Happy couples can and do talk about money
By Mary Hightower
The Cooperative Extension Service
U of A System Division of Agriculture
- Survey: Couples that talk about money weekly more likely to be happy
- “Talk about money, not fight about money.” – Laura Connerly
LITTLE ROCK – Money may not buy happiness, but couples who talk about money at least once a week are more likely to describe their relationship as “extremely happy,” said Laura Connerly, assistant professor for the University of Arkansas System Division of Agriculture.
That finding came out of the newly released TD Bank’s Love & Money survey.
“Talking to your spouse about money may be a way to improve your relationship. Money can be a stressful topic,” she said. “Couples who work at being on the same page financially are increasing their chances not only for financial success but also for relationship success.”
Connerly said it’s important for couples to be deliberate in their conversations about cash.
“This could be planning a weekly time to review spending, look over statements, and talk about financial news,” she said. “However – it’s critical that this be a conversation and not a blame session. Aim to talk about money, not fight about money.”
Connerly has some tactics to help couples tackle the money conversation in a healthy way:
- Choose a time and place. Being relaxed and without interruptions will allow each of you to express your thoughts and more readily listen to what your partner has to say.
- Each partner should be allowed time to express their thoughts and feelings.
- Listen without interruption or judgment. Remember, you are on the same team.
- Respond with compassion and respect. Do not abuse that trust by using what the person shared to hurt them. Compassion is a key to positive financial discussions in marriage.
To find out more
Whether a newlyweds or a long-established couple, the Financial Smart Start for Newlyweds fact sheet series can help you find ways to eliminate money stress. The fact sheets are available at: http://www.uaex.uada.edu/life-skills-wellness/personal-finance/life-stages-events/couples.aspx
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Media Contact: Mary Hightower
Dir. of Communication Services
U of A Division of Agriculture
Cooperative Extension Service