Relationship Intimacy Being Crushed by Financial Tension: AICPA Survey (2024)

FAQs

How does financial instability affect relationships? ›

The effects of financial stress

It can also lead to physical health problems, such as high blood pressure and heart disease. In relationships, financial stress can create tension and disagreements. Couples may argue about spending habits, budgeting, and debt.

PAIR, acronym for Personal Assessment of Intimacy in Relationships, was developed as a tool for educators, researchers and therapists. PAIR provides systematic information on five types of intimacy: emotional, social, sexual, intellectual and recreational.

Our survey results suggest that for most, finances and relationships aren't completely separate entities. Almost nine in ten respondents (89%) said that financial stability was necessary for a happy and successful relationship, while only 11% said it was not.

RED FLAG #1: Refusal to talk about money.

If a relationship partner refuses to talk about money, it's a red flag that they might be hiding important information that could affect the other partner's financial well-being.

Love and money are often a volatile mix that makes or breaks a relationship, according to a survey from the Institute for Divorce Financial Analysts, with “money issues” being one of the leading causes of divorce.

If your partner has a lot of debt, it can affect your financial future together, and it's crucial to discuss how you'll handle it together. However, if you're just starting to date it might be considered a big red flag.

Financial infidelity happens when you or your spouse intentionally lie about money. When you deliberately choose not to tell the truth about your spending habits (no matter how big or small), that is financial infidelity.

What are the four intimate relationships? ›

In relationships, four types of intimacy are key: emotional, physical, mental, and spiritual. If you feel you fear intimacy of any type, or your loved one does, seeking the support of a therapist may help you.

The Five Types of Intimacy. While there are many ways to describe intimacy, we generally define it across five dimensions: physical, emotional, intellectual, spiritual, and social.

Avoid the blame game – instead, try to tell your partner that this conversation isn't about who's good and bad with money, but how you can achieve your goals together. This is particularly important if you don't want your partner to feel judged for their spending habits.

'It's almost not fair to split finances 50-50'

For example, one partner may be saddled with student loan or credit card debt while the other partner is not. The latter may have the financial strength to carry rental or mortgage expenses so the other person can focus on paying down their liabilities, said Daigle.

It is entirely up to the pair and how they wish to handle money in their relationship. When determining who pays in a partnership, communication is important. Couples must have an open and honest discussion about their financial condition, their desires, and their expectations.

Major instability can lead to bank runs, hyperinflation, or a stock market crash. It can severely shake confidence in the financial and economic system.

Your partner's future and safety

The way one person manages money can have a direct impact on the plans and ambitions of the other person. For example, when one partner constantly makes terrible financial decisions and gets consistently into debt, the other may have to clean up their mess.

The vicious cycle of poor financial health and poor mental health. A number of studies have demonstrated a cyclical link between financial worries and mental health problems such as depression, anxiety, and substance abuse. Financial problems adversely impact your mental health.