When bills become a problem, couples stop communicating

FRIDAY, July 4, 2024 (HealthDay News) — If you and your partner stay silent when vexing money issues arise, new research suggests you’re not alone.

A team from Cornell University found that the more stressed people were about their finances, the less likely they were to discuss these concerns with their romantic partner.

The results were recently published in the Journal of Consumer Psychology.

“That’s the first thing that fascinated us about this topic: The financially stressed people who most need to have these conversations are the ones who are least likely to have them,” said Emily Garbinsky, a co-author of the study and an associate professor of marketing and management communications at Cornell.

Financial stress affects 70% of Americans, the researchers noted, and includes feeling overwhelmed by spending, difficulty meeting financial obligations and worry about managing money.

Even wealthy people can struggle with financial anxiety, and this stress makes it difficult to have meaningful conversations about money with their partner.

Unsurprisingly, the most common strategy is to avoid the sensitive topic altogether, the researchers noted. Why? They found that this avoidance stems from the belief that financial conflicts with a partner are perpetual and unresolvable.

For the study, scientists combed through survey data from thousands of people who responded to the Consumer Financial Protection Bureau’s National Financial Well-Being Survey or a survey conducted by the National Center for Marriage Research. Both sets of data 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 more conflict when discussing financial stressors than when discussing other common stressors, such as work-related issues.

This study suggests that changing perceptions of financial conflicts could improve communication between partners.

“When people view financial conflict as a problem they can solve as a team, rather than an ongoing, long-term disagreement, they are more willing to engage in conversations about money with their partner,” said study co-author Suzanne Shu, a marketing professor at Cornell. “This finding underscores the importance of rethinking how couples approach financial discussions to foster healthier communication patterns.”

More information

The California Department of Financial Protection and Innovation has more information on managing finances in your marriage.

SOURCE: Journal of Consumer PsychologyJune 2024; Cornell University, press release, June 2024