Research Shows Sharing a Bank Account Can Help Your Marriage
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Love don’t cost a thing, per the J.Lo tune — but when it comes to finances in relationships, it may serve couples well to embrace a cooperative approach.
In a recent Indiana University Kelley School of Business study, researchers found evidence suggesting that merging bank accounts has a positive effect on relationship quality. Couples in the study also fought less about money and felt better about their household financial strategies.
What the research says
The researchers randomly assigned 230 engaged or newly wed couples with separate bank accounts into three groups. One was asked to combine their finances into a joint account, the second was told to keep their money apart, and the last group wasn’t given any instructions. (Most of the pairs who weren’t given directions kept their bank accounts separate.)
