Files
Abstract
The three essays in this work examine different aspects of the financial management practices of couples. Data were obtained from an online survey administered and owned by a private firm. The first study examined whether agreement between partners about financial behavior and shared responsibility for financial matters is associated with choosing to fully integrate household finances as opposed to keeping some or all finances separate. Participants who reported agreeing on issues related to spending were more likely to combine their finances compared to those who did not agree with their partner on issues related to spending. Two income earner households were less likely to manage finances jointly than households with one primary income earner; however, the division of responsibility for financial decisions and management does not appear to be associated with financial integration style. Overall, findings from this study suggest that one aspect of a couple’s finances being combined or handled jointly does not necessarily mean any or all other money management aspects will also be handled in a joint or combined manner. The second study investigated whether a couple’s division of financial responsibilities and agreement on spending and saving behavior are associated with financial satisfaction. Partners who reported fully combining their finances with their significant other were significantly more likely to be financially satisfied, as were those who exhibited higher levels of agreement on issues related to spending money and issues related to saving money. Exhibiting higher levels of agreement on spending money appeared to be more important in terms of financial satisfaction compared to having higher levels of agreement on saving. The third study presents a reliable (α = .932) seven-item scale, the Spender-Saver Perception Scale, and describes the validation process. The scale measures how a romantic partner’s financial behavior is perceived on a continuum from spender to saver. Research participants who perceived their significant other to be more of a saver than a spender were found to be more likely to be satisfied with their current financial situation compared to research participants who perceived their partner to be more of a spender than a saver.