Marriage requires the sharing of many things. There is a shift from individual goals and mindsets to setting goals as a couple, a change in focus and a new pattern, strengthening and supporting each other, and everything in between. During this adjustment, financial questions are often top of mind. How should we handle finances? Who handles the budgeting, income, and savings? Is it one partner, both, or something in between? And is one way of approaching it better than another approach? These questions are similar to those asked by researchers who sought to better understand how financial management roles influenced couple relationships.1,2,3
Research on financial management approaches shows that couples who choose to have joint bank accounts, combining their finances and approaching their finances as a team, tend to enjoy better relationship satisfaction and financial satisfaction.2,3 However, it’s less about which system is “best” and more about whether both partners feel the arrangement is fair and aligned with their shared goals.
In one study, Dr. Kristy Archuleta found that couples who shared similar views on financial management roles within their relationships tended to report higher marital satisfaction.1 She also discovered that when couples perceived themselves as having similar financial goals and values, especially around money and autonomy, they were more likely to report higher marital satisfaction.1
In other words, agreeing on how to handle money and having shared financial priorities can influence how satisfied couples feel in their marriage. However, the interesting part was that both sharing views on financial roles and sharing financial goals had a greater impact on marital satisfaction than how couples communicated during conflict.1 How fascinating it that? Several studies have found that conflict communication is an important predictor of relationship outcomes, including marital satisfaction.4 However, Dr. Archuleta’s study found that sharing views of financial roles and sharing financial goals was even more important when it came to satisfaction in a marriage. This finding highlights that beyond just managing money, having aligned expectations and a shared financial vision are key to building marital satisfaction.
She also considered how various factors influence a couple’s financial satisfaction. Being satisfied with their financial roles was a more important predictor of couples’ financial satisfaction than the specific roles themselves. Couples who had higher levels of household income and were older were more likely to experience higher financial satisfaction. Additionally, Dr. Archuleta highlighted that both relationship and financial satisfaction increased after children left home. Children leaving might enable couples to fulfill their financial goals that seemed unattainable while children remained a significant economic burden—though undoubtedly also a major source of meaning and joy—in the home.1
Okay, I know that was a lot of research, but why does it matter? These findings emphasize the priorities couples should have in their relationship if they desire more satisfaction in their relationship and with their finances. These priorities include finding financial management roles that are satisfying to both partners and being on the same page about who does what when it comes to finances in a couple's relationship. Additionally, couples should prioritize healthy financial communication, identifying shared goals and values. Financial and marital satisfaction could increase as couples seek to improve these areas of their relationship.
Takeaways
1) Clarify financial roles together. Decide who manages what (budgeting, savings, bills, etc.) in a way that feels fair and satisfying to both partners. Make sure to practice principles of equal partnership when it comes to financial decision-making.
2) Align on financial goals and values. Have open, candid talks about money priorities (retirement, spending, giving, etc.) so both partners can be on the same page.
3) Invest in shared satisfaction, not just income. While increased income and age can contribute to both financial and marital satisfaction, couples can also benefit from intentionally creating role transparency and a shared economic vision.1
4) Focus on agreement over particulars…but consider integrating your finances. Archuleta’s study found that relationship and financial satisfaction come less from the specific way couples choose to manage their finances and more from being united in how money is managed.3 However, it can also be helpful to know that several studies have found that couples with joint bank accounts and integrated finances tend to have better marriages and greater financial well-being.
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1Archuleta, K. L. (2013). Couples, money, and expectations: Negotiating financial management roles to increase relationship satisfaction. Marriage and Family Review, 49(5), 391–411. https://doi.org/10.1080/01494929.2013.766296
2Kruger, M., Palmer, L., & Goetz, J. (2023). Financial satisfaction: The role of shared financial responsibilities and shared financial values among couples. Financial Services Review, 31(4), 266–282. https://doi.org/10.61190/fsr.v31i4.3341
3Addo, F. R., & Sassler, S. (2010). Financial arrangements and relationship quality in low-income couples. Family Relations, 59(4), 408–423. https://doi.org/10.1111/j.1741-3729.2010.00612.x
4Greeff, A. P., & de Bruyne, T. (2000). Conflict management style and marital satisfaction. Journal of sex & marital therapy, 26(4), 321–334. https://doi.org/10.1080/009262300438724