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When bills become a problem, couples stop communicating.
FRIDAY, July 4, 2024 (HealthDay News) — If you and your partner find yourself falling silent when uncomfortable financial issues arise, new research suggests you’re not alone.
A team at Cornell University found that the more stressed people were about their finances, the less likely they were to discuss these concerns with their romantic partners.
The results were recently published in Journal of Consumer Psychology.
“That’s the first thing that fascinated us about this topic — that individuals with financial difficulties who most need to have these conversations are the least likely to have them,” said study co-author Emily Garbinskyassociate professor of marketing and managerial communication at Cornell.
Financial stress affects a staggering 70 percent of Americans, the researchers noted, and includes feelings of being overwhelmed by spending, difficulty meeting financial obligations and worrying about money management.
Even those who are wealthy can suffer from financial anxiety, and this stress makes it difficult to have constructive conversations about money with their partners.
Not surprisingly, a common strategy is to avoid the sensitive topic altogether, the researchers noted. Why? What they found was that this avoidance stems from the belief that financial conflicts with a partner are perpetual, rather than solvable.
In the study, scientists analyzed survey data from thousands of people who completed either the Consumer Financial Protection Bureau’s National Financial Well-Being Survey or a survey conducted by the National Center for Marriage Research. Both data sets confirmed that higher levels of financial stress were linked to less communication about finances with a partner. Additionally, a pilot study found that people anticipate greater conflict when discussing financial stressors than when talking about other common stressors, such as work issues.
The finding suggests that changing perceptions of financial conflicts can improve communication between partners.
“When individuals view financial conflicts as a problem they can solve as a team, rather than a long-lasting, perpetual disagreement, they are more willing to initiate conversations about money with their partners,” the study’s co-author explained. Suzanne Shumarketing professor at Cornell. “This finding highlights the importance of reframing how couples approach financial discussions to promote healthier communication patterns.”
More information
The California Department of Financial Protection and Innovation has more information about navigating your wedding finances.
SOURCE: Journal of Consumer Psychology, June 2024; Cornell University, press release, June 2024