Couples who share a bank account may experience fewer problems with money, according to LendingTree.
A total of 62% of couples claim to share at least one bank account, and 41% have their funds combined. Of the couples who share at least one account, only 12% said that financial matters had caused problems in their relationship — 25% less than those who do not share, according to a study by LendingTree.“Openness, honesty, and transparency are crucial for a relationship’s success, and that’s certainly true when it comes to money,” said Matt Schulz, LendingTree's chief credit analyst.
The study comes as more than half of people in the United States, 51%, say that financial matters have caused problems in their relationships — with 61% of parents with children 18 and younger saying so. Most millennials, 58%, and consumers making between $35,000 and $49,999, 56%, were also likely to say finances have affected their relationships.
Of the respondents who claimed financial troubles had caused problems in current or past relationships, 44% said they hashed the problem out and stayed together. Thirty percent of the other respondents broke up or divorced due to their money problems, and 21% said their problems made them reassess how they handled finances in their relationship. Sixteen percent failed to find a solution to their problem, and 8% agreed to talk about their problem at a later time.A total of 33% of U.S.
A total of 2,000 U.S. consumers were surveyed about their financial experiences with their partners in this study.
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