“People often avoid talking about money before they are married, and that carries over into marriage,” she adds.
Discussions about the findings can be a conversation starter for advisors, but the advice would depend on the people involved. For instance, if a couple has trouble enjoying the money they have, they might want to set up separate accounts to give each other “permission” to spend some of it.
“From a practical perspective, this research sheds light on the advantages and disadvantages of pooling financial resources,” the report says. The report says little nudges like a spouse’s picture or a text message might help curb over-spending.