Are you comfortable talking money? I am always open about personal finance but I think I am unusual as many are not so at ease discussing money. However, you’d hardly have a personal finance blog if it was a subject that you are not comfortable with!
Interestingly I do have quite a different approach to my husband Lee who is much less conversational about money which is surprising as we actually have pretty much the same values about money.
Lee and I met at University over twenty years ago when we had very little money but we managed without getting ourselves into debt. We then went on and had Chloe within a year of graduating which was very financially challenging, we literally counted pennies because Lee was doing his PGCE and studying still.
During our first few years together we were very much on the same page about money from the start. We had the same attitude and I think this is partly due to how we were bought up. Our parents are similar ages and have all been very good role models financially.
Ferratum have conducted research into the important matters of love, from the early dating stages to the serious stuff. We are hoping that it helps women and men understand how the other view the importance of a first date, the first time finance is brought up in a relationship and how to approach financial issues when together.
I don’t remember having any big conversations about money apart from deciding how to split the rent and bills during our first renting. We have always just carried on with having our own bank accounts and we both like having that financial independence that we have our own money and accounts.
The infographic below has some interesting findings:
46% of men would also be fine with sharing details of their personal spending habits, whereas 68% of women keep their lips sealed. Now this one I can agree with because I am not always upfront about my personal spending but only because Lee doesn’t really want to know!
However, on the big stuff, we do share details. The stat on men being happy to chat about salary more than women didn’t surprise me and I wonder if that is part of the bigger picture on the gender pay gap. I also feel happier discussing salary with women rather than men.
This research into how couples manage and talk about money is really fascinating and it is definitely something I would encourage new couples to discuss. It is really important to have the same financial values.