“For whatever the reason, whether it’s a lack of time or a lack of comfort in talking about it, couples do not speak about money frankly and openly enough, and that leads to arguments and conflicts within their relationship,” said Jordan Amin, chairman of the National CPA Financial Literacy Commission.
Most often, couples disagree whether expenditures are necessities or luxuries; 58% of those who argue about money report arguments prompted by differing opinions of “needs” vs. “wants.” Forty-nine percent argue about unexpected expenses, and 32% argue about insufficient savings.
Failure to communicate about finances contributes to the conflict between couples, according to the survey. Fifty-five percent of survey participants who are married or living with a partner reported that they do not set aside time regularly to talk about their finances.
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