“To Each Their Own”: Comparing Satisfaction, Money Management, and Financial Communication Across Couple Types

Abstract

Negative outcomes associated with poor money management and financial communication prompt research that provides fresh theoretical perspectives with the ultimate goal of providing concrete advice to both couples and practitioners. Contributing to scholarship regarding finances in committed relationships, the current study examined connections among relationship satisfaction, financial management, and financial communication. Results demonstrated positive associations between: (a) relationship satisfaction and financial management as well as (b) relationship satisfaction and financial communication. Further, utilizing Fitzpatrick’s (1988) couple types, the investigation tested whether or not the typology explained differences in individuals’ and dyads’ relationship satisfaction, financial management, and financial communication. Regarding differences based on dyads’ types, Independent couples reported lower levels of relationship satisfaction than Traditional/Independent, Independent/Separate, and Traditional couples. As far as financial communication, Independent couples reported lower levels of communication than Traditional and Traditional/Separate couples. Second, concerning differences based on individuals’ couple types, Traditionals reported higher levels of satisfaction (low conflict and high stability) than Separates as well as higher levels of financial communication than Independents. Separates also reported higher levels of financial communication than Independents. Overall, findings of the study highlight the importance of productive financial management and communication in sustaining satisfying relationships. Finally, results indicate that couple types account for some differences in relationship satisfaction and financial communication; however, future research should continue to explore this phenomenon, particularly because of the profound impact of money on committed relationships.