Americans: Forget the look, show me the moneyStaff writer ▼ | February 6, 2015
There is more than one side to many things, including couples relationships with each other, and their approach to spending and saving.
Study A new survey sponsored by Citi
The research results underscore the importance of financial savvy – as more than three in four of Americans in a committed relationship (78%) prefer a partner who is good with money over one who is physically attractive.
Since becoming a couple, the majority of Americans (82%) who responded to the survey have changed their financial habits. Many of these changes were positive: 60% are more careful with their discretionary spending, and 50% are more focused on long-term financial planning.
More than half (67%) of couples overall have implemented strategies like maintaining an emergency fund (39%), establishing a monthly saving goal (24%), and setting gift-giving budgets (24%).
Survey respondents said that they share 82% (on average) of their financial life with their significant other, including salary, debts, credit score and personal spending. Another 88% of couples have complete access to at least one of their partner’s accounts.
However, one in four (25%) said there are some things they would never share with their significant other – like their monthly spending, bank account PIN, and their account balance.
Survey respondents were more likely to give themselves financial credit. The majority (67%) claim that they handle most or all of the couple’s finances and 66% have labeled themselves the saver in the relationship. ■