[E18] Money & Relationships – Why is it so Hard to Talk About Money?

<p>Data for couples that are dating:</p><ul><li>88% of men and 96% of women do NOT bring up the topic of money on dates.</li><li>The majority of men (64 percent) and women (53 percent) say they talk about money with their SO "only when necessary."</li><li>When talking about money with their SO men are most likely to (50 percent) feel "confident;" while women (34 percent) are most likely to feel "comforted."</li></ul><p>Data for couples that are married:</p><ul><li>nearly one-in-three (30%) couples say finances cause the most stress in their relationship, followed distantly by intimacy (11%), their children (9%) and their in-laws (4%).</li><li>12% of the general population say they’ve never talked about money with their spouse.</li><li>Among those surveyed, $275 is the average threshold at which couples need to consult with their partner before making a purchase ($395 among affluents and $249 among young professionals).</li><li>Forty percent believe their partner spends more money than they do on things outside of household expenditures. The same number (40%) consider themselves more diligent than their partner when it comes to saving money and budgeting.</li><li>While only 43 percent of the general population talked about money before marriage, the number rises to 57 percent for affluent couples and jumps to 81 percent for young professionals.</li></ul><p>Problem: Lack of Communication over Finances Often Leads to Financial Infidelity and/or Can Create Resentment </p><p>Examples:</p><ul><li>Keeping your full income a secret</li><li>Hiding a bank account from a spouse when you have a joint account together</li><li>Opening a credit card your significant other doesn’t know about</li><li>Hiding money before divorce so it’s not included in the settlement</li><li>Using a partner’s credit card or credit identity without their knowledge</li><li>Secretly saving money from your spouse so they don’t spend it</li></ul><p>“When you talk about how much you make, you are assigning a value to your worth, and that puts you in a r