If you argue about money with your significant other, you’re not alone.
A United States study by Quicken, maker of the leading personal finance management software from Intuit Inc. (Nasdaq: INTU), reveals that money can drive a wedge between many couples. Of those surveyed:
- One in three argued with their significant other about finances.
- One in 10 lied to their significant other about money.
- One in 10 has slept on the couch after arguing about money.
Trust is another significant issue facing many couples when it comes to money. One in five respondents said they monitor their partner’s spending, while three percent of those surveyed said they have an account they hide from their significant other. Hiding purchases in the trunk of the car is not uncommon for five percent of those surveyed.
“Smart money management between couples starts with creating a budget together or making joint financial decisions,” said Holly Perez, personal finance advocate for Quicken. “Knowing exactly where your money is going and staying on top of it can strengthen your relationship and your bank account.”
It’s Not You, It’s Me
Money woes can stop a relationship before it starts. Of those surveyed, 33 percent have skipped a night out because of their own finances. An additional four percent of respondents have broken up with someone because their potential partner had too much debt.
“Having mystery in a relationship can be important, but it doesn’t have to be surrounding finances,” said Michael Neal, a Quicken user from Fort-Worth, Texas. “Each week, my wife and I review our Quicken reports. It helps keep us on track and avoid arguments over money. We’ve even made Quicken a family affair, helping teach our kids about money so that they’re prepared for financial bumps in the road.”
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.
Founded in 1983, Intuit had annual revenue of $4.15 billion in its fiscal year 2012. The company has approximately 8,500 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.
About the survey
Findings are from an Ipsos Observer poll conducted on Sept. 11-19 on behalf of Quicken. For this survey, a sample of 1,015 Americans from Ipsos’ American online panel was interviewed online. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to census data and to provide results intended to approximate the sample universe.