Study Shows Link Between Financial Confidence And Money Talk; Why You Should Talk Money With Your Honey
North American Precis Syndicate
It makes sense to discuss dollars and cents with your significant other. (NAPS)
(NAPSI)—Here’s something to think about the next time you’re
with your significant other: money.
According to a recent survey by Quicken, maker of personal finance
software, dollars and cents can be an important part of your sweet talk. Here
are four facts and figures that explain why your table for two should be
paired with an open conversation about finances.
1. Talking about money is hard.
People report anxiety about the topic and many have a hard time opening up
about finances. Nearly a third of survey respondents said that talking about
money made them feel anxious and over a quarter said that they avoid checking
bank account balances because ignorance is bliss. Another 31 percent said
they wished people talked about money less. In fact, the survey revealed that
only 43 percent of people tell their partners how much they make.
2. Talking pays off. People who
are most confident in their path to retirement talk about money with their
spouse or partner more than any one else in their lives. They even favor
chats with their significant other over their financial planners by 20
percent. People who identify as less confident in their path to retirement
are 15 percent less likely to talk to their spouse or partner about money
3. Money talk can even be romantic.
Over half of millennials say they’ve talked about personal finance on a
first date. For Gen X’ers, the number drops by nearly half, and boomers
stick to more traditional topics—only 8 percent have talked about money
on the first date.
4. Conversations are key. In short, open conversations about your finances—especially
with your spouse or partner—are a cornerstone of confidence in your
To help, here are some money talk tips that pair nicely with candlelight:
• Don’t avoid the
conversation. Discussing and agreeing on spending limits, big purchases,
and being equally informed about your finances are vital.
• Choose the right time to
talk. Try to find a time when you and your partner are more likely to be
at your best, rather than when you’re running out the door to work or
have just gotten home and may need time to decompress. Many couples have
standing monthly dates to review their financial picture together.
• Leverage a tool to track
your goals together. Using software or apps such as Quicken, provider of
the best-selling personal finance software in the U.S., can make setting
goals and tracking spending collaborative—and maybe even more
For further facts, tips and insights on taking control of your financial
life and liking it, go to www.quicken.com.
“Talking to your
significant other about money can be good for your finances. Software or apps
such as Quicken, provider of the best-selling personal finance software in
the U.S., can make setting goals and tracking spending easier, maybe even
On the Net:North American Precis Syndicate, Inc.(NAPSI)