Nearly half of all couples argue over money

Monday 08 March 2010

Article by Mozo

Almost half of all couples argue over money – and finance feuds are on the rise, new research shows.

A poll for Westpac revealed that partners that keep secret savings accounts, make purchases without consulting their other half or feel anxious about not earning enough are more likely to get into arguments over their finances, the Herald Sun reported.

In addition, the research found that men are more suspected of wasting money, undermining the stereotype of the female shopaholic.

One in five women said they do not completely trust their partner with shared finances – double the rate among men.

Relationship psychologist John Aiken noted that people have different values about money which can cause problems when they come to compare savings accounts and other financial products.

"Some people are savers and some are spenders, which often has a lot to do with how we were brought up to think about money," he added.

Last week, representatives from Australia’s major banks hit back at claims they are profiting from unfair fees on customer accounts.

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