The earlier couples first discussed finances, the better? A dyadic, longitudinal replication and extension

Abstract

Objective

We examined associations among couples' first financial discussion, healthy financial communication, marital satisfaction, and financial disagreements with cross-sectional and longitudinal dyadic data.

Background

Prior research on these associations has only used cross-sectional data from one respondent.

Method

We used actor–partner interdependent structural equation modeling with a sample of 1,079 mixed-gender, newlywed dyads to estimate cross-sectional and longitudinal models.

Results

Cross-sectionally, both husbands' and wives' reports of their first financial discussion predicted better marital satisfaction and fewer financial disagreements through their own report of healthy financial communication. Longitudinally, only husbands' report of the couple's first financial discussion positively predicted between-person changes in both husbands' and wives' marital satisfaction two waves later. Additionally, whereas husbands' healthy financial communication predicted changes in their own marital satisfaction, financial disagreements, and wives' financial disagreements over time, wives' healthy financial communication only predicted changes in their own perception of financial disagreements.

Conclusion

Future relational and financial outcomes for mixed-gender newlyweds appear to benefit from an earlier first financial discussion in their relationship.

Implications

Therapists and educators should focus on the timing and quality of couples' financial communication to help couples mitigate financial disagreements and improve marital satisfaction.