We all know money is a big source of stress for many couples. But at Honeyfi, we wanted to know more about how exactly money affects relationships.
So we put together the 2018 Money and Your Relationship Survey, where we asked 500 Millennial couples — either married, engaged, in a civil union, in a domestic partnership, or dating and living together — about how they handle money and how that impacts their relationship. The results are fascinating.
We found that couples who regularly track and discuss a household budget are happier in their relationship, fight less about money, and have a better sex life. More specifically, the couples who reported regularly tracking and discussing a household budget were 51% more likely to report being “extremely happy” in their relationship, 14% less likely to report fighting about money at least once a month, and 37% more likely to report having a “great” sex life.
Here are a few more insights from our study, along with an infographic below:
-Couples talk about money a lot. In fact, 90% of the couples we surveyed discuss money at least once a month. 31% even talk about money every day and 72% talk about money at least once a week.
-Only 41% of couples regularly track and discuss a household budget.
-Of the couples we surveyed, 50% combine all of their finances, 30% combine some but not all, and 20% keep things separate.
-The couples who combine everything reported being “extremely happy” 63% of the time, compared to 43% of the couples who combine some but not all finances and 40% of the couples who keep things separate.
-There’s a better way. Honeyfi is a free app to help couples simplify their finances and spend mindfully together. Honeyfi makes budgeting easy by automatically suggesting a household budget based on your previous spending. You can edit your budget, create custom budget categories, and quickly compare your actual spending to your budgeted spending for each category. We built Honeyfi all couples. So you’ll always have full control over how much you share with your partner.
Also published on Medium.