Common wisdom tells us that the partner who is most knowledgeable about money becomes the money manager. Sounds logical.But that’s not what researchers Adrian Ward and John G. Lynch both psychologists and marketing professors found.Examining 313 couples early in their relationship, they asked about financial literacy, credit score, income, and time spent on household work.…
Category: money and marriage
Till College Debt do We Part
“Marriage can change everything for couples– in some cases even their student-loan payments” writes Cheryl Munk for The Wall Street Journal. The media has educated us about the high costs of attending college and the massive student debt load facing many millenials and their parents. Often house buying, procreation and investing for retirement are delayed…
Want to buy happiness?
Ross Menke’s five strategies:1. Help others,2. don’t let special treats become routine,3. favor experiences over possessions,4. hire others to do chores you hate, and5. pay now but consume later.Read Jonathan Clements’ advice at https://humbledollar.com/2019/01/spending-happily/ Source: Financial Planning for Women
Should newlyweds have joint financial accounts?
I used to tell my students that they should share credit reports with any partner they are considering marrying or entering into a long-term relationship. With vehicle and student loan debt so high, you don’t want to be surprised when your financial plans are upended by a spouse’s high debt or bad credit. Whether a…