Love and Money
Money can make or break a relationship – really.
The Journal of Consumer Research found that money can bring couples closer together. Those with joint accounts experienced increased marital satisfaction compared to those with separate accounts. Conversely, finances can also drive couples apart. The Institute for Divorce Financial Analysts study found “money issues” to be one of the top three causes of divorce, behind basic incompatibility and infidelity.
Clearly, money is a big deal when it comes to maintaining a healthy and happy relationship. Broaching the subject can seem intimidating if it’s not something you’re already talking about it – so when is the right time to bring it up?
Nearly one-third of Americans feel that conversations about money should happen at the beginning of a relationship before things get serious. The same amount feels that financial compatibility is more important than spiritual, intellectual, or even physical compatibility with a romantic partner.
The good news? It’s easier to get on the same financial page than you might think. These easy-to-follow guides can help couples navigate their finances while avoiding the awkwardness.
If you have additional questions or need help managing debt, either separately or as a couple, we’re here for you. Call us at (844) 276-1544 to request a free confidential debt and budget analysis from a certified credit counselor.