From "I Do " to "We're Through ": BMO Survey Reveals Cost of Living Pressures Affecting Relationships

From "I Do" to "We're Through": BMO Survey Reveals Cost of Living Pressures Affecting Relationships

• Two-in-five divorced or separated Canadians admit financial concerns kept them in a marriage longer than they wanted and influenced when they separated
• Nearly half of those who have married (47%) view marriage as more of a financial commitment than an emotional one
• One third of coupled Canadians say spending is a source of conflict in the relationship

TORONTO, June 11, 2026 /CNW/ - With cost-of-living concerns top of mind for many Canadians, part one of a new special report from the BMO Real Financial Progress Index reveals financial pressures are outweighing emotions for marriage and separation decisions.

The survey examines how concerns about affordability and economic uncertainty are influencing how Canadians approach relationship milestones, revealing:

• Bound by Costs, Not Commitment:
  • Nearly two-in-five (37%) divorced or separated Canadians say the financial cost of divorce or legal separation kept them in the marriage longer than they wanted, while the same share (37%) said economic uncertainty, such as job stability and inflation, influenced the timing of their divorce or separation.
  • More than a quarter (28%) delayed their divorce or legal separation, with the leading causes including concerns about financial costs of the process (32%), affording separate households (27%) and economic uncertainty such as inflation and job security. (18%).
  • Over half (51%) say the rising cost of living has made the financial impact of divorce harder than expected.
• Where Money Meets Matrimony:
  • Nearly half of those who have married (47%) admit getting married is a bigger financial step than an emotional one, a view most strongly held by Millennials (56%) and Gen Z (54%).
  • Nearly two thirds (63%) feel being married involves more ongoing financial planning than anticipated.
  • 48% feel managing finances as a married couple is more difficult than managing the emotional or romantic elements of their relationship.
• Finances Outweigh Feelings:
  • 44% feel the financial aspects of getting married and/or having a wedding are more of a challenge than committing to their partner, a sentiment felt most strongly by Millennials (53%).
  • One third (33%) of Canadians feel pressured to move in with their partner to save money.

"While building a life with someone special can be a journey filled with joy and hope, affordability concerns can bring some challenges, complicating and even overshadowing the romantic elements of a relationship," said Anthony (Tony) Tintinalli, Head, Specialized Sales, BMO. "Having early and honest conversations about money, building emergency savings and seeking professional advice can help couples better prepare for how financial realities intersect with life's biggest moments, protect themselves from unexpected challenges and make real financial progress through every life stage."

"Money is often one of the biggest sources of stress during a separation or divorce, particularly when the financial impact is larger or more prolonged than expected," said Carol Willes, Director, Estate Planning, BMO Private Wealth. "Working with a financial professional can help individuals understand the full picture, reduce uncertainty and focus on rebuilding financial stability as they move into the next chapter of their lives."

According to BMO Economics, although inflation is no longer elevated, the cumulative increase in prices in recent years continues to strain affordability for Canadians.

"While Canada's annual CPI rate remains moderate at 2.8% in April and down from four-decade highs of 8.1% in mid-2022, the level of prices is 20% higher than five years ago, placing strains on affordability for families," said Sal Guatieri, Senior Economist, BMO. 

Financial Compatibility Tested  

The BMO survey examines the role financial compatibility plays in relationship dynamics among those who are married, living with a partner, or are in a committed relationship, revealing:

• When Spending Sparks Tensions:
  • Nearly a third (32%) say spending is a source of conflict in the relationship.
  • Nearly two in five (36%) feel their partner or spouse spends too much including impulsive purchases, expensive items, etc.
• Big Decisions, Bigger Arguments
  • Nearly one in five (17%) say big purchases have led to arguments.
  • Over a quarter (28%) say vacation planning causes financial conflict in the relationship.
• Financial Power Imbalance:
  • 60% say their partner or spouse is the more frugal party in the relationship.
  • Over half (54%) say they are financially dependant on their partner or spouse.
  • 41% admit their partner or spouse understands financial planning better than they do.

Foundations for Financial Fidelity

BMO offers tips and resources to help Canadians and their loved ones manage financial pressures, prepare for relationship milestones and make real financial progress:

• Align on spending styles early: Understanding how each partner approaches spending, saving and budgeting can help reduce friction before habits turn into recurring sources of conflict.
• Set clear expectations for big financial decisions: Agreeing in advance on how major purchases, shared expenses and discretionary spending will be handled can help limit stress around high‑impact decisions, such as vacations or household investments.
• Be transparent about financial responsibilities and confidence levels: Open conversations about who manages finances, who feels less confident, and where support may be needed can help address imbalances that affect trust and decision‑making.
• Plan for shared goals while maintaining flexibility: Aligning longer-term priorities such as housing, family planning or career changes, while allowing room for individual financial independence, can help couples adapt as circumstances change.
• Build resilience into financial plans: Setting aside savings for unexpected expenses or income disruptions can help reduce anxiety during periods of economic uncertainty and provide greater stability when financial pressures arise.
• Seek professional advice: Working with a financial professional can help couples balance near‑term costs, such as weddings, with longer‑term goals and continue making real financial progress through different life stages.

To learn more about how BMO can help Canadians make financial progress, visit www.bmo.com/main/personal.

About the BMO Real Financial Progress Index

Launched in February 2021, the BMO Real Financial Progress Index is an indicator of how consumers feel about their personal finances and whether they are making financial progress. The index aims to spark dialogue that will help consumers reach their financial goals and to humanize a topic that causes anxiety for many – money.

The research detailed in this document was conducted by Ipsos in Canada from December 29, 2025 to January 27, 2026. A sample of n=2,503 adults ages 18+ in Canada were collected. Quotas and weighting were used to ensure the composition of the samples reflects that of the Canadian population according to census parameters. The surveys have a credibility interval of +/- 2.4 percent 19 times out of 20, of what the results would have been had all Canadian adults 18+ been surveyed.

About BMO Financial Group

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of April 30, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.

SOURCE BMO Financial Group