Okay, a budget may not exactly add romance to your marriage, but it may help reduce marital money fights. A new national survey I commissioned from the market research firm Synovate found that married people who use a budget experience fewer financial disagreements with their spouse than those who don’t use a budget (see the news release here). And the more detailed the budget the fewer the financial fights.
And yet, just 12 percent of married people report using a detailed budget. I’m not suggesting that a ledger book would be a better gift this Valentine’s Day than a romantic dinner, but I am suggesting that working together on a plan for your money would be a good step for building a great marriage.
The survey also looked at some of the contributing factors behind financial disagreements, with respondents identifying temperament differences as a key issue.
Not surprisingly, couples with children at home are much more likely than those without children to experience financial disagreements. There is simply a lot more to spend money on when you have kids. The good news for all married couples is that financial disagreements seem to taper off the longer you’re married.