People worried about bills, feeling overwhelmed about overspending or concerned about money management may expect a “money talk” to lead to an argument, so they avoid bringing up the topic, according to a report from researchers at Cornell University and Yale University, published this month in The Journal of Consumer Psychology.
Yet prior research has found that communicating about money helps couples spend more responsibly and better manage their debt.
Why is it so difficult for some people to talk about money with their partners in the first place?
Aja Evans, a financial therapist in New York, said people may feel ashamed that they are having money troubles.
(Financial therapists aim to help clients understand how their emotions and beliefs about money can affect their financial behavior.)
Persons:
”, Emily Garbinsky, Aja Evans
Organizations:
Cornell University, Yale University, Consumer Psychology
Locations:
New York