Co-author supplied link to the PDF:
* https://academic.oup.com/jcr/advance-article/doi/10.1093/jcr...
* Via: https://twitter.com/JennyGin18/status/1636732475375321089
Couples with joint checking accounts are happier
141–150 of 205 posts
Re: Couples with joint checking accounts are happier
#142Earlier quoted context omitted.
> You're thinking all the money of both people has to go in the same join account, but that's not the case. That’s quite literally what the study is suggesting. All money in one account results in the most satisfaction. https://academic.oup.com/view-large/402916029?guestAccessKey...
> All money in one account results in the most satisfaction. Does it though? It could also be seen the other way around as "If you're already satisfied and trust each other, you are more probable to use a join account".
The study thought of this:
> Procedure [of Study 1]: Once both partners completed the intake survey (month 0), we randomly assigned couples to one of three bank account structure conditions. We informed couples via e- mail and provided condition-specific instructions. In the Separate Condition, we instructed couples to continue using separate checking and savings accounts and to not open joint checking and savings accounts, for the duration of the 2-year experiment. In the Joint Condition, we instructed couples to open joint checking and/or savings account(s) (within 1 month of them receiving these instruc- tions), use those joint account(s), and discontinue using their separate account(s) for the duration of the 2-year experiment. In the No-Intervention Condition, we told couples that they could manage their money however they liked for the duration of the 2-year experiment.
* PDF: https://academic.oup.com/jcr/advance-article/doi/10.1093/jcr...
"randomly assigned couples to one of three bank account structure conditions"
Re: Couples with joint checking accounts are happier
#143Earlier quoted context omitted.
> Do what works for you. This study is saying couples randomly chosen to merge finances had better relationships, which doesn’t really align with your advice.
Better relationships on average . What works best for you might not align with the average for your cohort. Adapting average-based advice to your individual characteristics often results in a better match to what's best for you than following the average ignoring your individual characteristics.
> Better relationships on average.
And exercising more and smoking less increases health, longevity, and well-being on average—unless you get hit by a truck.
There are no guarantees in life except that it will end, so you might as well try to stack the averages and odds in your favour whenever you can.
Re: Couples with joint checking accounts are happier
#144Earlier quoted context omitted.
because of point 3. for example my wife didn't like me doing detailed accounting of all of our expenses do i had to stop that. she hasn't spent to much money so that issue didn't come up but i can imagine it being a problem to tell your partner they spend to much if the partner is sensitive about that.
That’s not an excuse to let things boil up without talking about it. If you fundamentally cannot communicate with someone you should not get married
that is not fair. it is easy to say, but sometimes very hard to do. things like these are not always predictable, and especially money handling often doesn't even come up as an issue until after you are married for some time.
Re: Couples with joint checking accounts are happier
#145Applying Hank's razor: Couples who are happier are much more likely to agree to open a joint checking account, skewing the stats
The study thought of this:
> Procedure [of Study 1]: Once both partners completed the intake survey (month 0), we randomly assigned couples to one of three bank account structure conditions. We informed couples via e- mail and provided condition-specific instructions. In the Separate Condition, we instructed couples to continue using separate checking and savings accounts and to not open joint checking and savings accounts, for the duration of the 2-year experiment. In the Joint Condition, we instructed couples to open joint checking and/or savings account(s) (within 1 month of them receiving these instruc- tions), use those joint account(s), and discontinue using their separate account(s) for the duration of the 2-year experiment. In the No-Intervention Condition, we told couples that they could manage their money however they liked for the duration of the 2-year experiment.
* PDF: https://academic.oup.com/jcr/advance-article/doi/10.1093/jcr...
"randomly assigned couples to"
Re: Couples with joint checking accounts are happier
#146Seems obvious. Though, I think a lot of people here think the takeaway is "if you're in a relationship and you do separate now, you'll be happier if you put them together" and NO NO NO that's not it at all. It's "if y'all were already the type to put them together, you're probably happier than the types who didn't."
The study thought of this:
> Procedure [of Study 1]: Once both partners completed the intake survey (month 0), we randomly assigned couples to one of three bank account structure conditions. We informed couples via e- mail and provided condition-specific instructions. In the Separate Condition, we instructed couples to continue using separate checking and savings accounts and to not open joint checking and savings accounts, for the duration of the 2-year experiment. In the Joint Condition, we instructed couples to open joint checking and/or savings account(s) (within 1 month of them receiving these instruc- tions), use those joint account(s), and discontinue using their separate account(s) for the duration of the 2-year experiment. In the No-Intervention Condition, we told couples that they could manage their money however they liked for the duration of the 2-year experiment.
* PDF: https://academic.oup.com/jcr/advance-article/doi/10.1093/jcr...
"randomly assigned couples to one of three bank account structure conditions"
Re: Couples with joint checking accounts are happier
#147We use a joint account and joint credit cards for most things. We each take a $250 monthly allowance to personal accounts. Most of our personal purchases still come from the joint account but every once in awhile you want something big without running it past the other person or you want to buy a gift for them and need the privacy. We budget and pay off our credit cards every week.
This arrangement works well for us. We are both financially responsible though. I think my wife prefers the joint account because I do the weekly budgeting and it allows her to get a clear view of her own expenses with charts. It also prevents all conversation of the sort, “who is paying for this,” that I’ve seen some of our friends get into.
I don’t really care if my wife spends more than I do. I don’t think she cares if I spend more than her. What we care for is that we can get a clear overview of everything to understand how our team is doing.
Re: Couples with joint checking accounts are happier
#148I couldn't be happier with a hybrid setup. My gf and I have an account that we both contribute mortgage and utility money into. Our finances are otherwise completely separate. We buy whatever we want and trust each other to pay our share. It is extremely easy and has not once resulted in any arguments.
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Re: Couples with joint checking accounts are happier
#149Doesn't show much? - Is relationship quality THE ONLY thing that matters? Certainly it's very important, but individuals needs and wants, or desire to help other family members are not NOTHING. If drop in relationship quality was slight, but improvements to these other areas were pronounced, could be a trade off to consider? - Couples were randomly assigned to each group and presumably ones who didn't adhere dropped…
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Re: Couples with joint checking accounts are happier
#150From reading some comments I'm surprised joint account doesn't just mean money for rent/mortgage, bills, groceries, repairs, house stuff. Share the money that's meant to be shared and don't share the money that isn't. I don't want to spend my partner's money on things that exclusively will be used by me, it just doesn't make sense.