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LOVE OR MONEY?
HSBC RESEARCH SHOWS AUSTRALIANS DON'T CONSIDER MONEY WHEN LOOKING FOR LOVE

13 February 2008

New research released by HSBC in time for Valentine's Day shows Australians couldn't care less about money when looking for love. The findings come from research by HSBC Bank into Australians' financial and romantic motivation, with 1,000 people surveyedⁱ around the country.

Almost five per cent of Australians said they would turn down a date with someone who earned more than them, while three quarters would be happy to go out with someone who earned considerably less or was unemployed.

Over half of those surveyed said they'd stand by their partner and do nothing to change them if they were in a dead end job, while over 40 per cent said they'd encourage them to get better qualifications or a better job.

Nine out of ten Australians said they put love and happiness ahead of financial stability when it comes to long term relationships.

Andrew Carruthers, HSBC's head of savings and investments said: "A healthy bank balance isn't enough to win the heart of today's financially independent Australians. Attraction seems to be a more important factor than wealth when choosing a partner.

"Researchⁱⁱ shows that today's couples are marrying later, and after years of managing their own money they're not looking to their partner to give them a sense of financial security."

The HSBC research showed:

• Those from NSW, SA and WA were the least swayed by the prospect of a date with a high roller. Five per cent would decline a date with someone who earned more than them, followed closely by QLD (4%). In contrast, 100 per cent of NT and ACT respondents said they'd go out with someone who earned more than them.
• In NSW, QLD and VIC almost 80 per cent were happy to date someone who earned considerably less than them while those from the ACT (87%), SA (85%) and NT (83%) were even more tolerant. West Australians, however, were least likely to date someone who earned considerably less than them or were unemployed (26.5% would decline), followed closely by SA (25%).
• Those from the ACT (61%) and WA (54%) were most intent on changing their partner to help them earn more, while Tasmanians (38%) and South Australians (40%) were least interested in doing so. In NSW, 46% would try and in the NT 45%, followed by VIC (44%) and QLD (42%).
• Australians rejected the notion of leaving their partner if they were in a dead end job...almost. One per cent of West Australians would dump their partner for lack of income.