Debt Reduction Tactics And Home Finance Ideas

Financial Health For Couples

A new Harris Poll commissioned by lawyers.com and Redbook
magazine shows the following regarding Financial statisitcs
for couples.

One out of every three U.S. adults ages 25 to 55 in a
relationship made false statements to his or her partner about
the financial spending.

24 percent of those in a relationship claim that honesty about
finances is more important than honesty about fidelity.

72 percent say trust is essential to a successful romance.

Financial deceit is topping the list of infidelities.



33 percent women keep financial information from partners.

26 percent men keep financail information from partners.



It seems to be easier for women to cover up those secret
purchases or past due bills.

Women are more likely to be in charge of the household financail budget.

41 percent of women are responsible for the budget.

21 percent of men are responsible for the budget.

Couples are maintaining separate banking and credit card
accounts, which increases the risk of deceit.

Attorney Alan Kopit, lawyers.com's legal editor, stated in a
news release announcing the survey results. "Couples need to
establish a financial plan and have open communication about
their financial situation. The results of dishonesty can not
only result in an emotional disaster, but legal complications
as well."

One partner's hidden spending can lead to credit problems that
affect both partners.

Without complete financial disclosure, it can be difficult for
couples to create effective long-term financial plans.

If cash concerns are causing arguments between couples, it is
usually over:

Personal Purchases : 50 percent

Overall household budget: 45 percent

Credit cards: 32 percent

Children’s items, such as clothing and toys: 26 percent

Discretionary spending: 20 percent

"Women are earning more than ever, but our poll shows that
major family money decisions still tend to fall to men," stated
Alison Brower, Redbook's executive editor. "So women are
contributing in greater amounts, yet they may not have an equal
voice. Over time, this can breed resentment and lead to secrets
and lies that can sabotage couples emotionally and
financially."

Kopit stated, "Many couples find talking with an objective
professional--like an attorney or accountant--is a great way to
start having honest financial discussions, which is the first
step to ensuring a couple is on solid financial footing," Kopit
stated.

posted by Bryon Zirker @ 12:48 PM