The company says around 1.3 million women and around 732,000 men have lost their libido and sorting out their finances is the only way to rediscover it.
But who is most likely to lose their libido due to money worries? Of those who have experienced money problems affecting their relationships, over half are either married or cohabiting, 23 per cent are widowed or divorced and perhaps surprisingly 22 per cent are single.
The study showed that women are more than twice as likely to let financial problems affect their sex life than men (64 per cent female and 36 per cent are male). In addition, 68 per cent of those who have lost their libido due to money worries are between 35 and 54 years of age.
Regionally, Northerners are most likely to lose their sex drive due to money worries. 25 per cent of those who live in the North who have had their personal relationships affected by money say that their libido has dropped. In contrast, Southerners either have less money problems, or if they do, they tend to prioritise sex over money, as just 14 per cent say that money worries have affected their libido.
So how else do money problems affect our relationships? Of those people who have experienced relationship problems because of their finances:
- 37 per cent of people say they spend less quality time with their partners
- 50 per cent have more arguments and a shorter temper when they are worried about money
- 26 per cent of adults have admitted that money worries make them spend less quality time with their children
Over seven million adults also admitted to avoiding discussing their finances with their partner, family or friends as it causes them anxiety. 3.2 million of these people went as far as to say that they always avoid financial discussions with those closest to them.
Darrin Nightingale of AXA says: "Our study has revealed that this sensitive problem is quite widespread and a person with a financial problem is likely to lean on his or her partner for support and advice. When the original money problem breeds a second, more personal, problem with their relationship, it can make things much harder to deal with. With this study comes the recognition that money worries, and a lack of financial understanding and know-how, are affecting both the mental and physical aspects of their personal relationships."
