Despite how glamorous “Divorce Court” can make parting ways seem… most couples are aiming to stick together 👰💣? New research shows that the couple saves (money) together, stays together.
Here’s Five Fast Facts you NEED to know about this:
- 👫 Sharing is Caring: 43% of couples married or living together share their money through joint accounts. That being said, it's recommended that couples keep separate accounts too to have some financial independence.
- 👵 Boomers Gonna Boom: Baby boomers are the most likely to have a joint bank account with their partner (49%). Gen X falls slightly behind at 48% and millennials come in at just 31% (what’s going on there?!).
- 💰💪 Stronger Together: Research found that couples in low income brackets benefitted the most from sharing resources.
- 😱 Don't Lie to Me: Another poll found that shared bank accounts are like shared Facebook accounts – two out of five couples who do it have committed some sort of financial infidelity in the past. They were hiding their lying, cheating, two timing, double dealing, mean, mistreatin, bank accounts. (Good luck getting that song out of your head now.)
- 🚩Lasting Effects: 85% of adults who experienced financial infidelity say that it was hard to recover. The biggest consequences listed were continued arguments (42%) and a loss of trust (32%).
🔥Bottom line: Money's not always an easy topic to discuss with your partner, but two heads are better than one when it comes to achieving a shared financial goal. . And whatever the topic, honesty and transparency are the keys to any lasting relationship.
Do you share accounts with your main squeeze? Let us know by connecting with us on Social Media and be sure to share this newsletter with any friends & coworkers!
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