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Americans: Forget the look, show me the money

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Staff 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.
Rich
Study   A new survey sponsored by Citi
A new survey sponsored by the Citi Double Cash card, the card that lets you earn cash back when you buy and pay for purchases, reveals insights from American couples on the two sides to how they manage money.

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.


 

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