“Is He Selfish for Refusing to Fund His Girlfriend’s Haircut After Years of Her Support?”
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Most young couples admitted to not talking about finances until they reached a major milestone in their relationship, like moving in together or getting engaged or married. “This lack of communication has led many to reconsider their relationships and, in some cases, end them altogether,” noted Credit Karma, when releasing the results of the poll.
While they’re reluctant to have finance discussions early on, many young people did admit to researching a new partner’s job to gauge how much money they make. 35% of Gen Z and 25% of millennials said they do this before getting deeply involved.
Experts advise couples to talk about finances openly and honestly, as early as possible. “Betrayal from financial mismanagement can be traumatizing and have a similar effect on a relationship as infidelity,” warned relationship specialist Jen Elmquist. “Recovering often requires the support of a couples therapist and a financial planner to make sure that, going forward, there is some accountability.”
Finances came out as a major bone of contention for Gen Z and millennial couples. More than half of them said they fight about money in their romantic relationships. And over 40% argue about cash on a monthly basis. According to the survey, for millennial couples, money is the biggest source of arguments in their relationships, above not being present, being on a smartphone, spending time together, chores and intimacy.
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