Dating and debt: Love in a cost of living crisis

Couple discussing debt and finances on a coffee date

Despite what Hollywood might want us to think, money plays a leading role in the pursuit of love. While society has shifted from doweries and breadwinners to splitting the bill on a first date, 98% of Canadians still believe that financial stability is necessary for a happy and successful relationship. With the average Canadian owing more than $21,000 of non-mortgage debt, does love truly not cost a thing? To explore this topic, we asked Canadians their thoughts on dating with debt and how important finances are to a relationship.

Finding your other half

Can you “go steady” without financial stability? Four out of five Canadians claim to take finances into account when searching for a potential partner.

Does love really not cost a thing? One in five Canadians say they’ve had to cut back or stopped dating completely because of money issues.

When to discuss debt in a relationship

Till debt do us part? One third of Canadians have had a romantic relationship negatively impacted by debt. To prevent this, most Canadians (55%) prefer to discuss finances before moving in together. An additional 35% prefer to have the money talk before becoming "official" or "exclusive".

Staying together for financial reasons

You, me, and the economy. One in four Canadians have stayed in an unhappy relationship for financial reasons. The top financial concerns keeping unhappy couples together are cost of living, rent, shared assets, and debt. Another quarter of unhappy couples stay together to avoid the cost of divorce. Learn what divorce could mean for your finances.

Debt isn’t a dead end.

Debt can be an isolating experience, but it shouldn’t hold you back from enjoying or creating relationships, whether romantic or not. If you’re ready to start a new relationship with your money, our debt solutions professionals are here to help. With the help of a Licensed Insolvency Trustee, you can take back control of your financial future through a bankruptcy or consumer proposal. Book your free, non-judgmental consultation today to start your journey to debt freedom.

Take the first step to debt freedom

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A man and woman hugging and smiling outside surrounded by trees

Mastering the "money talk" as a couple

As dating evolves into a partnership, it’s crucial to tackle meaningful—and sometimes difficult—conversations. One of the most important—yet often avoided—conversations is the “money talk.”

Person holding a yellow umbrella while walking down the street on a rainy day.

Saving for a rainy day: How to start an emergency fund

We've all been told to save for a "rainy day", but many Canadians won’t have money left over at the end of today. In 2024, 66% of Canadians had to cut back on saving to cover the high cost of living. So, if that’s the reality, why should Canadian's set money aside for a rainy day when they’re still in the middle of the storm?

Man with a beard and wearing a yellow shirt holds a megaphone and raises one arm in the air.

Do I get paid while on strike? And other financial concerns

From negotiations to the picket line, a strike makes your day-to-day schedule—and your finances—unpredictable. Whether you’re part of a public service, private, or trade union, we’ve addressed four common financial concerns you might have while on strike.

Medical student reviewing his student line of credit

What is a student line of credit?

Student loans don't always cover the entire cost of advanced degrees like law school, medical school, or veterinary college. While student lines of credit may provide students with the financial support required to complete thes professional degrees, this type of debt has unique risks compared to government student loans.

Woman sits on the couch contemplating how divorcing her husband with impact her finances

What happens to debt in a divorce?

Understanding how a divorce impacts your debt is important, whether it's a mortgage, car loan, or credit card debt. That's why we created this guide—to clearly outline how individual and joint debt is handled in divorce; how to protect your finances during a divorce; and how to deal with unmanageable debt after a divorce.

Calendar counting down the days to a bankruptcy discharge

How long does bankruptcy last in Canada?

There's a lot of misconceptions around how long bankruptcy lasts in Canada. While some rumors say it can last up to seven years, that's false. In Canada, a first time bankruptcy can be completed in as little as nine months. Learn how long bankruptcies last and what it means to be discharged from bankruptcy in the below article.

Wooden house representing more Canadians homeowners facing mortgage delinquency

Six ways to make your mortgage payment more affordable

Are you worried about an upcoming mortgage renewal? You’re not alone. Interest rates in Canada are significantly higher than 2020 and expected to remain so, meaning homeowners with mortgage renewals could see their monthly payments increase by $400+. If you’re struggling to afford your mortgage payments, you should look into the following six options: