A recent study claims couples who have joint accounts will have a long lasting relationship. The data says these couples usually creates these accounts before getting married.
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The study was conducted by Cornell University and University of Colorado who found that couples who decide to have joint bank accounts are much happier together than those who have separate accounts. Their findings also revealed that the same couples spent their money in a similar manner. “They’re more satisfied in those relationships. But they also spend money differently, in that they tend to spend more on sensible, utilitarian stuff and less on hedonic, kind of fun stuff, “ said Joe Gladstone, assistant professor of marketing at University of Colorado.
He also explained to Yahoo! Finance that many couples decide to have a joint bank account before getting married so it’s not an inconvenience. “I think what the interesting part here is that when couples decide to pool their finances, they’re probably not thinking about what effect that’s going to have on their happiness, right? They’re thinking, ‘I want to pool money because it’s convenient or because we’re getting married and this makes a lot of sense,’ he added.
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Gladstone said there could be a downstream consequences to happiness but the significant decision can create a more reliable and long lasting relationship. However, he does say that there are other factors that contribute to a long lasting relationship.
“Things like how interdependent you feel with each other, how much you rely on each other, things like income also predicts relationship satisfaction, because you’re not stressed and arguing about money,”
Social media recently had a debate about joint accounts and splitting money 50/50
After Glorilla expressed her thoughts about splitting bills with a partner, social media users had different opinions about managing money with your significant other. Some believed you have to be married first to have a joint account while others say its important to have your own account and work things out with your partner to see how they can manage their funds.