11/28/2023 0 Comments Keeping finances separate in marriage![]() So while the research casually points to joint accounts being a sound choice for married couples, it’s not meant to be taken as universal relationship advice. The basis of this study - relationship quality - is subjective and based on individual perception. “They frequently told us they felt more like they were ‘in this together,’” Olsen said in the release. Joint accounts also encourage cooperation between couples in their financial goals and allow them to respond to each other’s needs more effectively. Researchers found support for three reasons joint bank accounts have a positive effect on marital happiness.įirst, sharing accounts improves how partners feel about each other’s financial choices. Why joint accounts may improve relationships Married couples in the second study reported being more communal and aligned in their goals, enjoying more transparency concerning finances and greater financial harmony. “There’s a ‘we’ perspective, which we theorized would be related to a joint bank account.”Ī complementary study on a separate group of married couples with completely combined bank accounts supported the initial study’s findings. I’m not keeping track,’” Jenny Olson, the study’s lead author, said in a news release. “A communal relationship is one where partners respond to each other’s needs because there’s a need. Couples in this group reported greater satisfaction with how partners handle and discuss money. The positive effect of merging bank accounts was driven in part by the resulting financial harmony, according to the report. Over a two-year period, the researchers found that while the last two groups saw “normative” declines in the quality of their relationships, couples directed to merge their bank accounts self-reported “substantially higher relationship quality” than the other groups. (Most of the pairs who weren’t given directions kept their bank accounts separate.) One was asked to combine their finances into a joint account, the second was told to keep their money apart, and the last group wasn’t given any instructions. ![]() ![]() The researchers randomly assigned 230 engaged or newly wed couples with separate bank accounts into three groups. Hawaii Alaska Florida South Carolina Georgia Alabama North Carolina Tennessee RI Rhode Island CT Connecticut MA Massachusetts Maine NH New Hampshire VT Vermont New York NJ New Jersey DE Delaware MD Maryland West Virginia Ohio Michigan Arizona Nevada Utah Colorado New Mexico South Dakota Iowa Indiana Illinois Minnesota Wisconsin Missouri Louisiana Virginia DC Washington DC Idaho California North Dakota Washington Oregon Montana Wyoming Nebraska Kansas Oklahoma Pennsylvania Kentucky Mississippi Arkansas Texas Open an Account What the research says ![]()
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