One-third of couples report that money is a huge source of conflict in their relationship but, while fighting about money may be common, the source of the tension can be varied – making it difficult to find ways to resolve the conflict.
An article from Graig Torr explores the different reasons why couples fight about money. These include different money expectations, financial infidelity, previous financial commitments, outside interference, the decision on joint or separate money management, no common set of goals, income disparities, the way individuals cope with debt, and financial education.
Out of these, financial education is one very relevant reason for couples to disagree and fight. In fact, differing levels of financial education and literacy between partners can be a source of tension. It may be that one partner has a good understanding of how investments work, the dangers of debt, the power of compounding interest, the need for budgeting, and daily money management, while the other partner lacks basic financial literacy and/or shows little interest in learning about it.
Read the full article here.