Take good care of your…financial affairs!

It’s Valentine’s Day tomorrow, reminding those of us in relationships to take good care of our financial affairs to ensure ongoing relationship satisfaction. Flowers and chocolates may also be appreciated, however studies indicate that finances have a profound effect on relationships. A recent new study had some interesting findings:

A large proportion of relationship satisfaction can be determined by how a person perceives his or her partner’s financial spending behavior.
As a partner spent more money without consultation, satisfaction decreased.

What can you do to improve your relationship?

before becoming involved, review your partner’s spending behaviors to ensure that they are in line with yours

develop a joint spending plan or budget

ensure that you use good strategies to stay within your budget

consult one another (and the budget ) before making large purchases

Contact one of our Money Mentors if you need some assistance.

Britt, Sonya, John E. Grable, Briana S. Nelson Goff, and Mark White. (2008) The Influence of Perceived Spending Behaviors on Relationship Satisfaction. Financial Counseling and Planning, 19 (1) 31-43

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