5 things financial marketers should know about love and money
Money matters strain romantic relationships, as frustrations and financial fears loom over more marriages. Couples fret over everything from 'financial infidelity,' their partner's old debts and the cost of engagement rings.
There’s an old saying: “When Money walks in the door, Love flies out the window.”
That may or may not always be true, but understanding the mindsets of Americans married or otherwise living together or at least in a romantic relationship is essential to being able to market financial services to them now and in the future.
Studies have been portraying American marriage and cohabitation increasingly in a less idealistic light. Less a union and meeting of the minds and more, sometimes, as an uneasy economic alliance. Communication about finances isn’t always what it could be, both before and after marriage.
New factors influence partners’ thinking about money. For example, a Merrill Edge survey on love and money found that many mass affluent Americans say social news feeds influence their spending habits (48%), budget (43%) and savings (42%).
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