Financial Transparency and Marital Satisfaction

Baek H. Young, Chenail Ronald and Neymotin Florence ()
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Baek H. Young: Professor, Department of Finance, Huizenga College of Business, Nova Southeastern University, United States of America
Chenail Ronald: Provost and Executive Vice President for Academic Affairs, Professor of Family Therapy, Nova Southeastern University, United States of America
Neymotin Florence: Professor, Department of Decision Sciences, Huizenga College of Business, Nova Southeastern University, 3300 S. University Drive, Ft. Lauderdale, FL 33314, United States of America

Financial Planning Research Journal, 2023, vol. 9, issue 1, 1-24

Abstract: Previous studies suggest that financial distress, financial management, and financial counselling can impact relationship satisfaction among married couples. Utilising a unique Financial Transparency Scale (FTS), we examine the relationship between couples’ financial transparency and their marital satisfaction. We demonstrate that couples who jointly engage in financial partnership activities, such as making joint financial decisions, financial planning, and budgeting, experience a higher level of relationship satisfaction. We additionally find a positive association between a married person’s relationship satisfaction and the degree to which their partner is financially transparent. Our ordinal regression results highlight the importance of financial trust and open financial discussions.

Keywords: Financial transparency; Marital satisfaction; Financial trust; Social exchange theory (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:finprj:v:9:y:2023:i:1:p:1-24:n:1004

DOI: 10.2478/fprj-2023-0004

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