One in three Americans (32%) is the unpleasant finances of discussion in their relationship, according to new research.
A study of 2,000 Americans in a relationship, including 500 in a cross -border relationship (meaning they have a partner currently living in another country) found out of the unpleasant ones who speak with their important money, almost Half (44%) worry that discussing finances in their relationships will lead to disputes.
This is understandable, as the average couple surveyed reported that there were 58 money -related arguments per year. Disputes are more common for those in a cross -border connection, which on average 72 arguments per year compared to 53 for couples living in the same place.
The research, conducted by Talker Research on behalf of the international money app, revealed that young couples also stood out as more likely to have money disputes – with the millennium responding to about six arguments a month, compared to three Children’s boomers.
In all answers, arguments are most likely to focus on what is considered a “necessity” to spend each month (43%) and how much to talk about “non -essential items” such as subscriptions and transmission breaks (36%) , also as how much money should be saved (34%).
But the potential of starting arguments was not the only reason why respondents said they felt uncomfortable talking to their partner about finances.
For these respondents, almost a third said these conversations are difficult because they have different ideas than to talk and save (32%), while a quarter (26%) think their partner is less responsible with money than they are.
From them with a partner in another country, 27% also noted that conversations can be uncomfortable because it
While arguments and discomfort to talk about money are relatively common, being financed with a partner is important for many answers. Four to five (82%) Americans surveyed couples of beliefs who have a similar philosophy of money are essential for a healthy relationship.
Despite this, only 69% of respondents have a similar financial philosophy as their partner.
“From cultural changes to individual preferences, the way we manage our finances is personal, determined by the way we think about the world and the things we value most,” said Ankita D’Mlo, the main manager of products in Wis . “But having money conversations with a romantic partner is important to build a common financial future.
“By learning about your partner’s attitude towards money or working together to find money management tools and techniques working in your relationship, couples can usually turn challenging conversations into opportunities to grow closer. “
How often couples have to talk about finances in their relationships can also be affected by their living situation. For example, 42% of couples in cross -border relationships believe that they have more to discuss than couples living in the same place.
This is probably why respondents with a partner living abroad are almost twice as likely to say they need more conversations with their partner about money (73% VS 37%).
When asked that they find it more difficult to manage money with a partner who lives in another country, the reply said the main issue is to stay aware of the currency conversion rates (36%).
This was closely followed by detecting the best tools to use when sending or receiving money (36%) and dealing with money transfer fees if they (or their partner) needed to send money to the next (35%).
“For couples in cross -border relationships, the basics of sharing finance with a partner can become unnecessary complex and expense to navigate and receive money to pay bills in multiple currencies,” Added d’mello. “To remove this added from their relationship, it is essential for cross -border couples to find financial means that specially care for their international money needs.
“As in any healthy relationship, transparency is essential, which is why it is important to ask providers who are ahead of fees to avoid any unexpected fees.”
Why are some respondents uncomfortable talking to their partners about money?
- I am concerned about causing a dispute – 44%
- We have different ideas than to spend and how to save – 36%
- I believe I am more responsible with money than my partner – 26%
- I worry my partner will judge my financial habits – 18%
- I’m worried about my debt and don’t want to discuss – 17%
- My partner has more money than I – 16%
- Culturally, our attitudes to talk about money are different – 15%
Survey Methodology:
Talker Research surveyed 2,000 Americans in a relationship, with 500 of those in cross -border relations. The survey was ordered by Wise and was administered and carried out online by Talker Research between Jan. 9–22.
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