There may be a connection between how much a couple spends and saves and how happy they are in their relationship, according to a new study from the University of Georgia.
The researchers found spouses who see their partners as “savers” tend to be more satisfied with both their marriages and their finances.
“Across the board, couples in which partners viewed each other as savers (rather than spenders) reported higher levels of marital happiness and financial well-being,” said Jamie Lynn Byram, lead author of the study and a lecturer in the UGA College of Family and Consumer Sciences. “They felt they had enough money for what they wanted and felt they were meeting goals together when their partner was focused on saving for their future.”
Perceptions matter more than reality in spending habits
In a survey of more than 100 Georgia couples, the researchers separately asked husbands and wives about their spending and saving habits, income and how happy they were with their finances and marriage.
They found that each partner’s perception of these things was more important than how their finances actually were. That was especially true with saving.
For example, if a couple was spending more than saving, but the partner felt they had actually done a good job at saving or were told that saving was happening, they were more pleased.
Spouses were less concerned with their own spending habits and instead derived satisfaction from their partners’ patterns.
“Perceptions matter more than reality,” said John Grable, co-author of the study and Athletic Association Endowed Professor of Family and Consumer Sciences. “We see that financial satisfaction is deeply relational, influenced less by what partners do and more by how actions are perceived.”
Saving makes one partner happier than the other
While couples felt most content when they felt their partner was a saver, what made each spouse happy varied by sex.
When a wife called herself a spender in the survey, it was because she felt comfortable with the couple’s finances. In turn, her contentment made her husband feel more confident in their marriage.
Wives reported more satisfaction, however, when they saw their husbands as savers.
“Each person’s happiness is separate. So, if she says she loves to spend, his marital satisfaction increases because he feels like he provided enough money to where the woman could say she’s a spender,” Byram said. “For the wife, if her husband is saving, it says to her that he is committed to their financial future.”
Money habits don’t just shape household budgets; money behaviors also shape how couples feel about their relationships.
John Grable, College of Family & Consumer Sciences
Still, each person’s overall rating of their relationship was tied closely to the other’s behavior.
“Based on the research, we can say that money habits don’t just shape household budgets; money behaviors also shape how couples feel about their relationships,” Grable said.
Although finances are a challenging topic at times, talking about money is beneficial for every couple, the researchers said.
“Communication is the foundation for having healthy relationships with money,” Byram said. “If you understand one another, then you’re going to have empathy for one another. And when financial things come up, you’ll have more of an understanding of why your partner reacted the way they did.”
The study was published in the Journal of Financial Counseling and Planning.