Financial adviser’s advice: How to approach finances as a couple
Money can be an emotional subject for couples. Without a shared understanding and commitment to financial goals, partners may find themselves arguing more and even resenting each other.
“Money arguments are normal. Even the closest couples argue about money,” says Stephanie Genkin, a certified financial planner and founder of the Brooklyn-based My Financial Planner, LLC. “The goal is to listen to your partner and avoid going to bed angry.”
In this article, we’ll break down some of the best advice from experts on how couples can navigate common financial considerations, such as opening a joint savings account and combining debt.
Here’s what financial experts have to say about the best way to manage your money as a couple.
Key takeaways
—More than 4 in 10 (42%) U.S adults who are married or living with a partner say they’ve kept financial secrets from their significant other, according to Bankrate’s financial infidelity survey.
— About a quarter of Americans who confessed to keeping a financial secret from their partner admitted to racking up debt without a partner’s knowledge (23%), while 18% said they maintained a hidden credit card.