Dear Readers: If I were to ask couples to name the top three things that keep them together, I don’t imagine that shared knowledge and interest in their finances would make the list. Yet money is often cited as one of the main causes of divorce. A recent survey by Policygenius found that 1 in 5 people say their partner is financially irresponsible. And these people are over 10 times more likely to break up over money issues than people who say their partner is good with money.
I always recommend that couples get to know each other financially at the beginning of their relationship, but that really is just the start. A relationship can be a lifelong journey, and your financial togetherness is an important part of it. There are bound to be gaps in each partner’s financial attitudes and know-how, so, to me, it’s essential for every couple to not only discuss their priorities but also increase their financial knowledge along the way. Because financial literacy is also a lifelong journey.
I’ve had the opportunity to talk to a few couples lately whose own experiences demonstrate how being financially aware and informed can bring people closer together. I thought you might be interested in their stories. (Of course, I’ve changed their names.)