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Avoiding money problems in relationships

AVOIDING MONEY PROBLEMS IN RELATIONSHIPS You spent how much?! Money is the #1 source of conflict In a recent survey, couples were asked to share which issues are most likely to cause an argument: 1 Money 2 Children 3 Chores 27% 16% 13% All couples surveyed Of couples whose financial status declined in the last year... 53% cited money as the issue they argue most about Deception can lead to disagreements... and divorce 3 in 10 adults married or living with a partner have engaged in some deceptive financial behavior Common deceptive behaviors include • Hiding purchases • Making major purchases without consulting their partner Couples who disagree over >30% money every week are more 30% more likely to get divorced than couples who only argue a an few times per month Income and infidelity According to a study of 18- to 28-year-olds married or living together for at least a year, the amount of money each partner earns may affect the couple's chances of infidelity. Men who make a Men who make lot more than their partner a little more than more likely their partner to cheat Women who are Women who entirely dependent on their partner's make the same amount of money income half as likely as their partner to cheat Men who are Men who entirely dependent make the same on their partner's income as their income 5x more likely partner to cheat Which men are least likely to cheat? Those whose partners make about 75% of their income. This ratio mimics the national breakdown 75% for average incomes among men and women Ignoring the issue In spite of the perils money problems pose to couples, only a few address financial matters head-on. O 57% Not do not discuss money tonight. before tying the knot 55% do not set aside regular time to talk about money 91% find reasons to avoid discussing finances 5 ways couples can find financial harmony Arrange regular times to talk money Discuss finances around every payday, before money problems arise. Respect each other's contributions Your spouse's income shouldn't affect how you treat them, particularly if you both make a meaningful contribution to the household. Practice compromise 3 Learning to respect each other's wishes and bend a little on some things can help foster cooperation. 4 Divide financial tasks Instead of having one shoulder the 200 burden, let each partner play a regular role in money management. Set common goals Working toward shared objectives - such as building an emergency savings account - can help couples function more like a team. M MoneyRates Make the most of your money Created for MoneyRates.come Quinstreet, Inc., 2012 Sources http://www.aicpa.org/press/pressreleases/2012/pages/finances-ceusing-rifts-for-american-couples.aspx http:/economix blogsnytimes.com/2009/12/07/money-fights-precict-divorce-rates http://www.asaret.ara/press/indidelity_and_incamecfm http:/fwww.asuw.org/media/aresareleases/EqualPayRaniings2012.ctm http:/aboutamcricanexpress.com/ncws/pr/201ymtc.aspx %24

Avoiding money problems in relationships

shared by Cyue on Dec 06
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Money is a common source of friction in relationships, particularly in difficult financial times. When left untreated, money problems may damage the trust and understanding necessary to a healthy rela...

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