Want a long, happy marriage? Merge your bank accounts!
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Do you want a long, happy marriage? Merge your bank accounts! Couples who share finances have ‘significantly’ better relationships, research shows
- Couples with a joint bank account have better relationships
- They also fight less about money and feel better about how finances are handled
The Beatles sang the famous ‘Money can’t buy me love’.
But couples who manage their finances together may love each other longer, according to new research.
A study has shown that married couples who share a joint bank account not only have better relationships, but also argue less about money and feel better about how household finances are managed.
Researchers recruited 230 couples who were engaged or newly married, and followed them for two years as they began their married life together.
Everyone started the investigation with separate bank accounts. Some couples were instructed to keep their separate accounts, and others were told to open a joint account instead.
Couples who manage their finances together may love each other longer, according to new research (stock image)
A third group was also allowed to decide for themselves.
Analysis showed that couples who opened a joint bank account reported significantly higher relationship quality two years later than couples who had separate accounts.
The scientists said pooling funds means couples are more aligned with their financial goals and more transparent with each other.
It also leads to a “common understanding of marriage” — when partners respond to each other’s needs — they said.
Meanwhile, couples with separate accounts viewed financial decision-making more as an exchange, and may think it’s easier to leave the relationship, they suggest.
About 20 percent of participating couples did not complete the study, including a significant percentage of those who separated after failing to merge bank accounts.
Author Jenny Olson, from Indiana University’s Kelley School of Business, said: ‘When we surveyed people with different relationship lengths, those who had merged accounts reported higher levels of commonality within their marriages compared to people with separate accounts, or even those that were partially merged. their finances.
Scientists said pooling funds means couples are more aligned with their financial goals and more transparent with each other (stock image)
“They often told us that they felt more like they were ‘in this together’.
“This is the best evidence we have yet for a question shaping the future of couples; and the fact that we’re seeing these meaningful shifts over two years, I think it’s pretty strong evidence of the benefits of merging.
“On average, merging should warrant a conversation with your partner given the effects we’re seeing here.”
The findings were published in the Journal of Consumer Research.