You’ve probably heard that love can change you—but did you know it can also change your money habits? That’s exactly what Dr. Joyce Serido and her colleagues sought to find out. Over four years, they followed college students to see how the people closest to them—parents and romantic partners—shaped the way they thought about and handled money.1 In this article, I’ll break down what the study discussed, why these findings matter, and how you can use them to improve both your money habits and your relationships.
It turns out, relationships really do matter when it comes to students’ money management. The study found that both parents’ and romantic partners’ financial decisions influenced the way students handled their own money.1 For some students, parents have taught you the basics—like saving up for a car or not blowing your paycheck right away. These early experiences build the foundation for how young adults think about and interact with money. As students enter college and begin managing more of their finances on their own, those early habits and mindsets tend to follow them.
Serido found that your romantic partner might have a bigger impact on your financial decisions while you’re in college. While parents set the stage, romantic partners often shape day-to-day financial decisions in real time. If your partner is frugal, avoids impulse purchases, or sticks to a budget, you’re more likely to adopt similar behaviors—sometimes without even realizing it. Being in a close relationship creates a shared financial environment, where attitudes toward spending, saving, and planning start to align. This dynamic makes romantic relationships a powerful part of financial socialization during young adulthood.
Over the course of four years, Serido’s study found that close relationships—especially with parents and romantic partners—play a powerful role in shaping how young adults learn about and manage money, a process researchers call financial socialization. Throughout college, students aren’t just learning from textbooks; they’re learning from the people around them. From an early age, the way we see our parents talk about, manage, and even stress over money begins to shape our own financial habits. Whether it’s watching how bills are paid, hearing conversations about saving for the future, or picking up unspoken attitudes about spending, these early family experiences quietly lay the foundation for how we handle money as adults.3 Romantic partners play a growing role in this stage of life as money habits merge within the relationship. By understanding how these relationships influence financial decision-making, we can rethink how financial education is delivered to college students—making space not just for technical skills, but for conversations about how love, trust, and communication shape our money habits. When students recognize these relational influences, they’re better equipped to build both healthy financial practices and healthier relationships.
Takeaways
● Recognize the Influence of Romantic Partners.
As you go through college, your romantic partner can shape how you think about and handle money. Talking openly about money can strengthen your relationship and help both of you make wiser financial decisions. Try discussing things like how you each feel about spending vs. saving or what financial goals you have for the future. Even planning how to split costs for a date can build financial trust and understanding.
● Build on Parents’ Financial Foundations.
Your parents probably taught you some of your first money lessons—like saving up for something you wanted or understanding the value of a dollar. But those conversations don’t have to stop now that you’re becoming financially independent. Keep the dialogue going! Ask your parents how they budget or what they wish they’d done differently. Their experience can help you make smarter choices, and staying connected can make managing money feel a lot less overwhelming.
References:
1Serido, J., Curran, M. J., Wilmarth, M., Ahn, S. Y., Shim, S., & Ballard, J. (2015). The unique role of parents and romantic partners on college students' financial attitudes and behaviors. Family Relations: An Interdisciplinary Journal of Applied Family Studies, 64(5), 696–710. https://doi.org/10.1111/fare.12164
2 Xiao, J. J., Chen, C., & Sun, L. (2015). Age differences in consumer financial capability. International Journal of Consumer Studies, 39(4), 387–395. https://doi.org/10.1111/ijcs.12205
3Gudmunson, C. G., & Danes, S. M. (2011). Family financial socialization: Theory and critical review. Journal of Family and Economic Issues, 32(4), 644–667. https://doi.org/10.1007/s10834-011-9275-y