We do not all start with a perfect knowledge of what to do with our finances, I know I did not. Our financial knowledge and behaviors are affected by the people we are surrounded by. What we learn about finances during adolescence will affect our future financial behaviors. In a study conducted across multiple locations, Dr. LeBaron-Black and other researchers studied how parents, peers, employment, and media impact financial habits. Which one do you think has influenced you the most? In the study, they found that parents had the greatest influence on financial behaviors.[1] They also found that learning about money from parents and employment helped emerging adults develop good financial habits, while learning about money from peers and media encouraged bad financial habits.

Joining your life with another person through marriage comes with many challenges such as raising a family, dealing with in-laws, or potential snoring—to name a few. Adapting to your partner’s financial habits and values is no exception. Trying to understand and compromise on finances is a daunting task, especially since finances seem to affect every aspect of our lives: where we live, what we eat, what we wear, and what we do.

Couples experience conflict about various topics, from work-life balance to sex. Amidst these heated debates, there is one topic that consistently appears as a common ground for disagreement and a powerful emotional trigger: money.[1] It is common knowledge that finances can affect relationships. This is more relevant than ever today as financial stress is at its highest level in nearly a decade.[2] Whether you are dating, married, or cohabiting, financial satisfaction can have an impact on your relationship satisfaction. Dr. Casey Totenhagen and colleagues put this to the test, conducting research where couples recorded how they felt financially (like what do you feel is the level of your financial stress today?) and relationally (like how satisfied, content, and happy are you with your relationship?) every day for two weeks.2 It is no surprise that as financial satisfaction fluctuates, so does relationship satisfaction. To add to this, gender also has an impact! So, what does all this mean for you and your relationship? Let’s get into more specifics!

The Jewish community has beautiful cultural practices and rituals that we can all learn from to foster positive outcomes in life, marriage, and parenting.[1] One example of these practices is the observance of Jewish Shabbat, or Sabbath (taking place from sundown on Friday to sundown on Saturday). During this time, families can connect as they eat together as a family, receive blessings, or find time to prepare traditional foods together. Dr. Heather Kelley, Dr. LeBaron-Black, and their colleagues have found that this observance can bring family members closer together as it “fosters a sense of duty and unity” in the home.

Figuring out finances can create challenges, and we are here to provide some information that could be helpful for you! In simple terms, the study The Effect of Households’ Student Debt on Life Satisfaction led by Dr. Thomas Korankye[1] shows that having student-loan debt harms how satisfied people feel about their lives. Even though taking on debt is often seen as an investment in the future, it can make people feel less satisfied with their lives until the debt is fully paid off.

In their recent article, Couple-Level Attachment Styles, Finances, and Marital Satisfaction: Mediational Analyses Among Young Adult Newlywed Couples, Dr. Xiaomin Li and colleagues analyzed how relationships, finances, and attachment styles interconnect.[1]

According to personal finance expert Rachel Cruze, “Money and marriage should go hand in hand.” Unfortunately, Cruze has also asserted that money is the number one topic that married couples argue about and the second cause of divorce behind infidelity.[1] With the significant impact of money on marriage, is there any good news for couples experiencing financial stress? Gratefully, yes!

A credit score can be a dreaded 3-digit number that could be the key to either opening our doors or locking us in. Credit scores play a crucial role in all major financial crossroads including, but not limited to, (1) buying a house or a car, (2) taking out student loans, or (3) qualifying for that awesome rewards credit card you want. But can your credit score’s influence leak into other parts of your life? Research by Matthew Saxey, Dr. LeBaron-Black, and others would say yes![1] It turns out that the quality of your credit score may impact your romantic relationship in unexpected ways, including financial self-efficacy and financial deception.

In a recent article, Dr. Ashley LeBaron-Black and colleagues[1] explored the association between parental financial education during a child's upbringing and the financial wellbeing of those children as they transition into emerging adulthood.   

If you’ve read anything on this website, you’ve learned that parents have a significant impact on their child’s thoughts, beliefs and behaviors surrounding money. Even emerging adults report how their parents’ actions are still impacting them. A recent study[1] by Dr. Joyce Serido and other researchers focused on how emerging adults retrospectively viewed how they were parented and how it affects their financial habits and personal wellbeing in their first year of college.