Why money matters more than ever in modern relationships

Dubai: From who pays on the first date to managing joint savings, money is shaping relationships like never before — and yet, it remains one of the last things couples want to talk about.

In a recent study by HSBC UK, 75% of people said financial compatibility is crucial to relationship success, yet many are still hesitant to have the conversation. According to the findings, 41% wait until they’re engaged or married to discuss money seriously — and for over a third, the topic only comes up when problems arise.

“Money talks aren’t just about budgeting – they’re about trust, priorities and building a future together,” says Carl Watchorn, Head of Customer Propositions.

First dates are getting pricier?

It turns out that first impressions can be expensive. More than a third of people reported spending between $64–$127 (Dh235–465) on a first date, with some in the 25–34 age group spending as much as $510 (Dh1,870) to make a lasting impression.

Interestingly, splitting the bill is now the most common approach, with 36% preferring to go halfsies. Older daters (45+) were the most likely to support shared expenses, signalling a shift in financial norms across generations.

When couples start talking money

Despite knowing how critical financial alignment is, most couples are still delaying the conversation:

• 41% only talk finances around engagement or marriage

• 40% wait until they move in together

• 35% address money only when there’s a problem

Worse yet, 28% avoid the topic altogether.

Still, marriage remains a major catalyst for opening up bank accounts together. While 71% of married couples use joint accounts, only 30% of dating couples do. These are typically used for bills (52%), savings goals (32%), and holiday funds (20%).

“There’s still a sense of awkwardness or even fear around talking about money – especially early on,” says Carl. “But honest conversations about spending habits, saving goals and priorities can prevent conflict and set couples up for longer-term success.”

Weddings are financial milestones

Weddings, while joyous, can become financial curveballs. The research shows that couples overspend on their weddings by 31%, with the average wedding cost at $17,200 (Dh63,150) — a jump of over $3,800 (Dh13,960) from the planned budget.

For younger couples aged 25–34, the numbers rise dramatically. This group spends an average of $27,400 (Dh100,650) on their weddings, overshooting their original plans by 46%.

And it’s not just the bride and groom feeling the pinch. Wedding guests spend an average of $600 (Dh2,200) per celebration — covering outfits, gifts, and accommodation. For many, this is too much: 35% of respondents said they’ve declined a wedding invitation for financial reasons, rising to 48% among younger adults.

“Couples today are navigating the delicate balance between creating their dream wedding and maintaining financial wellbeing,” Carl explains. “Social pressures can influence spending, but we’re seeing more couples openly discussing costs and priorities.”

Money talks matter in UAE too

While the survey didn’t survey UAE residents specifically, the insights can resonate here too. With high costs of living, a rising number of dual-income households, and a diverse expatriate population, clear and early financial communication can make or break long-term goals — from housing and kids’ education to retirement planning.

The takeaway? Start the conversation early. Whether you’re dating, engaged, or already married, being financially aligned is as important as being emotionally in sync.

From first dates to wedding planning, it’s clear that money matters — and talking about it openly may be one of the smartest financial moves couples can make.