As The Cost Of Living Skyrockets, Couples Stay Together Because Of Money

Money can be a relationship’s downfall, but it can also be the reason couples stay together.

With more Americans feeling financially constrained, 23% of all couples are primarily staying in their current relationships due to financial dependency, according to a new report by LendingTree.

Between sky-high inflation and stubborn gender dynamics, money plays a big role in most relationships.

For starters, the better your financial footing and the higher your credit score when a committed relationship starts, the less likely you are to break up after the first few years, according to research by the Federal Reserve Board.

Couples in committed relationships also tend to do better financially. A Pew Research study found that men and women both earned more and were more financially sound in a relationship.

Why A “Yours, Mine And Ours” Account Setup Is Smart

According to experts, there is no right or wrong way for couples to manage their finances, as long as they are in agreement with their approach. A recent study conducted by LendingTree revealed that around 62% of married, civil partnership or cohabiting couples share at least one account, while only about 41% fully combine funds.

Experts typically recommend that couples have separate accounts in addition to a joint account, so each individual has their own money while also contributing to a shared account. LendingTree surveys have found that sharing an account can lead to fewer fights about money, with only 12% of couples experiencing financial issues compared to 15% of those without a shared account.

Sharing a joint account can increase transparency and trust in a relationship, as both partners have equal visibility into their finances. Furthermore, couples who share at least one bank account are more likely to stay together after a financial argument, with 58% reporting they remained together compared to only 47% of those without a shared account.

For those who pool their money together, it’s still important to discuss their financial status and goals regularly. Experts stress that honesty, openness, and transparency are crucial for the success of a relationship, especially when it comes to finances.

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