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Money might not buy happiness, but to paraphrase the sage philosopher Kanye West: having it isn’t everything but not having it is. It’s hard to know how much of an impact financial instability can have on your quality of life if you haven’t experienced it yourself, and while having two people in the picture may theoretically make things a bit easier, having a significant other who can supplement your finances doesn’t necessarily make thing less stressful.
If money can make or break your relationship, you might want to reexamine how strong that relationship really was in the first place, but I’d argue you aren’t truly a couple if someone’s spending habits haven’t sparked an argument at some point. However, while talking about finances is still oddly taboo, a recent study has revealed discussing money with your significant other could be a key to not hating each other.
According to CNBC, a survey conducted by TD Bank asked people to answer a variety of questions about their personal finances and found that 90% of millennial couples discuss money on a weekly basis— the highest percentage of any generation (shoutout to the 56% of Baby Boomers who have managed to reach a point where they don’t really have to give a shit about budgeting).
You don’t necessarily have to sit down once a week to do a deep dive into your finances but experts familiar with the link between money and the success of a relationship say that addressing the elephant in the bank vault early on is key to long-term success. Dr. Jane Greer explained the reasoning, saying:
“We’re in a better place than we used to be because younger couples are more willing and open to talk about their money — and to address it directly, right out of the gate… Young people are very up front about the fact that they’re carrying debts, even credit card debts. The more open and honest you are, the more empowered you feel to be able to make financial decisions and choices that are important to you rather than winding up feeling controlled or resentful of your partner.”
Say what you will about crippling student loan debt but at least it’s bringing people closer together.