Managing financial challenges can feel stressful for many couples. But recent
research from the Cornell SC Johnson College of Business shows that transparent, collaborative financial habits can build trust, reduce anxiety and strengthen commitment for long-term romantic partners.

“There are many positive effects to being open to talking about money, not just for your relationship, but also for yourself,” said Emily Garbinsky, associate professor of marketing and behavioral scientist at the Samuel Curtis Johnson Graduate School of Management. “Financial transparency can increase satisfaction with the relationship, but it can also increase individual well-being.”

Recurring financial date nights

Money can be a fraught topic, so many couples skirt financial conversations — yet a study by Garbinsky and co-authors shows that talking about money is correlated with less financial anxiety.

Setting a recurring date each month or quarter is an easy way to ensure these conversations aren’t put off, Garbinsky said. She also suggested bringing a financial advisor into the mix; they can act as a neutral mediator or simply hold partners accountable.

“I can't tell you how many horror stories I've heard of couples where one person manages all of the money,” Garbinsky said. “When something unexpectedly happens to that person, the other person has no idea where their money is, the passwords to access it, or what bills need to be paid.”

Read the full story on the Cornell SC Johnson College of Business website.

Nina Collavo is a staff writer at the Cornell SC Johnson College of Business.