Lots of people who are in relationships find money to be a tricky subject and a new survey by financial experts Satsuma have uncovered that money is the biggest cause of arguments for couples living together in Yorkshire.
The data reveals the biggest arguments couples have over finances and takes a look at the reasons behind these gripes and reveals top tips on how you and your partner can avoid financial disagreements.
- Not being organised with money (32%)
- Fighting over how much each should pay (32%)
- Fighting over who used more or less of a billable item (29%)
- Fighting over who pays which bill (25%)
- Fightin over the other person wasting money/frivolous spending (19%)
The biggest arguments over finances in Yorkshire uncovered!
Couples in Yorkshire who are planning on moving in together within the next year are seen to plan finances. When asked how do you think you and your partner will share the finances the results show that one person will pay all the bills and their partner will transfer the money owed.
This can instantly spark trouble in a relationship as you can feel like you are in debt with your partner and the responsibilities are all down to one person. The experts reveal that a much more convenient and sensible approach would be to set up a joint bank account, this is designed to let couples manage their finances together. Combining your finances in this way can make regular bills, saving or other costs much more straightforward!
How couples in Yorkshire will be splitting the bills:
- I will pay the bills and they will transfer money to me (33%)
- We will create a new bacnk account and split 50/50 (29%)
- They will pay the bills and I will transfer money (23%)
- We will each be responsible for certain bills (8%)
Top tips to avoid arguments over money:
1. Share the financial tasks
When it comes to responsibilities with finances, couples very rarely share all jobs. To avoid conflict over money roles try trading the financial tasks back and forth. One month you might take control over household spending and budgeting and your partner might focus on savings, then the next month swap tasks. This is an excellent way for both to oversee all tasks, have control and to equally share the work load.
2. Be a team
An option is to do the finances together, set up time each month to sit down and pay the bills and discuss investment and saving plans. Then you could try and do something fun afterwards to turn this into a money date, a great way for this to feel less like a chore and to avoid a negative outlook on finances.
3. Seek professional help
It is possible for you and your partner to be having the same argument again and again each month. There are plenty of psychologists and or financial advisers out there that specialize in dealing with these issues, and can help you and your partner to learn healthy ways of how to deal and communicate over money in the future.
For further information around this topic, please see the Moving in reality campaign.
"Do the finances together, set up time each month to sit down and pay the bills and discuss investment and saving plans."
Financial experts, Satsuma Loans
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