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

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.