Financial Satisfaction: The Role of Shared Financial Responsibilities and Shared Financial Values Among Couples

Authors

  • Michelle Kruger University of Georgia
  • Lance Palmer University of Georgia
  • Joseph Goetz University of Georgia

DOI:

https://doi.org/10.61190/fsr.v31i4.3341

Keywords:

Financial Satisfaction, Couples Satisfaction, Financial Management, Spending Behavior

Abstract

Managing shared finances is an important aspect of a romantic relationship, and satisfaction with one’s financial situation depends on a complex host of issues, including decision-making dynamics and resource sharing. This paper provides insight into this relationship by reporting the results from a study designed to provide evidence of an association between couple’s shared financial decision-making behavior and their financial satisfaction. Using a sample of 602 individuals in a committed romantic relationship, this project evaluated how couples’ division of financial responsibilities and agreement on spending and saving behavior affected their perceived financial satisfaction. Results of the analysis indicated that the way household finances were shared was associated with perceptions of financial satisfaction. Specifically, those who reported combining their finances with their partner were more financially satisfied. Couples who reported higher levels of agreement on spending were more likely to be satisfied with their current financial situation. Finally, couples with higher levels of agreement on saving were more satisfied financially.

Author Biographies

Lance Palmer, University of Georgia

Lance Palmer is a Professor in the Department of Financial Planning, Housing and Consumer Economics at the University of Georgia.

Joseph Goetz, University of Georgia

Joseph Goetz is a Professor in the Department of Financial Planning, Housing and Consumer Economics at the University of Georgia.

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Published

2023-12-31

How to Cite

Kruger, M., Palmer, L., & Goetz, J. (2023). Financial Satisfaction: The Role of Shared Financial Responsibilities and Shared Financial Values Among Couples. Financial Services Review, 31(4), 266–282. https://doi.org/10.61190/fsr.v31i4.3341

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Section

New Original Submission