Significance

• People who are married or are in a committed partnership who act as financial partners, do better financially, according to Washburn and Christensen. When there is conflict in the relationship, it is largely because of financial reasons, according to a two-year study conducted by Schramm, Marshall, Harris and George in 2003. In fact, 93 percent of people surveyed listed financial problems as being one of the top two issues that cause conflict. Yet, the survey also found that couples are reluctant to receive financial counseling.
  
  

Considerations

• The Consumer Credit Counseling Service notes that financial problems can be so stressful that they can lead to divorce. Couples in the early years of a marriage or relationship are the most susceptible to getting into arguments about money. Because money is such a personal issue, many couples never discuss their feelings and ideas regarding finances prior to entering the relationship. Many couples find money harder to discuss than sex.
  
  

Effects

• Some people are spenders, while others are savers. Most people pick up their traits about money in childhood. If couples never communicate their thoughts about money, conflict is likely to arise. Acknowledging your differences is a start when couples enter into financial counseling. Whether you have joint or separate accounts isn't as important as the ability to sit down and discuss your financial issues together, according to Washburn and Christensen. When you act as a team regarding your finances, you will tend to have a happier relationship.
  
  

Features

• How much money you have is not as big of an issue as in how you manage what you do have, say Washburn and Christensen. Typical areas of discussion for couple's financial counseling include deciding who will earn the money (one of you or both of you), how you will spend your money, who will manage the daily checkbook, how you both feel about credit and how much you should be saving. Washburn and Christensen point out that you should also talk about buying versus renting your home and what you consider community property versus property that is solely your own.
  
  

Prevention/Solution

• The Consumer Credit Counseling Service advises couples to talk about money. Washburn and Christensen say that sessions typically start by couples telling each other how their parents handled the money while they were growing up. Counselors may advise that couples talk about how they view money today. Keeping financial secrets from your partner can lead to trouble, point out Washburn and Christensen. If you lie about how much you put on your credit card or have a hidden account, this will probably only undermine your relationship.