Connect * Empower * Impact

2019 AFCPE® Research and Training Symposium

AFCPE Pre-Symposium: Sunday, November 17 - Tuesday, November 19
AFCPE Symposium: Tuesday, November 19 - Thursday, November 21
Schedule Subject to Change

Thursday, November 15th, 2018
Category: Communication
Show Me The Money! Communication, Financial Transparency, and Marital Satisfaction
As adults look to get married communication is key; however, disclosure of finances may be difficult for couples. To better understand the role of effective communication regarding finances, as it related to marital satisfaction, a sample of 75 married emerging adult individuals and 102 adult individuals in their first 5 years of their first marriage completed an online survey measuring communication, financial transparency, and marital satisfaction. Using hierarchical multiple regression, communication was found to account for 18% of the variance in marital satisfaction, and financial transparency accounted for an additional 5% of the variance for emerging adults. For adults, communication accounted for 34% of the variance in marital satisfaction, and financial transparency accounted for an additional 5.4% of the variance in marital satisfaction. Implications for practitioners will be discussed.
Implications for Practitioners
This study expands our knowledge on the role of effective communication and marital satisfaction through the use of the Financial Transparency Scale (FTS). Financial planners and counselors can use the FTS as a tool to illustrate to partners the importance of healthy open and honest communication about finances, pointing out that couples may find these conversations difficult because of the disclosure of private information. The FTS allows practitioners to identify potential financial conflict areas related to finances, and perhaps, through early detection, decrease the likelihood of marital dissolution. Important implications for early education on financial communication will also be discussed.