Post-Recession, Couples Are Smarter About Money

Post-Recession, Couples Are Smarter About Money Photo (cc) by slightly everything

American couples are a little wiser now when it comes to dealing with personal finance matters. It appears to be the silver lining of the Great Recession.

More than 80 percent of couples married after the recession said they discuss financial goals with their spouse at least once a month, CNN Money said. Before, it was 65 percent.

Money has long been a major reason many marriages fall apart. But in the wake of the most recent recession, many couples have learned to tackle their financial issues head on.

Couples reported discussing the cost of any purchases totaling $256 or more, on average. Before the recession, couples said they would spend $1,000 or more without ever talking to their spouse.

The recession seemed to spur a certain financial openness that didn’t exist before. But it appears that generational differences also come into play. For instance, about 70 percent of Generation Y (the Millennials) discussed building a nest egg before tying the knot. Compare that with 50 percent of Generation X and 45 percent of the baby boomers, CNN Money said.

Although the financial openness of post-recession couples is promising, married couples continue to fight (a lot) about money issues. According to The Huffington Post:

Survey results showed that 70 percent of couples argued about money more than household chores, togetherness, sex, snoring and what’s for dinner.

So what exactly are those financial fights all about?

Couples cited frivolous purchases, household budgeting and credit card debt as the biggest sources of friction.

When it comes to earning a paycheck, husbands said they’re happiest when their wives can bring in the same salary or even more money than they do, HuffPo said.

Have you changed the way you handle your personal finances post-recession? Share your comments below or on our Facebook page.

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