Revisiting Financial Issues and Marriage

Chapter

Abstract

This chapter examines research pertaining to the association between financial issues and marriage. The majority of the research reviewed was published after 2008. These studies show that financial issues relate to marriage formation, marital quality, and marital stability (i.e., divorce). Specifically, financial stability is associated with a greater likelihood of marriage. Further, behaviors that financial practitioners would label “sound financial management” are positively associated with marital quality and stability. For example, longitudinal studies found that consumer debt was positively associated with divorce whereas financial assets were negatively associated with divorce. Studies have also found that financial arguments create worse relationship outcomes for couples than other types of disagreements. Because this area of research has been investigated for less than 30 years, this chapter also identifies areas that need further research including gender, diversity, and class issues.

Keywords

Conflict Divorce Family finance Marriage 

References

  1. Andersen, J. D. (2005). Financial problems and divorce: Do demographic characteristics strengthen the relationship? Journal of Divorce and Remarriage, 43, 149–161. doi:10.1300/J087v43n01_08.CrossRefGoogle Scholar
  2. Anderson, B. L. (2010). Finances in strong African American marriages. Masters thesis. Retrieved from DigitalCommons@USU (Paper 785).Google Scholar
  3. Archuleta, K. L. (2013). Couples, money, and expectations: Negotiating financial management roles to increase relationship satisfaction. Marriage and Family Review, 49, 391–411. doi:10.1080/01494929.2013.766296.CrossRefGoogle Scholar
  4. Archuleta, K. L., Britt, S. L., & Klontz, B. T. (forthcoming). Financial therapy. In J. J. Xiao (Ed.), Handbook of consumer finance research (2nd. ed.). New York: Springer.Google Scholar
  5. Archuleta, K. L., & Grable, J. E. (2012). Does it matter who makes the financial decisions? An exploratory study of married couples’ financial decision-making and relationship satisfaction. Retrieved from http://krex.ksu.edu
  6. Archuleta, K. L., Grable, J. E., & Britt, S. L. (2013). Financial and relationship satisfaction as a function of harsh start-up and shared goals and values. Journal of Financial Counseling and Planning, 24(1), 3–14.Google Scholar
  7. Boyle, J. (2012). Shared money, less conflict, stronger marriages: The relationship between money ownership perceptions, negative communication, financial satisfaction, marital satisfaction, and marital instability. Doctoral dissertation. Retrieved from K-State Research Exchange (JeremyBoyle2012.pdf).Google Scholar
  8. Britt, S. L., & Huston, S. J. (2012). The role of money arguments in marriage. Journal of Family and Economic Issues, 33, 464–476.CrossRefGoogle Scholar
  9. Britt, S. L., Huston, S., & Durband, D. B. (2010). The determinants of money arguments between spouses. Journal of Financial Therapy, 1, 42–60. doi:10.4148/jft.v1i1.253.CrossRefGoogle Scholar
  10. Carroll, J. S., Dean, L. R., Call, L. L., & Busby, D. M. (2011). Materialism and marriage: Couple profiles of congruent and incongruent spouses. Journal of Couple and Relationship Therapy: Innovations in Clinical and Educational Interventions, 10, 287–308. doi:10.1080/15332691.2011.613306.CrossRefGoogle Scholar
  11. Cherlin, A. J. (2009). The marriage-go-round. New York, NY: Vintage Books.Google Scholar
  12. Conger, R. D., Elder, G. H., Jr., Lorenz, F. O., Conger, K. J., Simons, R. L., & Whitbeck, L. B. (1990). Linking economic hardship to marital quality and instability. Journal of Marriage and the Family, 52, 643–656. doi:10.2307/352931.CrossRefGoogle Scholar
  13. Conger, R. D., Reuter, M. A., & Elder, G. H., Jr. (1999). Couple resilience to economic pressure. Journal of Personality and Social Psychology, 76, 54–71. doi:10.1037/0022-3514.76.1.54.CrossRefPubMedGoogle Scholar
  14. Dean, L. R., Carroll, J. S., & Yang, C. (2007). Materialism, perceived financial problems, and marital satisfaction. Family and Consumer Science Research Journal, 35, 260–281. doi:10.1177/1077727X06296625.CrossRefGoogle Scholar
  15. DeNavas-Walt, C., Proctor, B. D., & Smith, J. C. (2013). Income, poverty, and health insurance coverage in the United States: 2012. Washington, DC: United States Census Bureau. Retrieved December 2, 2014 from http://www.census.gov/prod/2013pubs/p60-245.pdf.Google Scholar
  16. Dew, J. P. (2008). Marriage and finance. In J. J. Xiao (Ed.), Handbook of consumer finance research (pp. 337–350). New York, NY: Springer.CrossRefGoogle Scholar
  17. Dew, J. P. (2009). The gendered meanings of assets for divorce. Journal of Family and Economic Issues, 30, 20–31. doi:10.1007/s10834-008-9138-3.CrossRefGoogle Scholar
  18. Dew, J. P. (2011). The association between consumer debt and the likelihood of divorce. Journal of Family and Economic Issues, 32, 554–565. doi:10.1007/s10834-011-9274-z.CrossRefGoogle Scholar
  19. Dew, J. P., Britt, S., & Huston, S. J. (2012). Examining the Relationship between Financial issues and divorce. Family Relations, 61, 615–628. doi:10.1111/j.1741-3729.2012.00715.x.CrossRefGoogle Scholar
  20. Dew, J. P., & Dakin, J. (2011). Financial disagreements and marital conflict tactics. The Journal of Financial Therapy, 2(1), 23–42. doi:10.4148/jft.v2i1.1414.CrossRefGoogle Scholar
  21. Dew, J. P., & Eggebeen, D. (2010). Beyond the wage premium: Fatherhood and men’s asset accumulation. Research in Human Development, 7, 140–158. doi:10.1080/15427609.2010.481541.CrossRefGoogle Scholar
  22. Dew, J. P., & Price, J. (2011). Beyond employment and income: The association between young adults’ finances and marital timing. Journal of Family and Economic Issues, 32, 424–436. doi:10.1007/s10834-010-9214-3.CrossRefGoogle Scholar
  23. Dew, J. P., & Stewart, R. (2012). A financial issue, a relationship issue, or both? Examining the predictors of marital financial conflict. Journal of Financial Therapy, 3, 43–61. doi:10.4148/jft.v3i1.1605.Google Scholar
  24. Dew, J. P., & Xiao, J. J. (2013). Financial declines, financial behaviors, and relationship happiness during the 2007–2009 recession. Journal of Financial Therapy, 4(1), 1–20. Retrieved December 18, 2014, from http://newprairiepress.org/cgi/viewcontent.cgi?article=1038&context=jft
  25. Ellison, C. G., Henderson, A. K., Glenn, N. D., & Harkrider, K. E. (2011). Sanctification, stress, and marital quality. Family Relations, 60, 404–420. doi:10.1111/j.1741-3729.2011.00658.x.CrossRefGoogle Scholar
  26. Fletschner, D. & Klawitter, M. (2005). Yours, mine, and ours: How married couples hold their savings. Paper presented at the annual conference of the Association for Public Policy Analysis and Management, Washington, DC.Google Scholar
  27. Gibson-Davis, C. M. (2009). Money, marriage, and children: Testing the financial expectations and family formation theory. Journal of Marriage and Family, 71, 146–160. doi:10.1111/j.1741-3737.2008.00586.x.CrossRefGoogle Scholar
  28. Gibson-Davis, C. M., Edin, K., & McLanahan, S. (2005). High hopes but even higher expectations: The retreat from marriage among low-income couples. Journal of Marriage and Family, 67, 1301–1312. doi:10.1111/j.1741-3737.2005.00218.x.CrossRefGoogle Scholar
  29. Heimdal, K. R., & Houseknecht, S. K. (2003). Cohabiting and married couples’ income organization: Approaches in Sweden and in the United States. Journal of Marriage and Family, 65, 525–538. doi:10.1111/j.1741-3737.2003.00525.x.CrossRefGoogle Scholar
  30. Jenkins, N. H., Stanley, S. M., Bailey, W. C., & Markman, H. J. (2002). You paid how much for that? How to win at money without losing at love. Jossey-Bass: San Francisco, CA.Google Scholar
  31. Kenney, C. (2004). Cohabiting couple filing jointly? Resource pooling and U.S. poverty policies. Family Relations, 53, 237–247. doi:10.1111/j.0022-2445.2004.00014.x.Google Scholar
  32. Kenney, C. (2006). The power of the purse: Allocative systems and inequality in couple households. Gender & Society, 20, 354–381. doi:10.1177/0891243206286742.CrossRefGoogle Scholar
  33. Knoll, M. A. Z., Tamborini, C. R., & Whitman, K. (2012). I do … want to save: Marriage and retirement savings in young households. Journal of Marriage and Family, 74, 86–100. doi:10.1111/j.1741-3737.2011.00877.x.CrossRefGoogle Scholar
  34. Liker, J. K., & Elder, G. H., Jr. (1983). Economic hardship and marital relations in the 1930s. American Sociological Review, 48, 343–359. doi:10.2307/2095227.CrossRefPubMedGoogle Scholar
  35. Marks, L., Dollahite, D. C., & Baumgartner, J. (2010). In God We Trust: Qualitative findings on finances, family, and faith from a diverse sample of U.S. families. Family Relations, 59, 439–452. doi:10.1111/j.1741-3729.2010.00614.x.CrossRefGoogle Scholar
  36. Marks, L., Dollahite, D. C., & Dew, J. P. (2009). Enhancing cultural competence in financial counseling and planning: Understanding why families make religious contributions. Journal of Financial Counseling and Planning., 20(2), 14–26.Google Scholar
  37. Marks, L. D., Hopkins, K., Chaney, C., Monroe, P. A., Nesteruk, O., & Sasser, D. D. (2008). “Together, we are strong”: A qualitative study of happy, enduring African American marriages. Family Relations, 57, 172–185. doi:10.1111/j.1741-3729.2008.00492.x.CrossRefGoogle Scholar
  38. Mauldin, T., Mimura, Y., & Wilmarth, M. J. (2009). Savings behavior among cohabiting, married, and single parents. Consumer Interests Annual, 55, 117. Retrieved from http://www.consumerinterests.org/assets/docs/CIA/CIA2009/2009_mauldin.pdf.Google Scholar
  39. Papp, L. M., Cummings, E. M., & Goeke-Morey, M. C. (2009). For richer, for poorer: Money as a topic of marital conflict in the home. Family Relations, 91, 91–103. doi:10.1111/j.1741-3729.2008.00537.x.CrossRefGoogle Scholar
  40. Rick, S. I., Small, D. A., & Finkel, E. J. (2011). Fatal (fiscal) attraction: Spendthrifts and tightwads in marriage. Journal of Marketing Research, 48, 228–237. doi:10.1509/jmkr.48.2.228.CrossRefGoogle Scholar
  41. Sassler, S., & Miller, A. J. (2011). Class differences in cohabitation processes. Family Relations, 60, 163–177. doi:10.1111/j.1741-3729.2010.00640.x.CrossRefPubMedPubMedCentralGoogle Scholar
  42. Schneider, D. (2011). Wealth and the marital divide. American Journal of Sociology, 177, 627–667. doi:10.1086/661594.CrossRefGoogle Scholar
  43. Shapiro, M. (2007). Money: A therapeutic tool for couples’ therapy. Family Process, 46, 279–291. doi:10.1111/j.1545-5300.2007.00211x.CrossRefPubMedGoogle Scholar
  44. Skogrand, L., Johnson, A. C., Horrocks, A. M., & DeFrain, J. (2011). Financial management practices of couples with great marriages. Journal of Family and Economic Issues, 32, 27–35. doi:10.1007/s10834-010-9195-2.CrossRefGoogle Scholar
  45. Smock, P. J., Manning, W. D., & Porter, M. (2005). “Everything’s there except money”: How money shapes decisions to marry among cohabitors. Journal of Marriage and Family, 67, 680–696. doi:10.1111/j.1741-3737.2005.00162.CrossRefGoogle Scholar
  46. Stanley, S. M., & Einhorn, L. A. (2007). Hitting pay dirt: Comment on “Money: A therapeutic tool for couples therapy”. Family Process, 46, 293–299. doi:10.1111/j.1545-5300.2007.00212.x.CrossRefPubMedGoogle Scholar
  47. Thorne, D. (2010). Extreme financial strain: Emergent chores, gender inequality and emotional distress. Journal of Family and Economic Issues, 31, 185–197. doi:10.1007/s10834-010-9189-0.CrossRefGoogle Scholar
  48. Townsend, N. W. (2002). The package deal: Marriage, work, and fatherhood in men’s lives. Philadelphia, PA: Temple University Press.Google Scholar
  49. Vohs, K. D., Mead, N. L., & Goode, M. R. (2006). The psychological consequences of money. Science, 314, 1154–1156. doi:10.1126/science.1132491.CrossRefPubMedGoogle Scholar
  50. Waite, L. J., & Gallagher, M. (2000). The case for marriage: Why married people are happier, healthier, and better off financially. New York, NY: Doubleday.Google Scholar
  51. Wilcox, W. B., & Marquard, E. (2010). When marriage disappears: The new middle America. The State of Our Unions Marriage in America 2010. Retrieved 12/26/2014 from http://stateofourunions.org/2010/when-marriage-disappears.php
  52. Williams, D. T., Cheadle, J. E., & Goosby, B. J. (2013). Hard times and heart break: Linking economic hardship and relationship distress. Journal of Family Issues, 36(7), 924–950. doi:10.1177/0192513X13501666.CrossRefPubMedCentralGoogle Scholar
  53. Zimmerman, K. J., & Roberts, C. W. (2012). The influence of a financial management course on couples’ relationship quality. Journal of Financial Counseling and Planning, 23, 46–54.Google Scholar

Copyright information

© Springer International Publishing Switzerland 2016

Authors and Affiliations

  1. 1.Department of Family, Consumer, and Human DevelopmentUtah State UniversityLoganUSA

Personalised recommendations