US: Money is The Biggest Point Of Contention In Relationships, New Survey Shows
Today in “completely healthy relationship behavior”, it’s being reported that many Millennials and Gen Zers are now doing research on their dates to try and ascertain how much money they make while they’re dating them.
The revelation comes as part of a Bloomberg wrap-up of a Credit Karma study that highlighted the fact that young people in relationships are fighting about money more than any other topic.
About 33% of people who responded to the survey said they had ended a relationship over money and more than 40% said they fight about finances on a monthly basis, the report said.
Money becomes a point of contention in relationships more so than spending time together, chores or intimacy, the report says, noting that “red flags” around money include one person expecting the other to pay for everything and reckless spending.
Brittany Wolff, founder of Wolff Financial in South Carolina says arguments about money aren’t necessarily a bad thing and can lead to both people being more transparent about their financial situations and feelings. She says couples should have a “money date” regularly where they can sit together and talk about their financial goals.
Dan Slagle, founding partner of Fyooz Financial Planning, adds that the date should be in a “neutral location” and offers up the perfunctory advice that “Making it fun can help keep conversations light and productive”.
Right. And we guess how well you’ve been earning determines exactly how the end of the date goes…
Meanwhile, 35% of Gen Z and 25% of Millennials said they research the job of the person they are dating to estimate how much money they make, the report says.
Brandon Gregg, financial advisor at BBK Wealth Management in Indiana, concluded: “Problems around money are going to happen — it’s a part of life. When they do, make sure that lines of communication are open. Taking the steps to understand each other’s values and communicating regularly early on will lessen the issues.”
