I'd say counselling might be a good idea, for a few reasons. Firstly, 7 years is a long time, and I get the feeling that you aren't so much 'not in love' as 'sick of the fighting', which is a recoverable position. Secondly, cyclic fighting, like you described, is usually related to something; its not out of the blue. Thirdly, it'll provide you with tools and skills to use if/when you fight again in the future. Finally, if you give it a shot and the relationship still fails, you can be comfortable that you gave it your all.
On the other hand, you did mention that he's only 21, so you've been together since you/he was 14. You very well might just be outgrowing the relationship, either both or one of you, and that might not be something you can fix. That can be due to simply the way you're growing up naturally, or just plain being unwilling to change or comprimise. Either way, counselling might be a good idea- not just for this relationship, but for potential future relationships.
Also, you're Australian, so you may be able to get a few counselling appointments free or very cheap on Medicare. You'll need a referral from your doctor to get it for free, and I don't know if it applies to relationship issues, but its worth a shot (especially since you said you were under financial pressure).