Family finances and other money issues are one of the most common sources of marital problems, and can also lead to general conflicts within the family. Here are some facts and statistics related to family finances:
Statistic #1: Discussing finances before marriage
Just 20% of people discuss financial matters before they marry. Yet according to researchers, this is a mistake, since money issues often end up being a top source of the strife they face. (Krantz, 2011)
Statistic #2: More women are becoming primary breadwinners
In 2009, the most recent year for which U.S. Bureau of Labor statistics were available, nearly 4 in 10 working wives out- earned their husbands. This represents an increase of more than 50% from 20 years before. Assuming that present trends continue, by the next generation, more families will be supported by women than by men. (Mundy, 2012)
Statistic #3: Hiding money from a spouse
Thirty-one percent of Americans who have combined finances with their spouse admit to lying to their partners about money. Of these admitted liars, 58% said they had hid cash, 15% hid a secret bank account, 11% had lied about debts they owed, and 11% lied about how much money they earn.
(The Week, 1-28-2011, p. 23)