “Debt problems do not improve your mental health.” This added tension can test almost any relationship.

Related reading: Calls for credit counseling are increasing as Canadians grapple with rising costs

Build a solid financial foundation as a couple

Before discussing finances with your partner, Yanchuk Oleksy recommends: “Be clear about who you are with your money.” First, know your own money values ​​and habits. Once you understand your finances, you and your partner can decide together how to manage money in the future.

There’s no right or wrong way to handle money as a couple, as long as you communicate and come up with a system that works for the two of you. Some options include:

• Completely combine accounts
• Keep finances completely separate
• A hybrid approach

Approach the conversation with curiosity. Understand your partner’s financial mindset, triggers, and goals, just as you would expect him/her to understand yours. Being interested in what shapes your partner’s point of view can help you manage finances as a couple more successfully.

A note on credit scores: Even if you open joint accounts, you must keep in mind that the credit remains individual. Each partner’s credit score is affected by the way he handles money.

Navigating Tough Money Conversations

Disagreements about money happen in every relationship, whether you’ve been together for two months or ten years. When that time inevitably comes, Yanchuk Oleksy offers this advice:

1. To breathe. If you find yourself having a panic attack or feel your heart rate increase, pause and breathe. Taking a few deep breaths can help calm your fight-or-flight response.
2. Remember that you are on the same team. “When you realize that money is more than just dollars and cents, you can have more compassion for your partner.” Remind yourself that you are a team.
3. Call a nonprofit credit counseling agency if necessary. A neutral expert can help you create a manageable budget, find community resources, and provide support.
4. Have regular conversations about money in the future. Curiosity should not stop after the honeymoon phase. Don’t be afraid to ask for money casually. What are your partner’s money triggers? How were they raised to think about money? This can help prevent surprises later.

If your partner doesn’t want to attend a credit counseling, go alone. Advice is confidential, does not affect your credit score and you can share insights with your partner afterwards.

The bottom line

As Yanchuk Oleksy says, “Money is never just about money. It’s about how you think about it and your relationship with it.” Most couples struggle with finances at some point, but with compassion, open communication, and a plan, you can deal with money challenges together.

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