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Heard of finance getting into love’s way? A study by Prudential revealed probably one of the best kept secrets between couples. It disclosed that as many as one in ten people hid their debt records from their fiancees, fearing subsequent splits or arguments. The research showed financial discords being the reason for at least 50% of the arguments among affianced couples. Moreover, one in three couples confessed that they had overlooked their forthcoming joint financial future.
Couples were found to get carried away in their romance and wedding preparations so much so that their future financial security plans were totally ignored. As director of customer insights, Prudential UK, Angus Maciver puts it “This study shows that in the blur of champagne and honeymoon preparation many couples overlook financial planning, which is an important foundation stone of two people's lives together."
He also stated how debt secrets amongst engaged couples had landed unsuspecting individuals into the debt muddle. Also, while some were found to withhold private bundles of cash from their fiancés for their personal use, others could be raking up the moolah for the divorce treasure chest. According to Angus, it was best for couples to discuss financial issues openly amongst themselves to avoid future arguments and misunderstandings over their finances. They could then begin to plan and save for their future together, as ‘the longer they wait the sooner the honeymoon period will end.’
Prudential also proved that women were found to manage financial decisions in a relationship more than men, with 26% of women admitting to be the financial controllers in a relationship as compared to a scanty 14% of men.
Posted
on : Sat, 09 Apr 2005 00:00 GMT | Debt News
By : Anne Philips
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