Love and Money – Who Pays?

What happens when the awkwardness of a first date and the discomfort of deciding how to handle a shared bill meet?

It depends on who you ask.

Welcome to Talking Taboo, a brand new video series where I talk real money with real people in real life situations.

First up, Love and Money – Who Pays?

It might seem like a relatively innocuous question, but when you consider the fact that money is the leading cause of stress in relationships, and arguments about money, a leading cause of divorce, it becomes clear how high the stakes surrounding our personal stances on this subject can be.

So let’s talk it out in this premiere episode of …

Talking Taboo: Love and Money – Who Pays?

Talking Points: Love and Money – Who Pays?

 

Still unconvinced of the significance of frank financial discussions in your romantic relationships? Check out these stats and expert insights on love and money. If broaching the subject is a struggle for you, feel free to use these as talking points to kick-start your own taboo talk….

  • 58 percent of men spend over $ 50 on a date during the initial weeks of dating (source)
  • 65 percent of women spend over $ 50 to get ready for a date (source)
  • One in 5 Americans in a relationship say they have spent $ 500 or more and not told their partner. (source)
  • 6 percent of Americans maintain secret accounts or credit cards. (source)
  • Men are more likely than women to have secret credit cards or bank accounts and to spend big money without telling their partners. (source)
  • “Arguments about money [are] by far the top predictor of divorce. It’s not children, sex, in-laws or anything else. It’s money — for both men and women.” Sonya Britt, assistant professor of family studies and human services and program director of personal financial planning at Kansas State University (source)
  • Estimates on the average cost of a divorce in the U.S. range from $ 15,000 to $ 30,000. (source)
  • 54.8 percent of Americans are expected to celebrate Valentine’s Day this year (2016), spending an average of $ 146.84 each. (source)

I’d love to hear your thoughts on Love and Money – Who Pays in the comments, and/or on Facebook, Twitter or Instagram. Be sure to use the hashtag #talkingtaboo! And if you’re not yet subscribed to the YouTube channel, click here to stay up to date on all the Talking Taboo episodes still to come!

More on Talking Taboo …

44 percent of Americans report that a discussion of their personal finances is the most difficult conversation they can have – beating out hot-button topics like religion, health, politics and even death.

Unfortunately, this money taboo can have a severely negative impact on our quality of life. Without an open dialogue surrounding our finances, both financial needs and struggles are often left unaddressed – the resulting cost of which can be astronomical.

The stakes are high and the prevailing response of silence doesn’t serve any of us.

Let’s dive in and engage with our finances, not only privately on our own, but also publicly with one another.

Let’s start #talkingtaboo!

This article by Stefanie OConnell first appeared on Stefanie OConnell and was distributed by the Personal Finance Syndication Network.

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