With frequent arguments about finances being a predictor of divorce, national nonprofit ACCC provides couples with smart financial advice.
Boston, MA – September 30, 2015
With rising divorce rates in the United States, many couples have reported that money and financial issues are the main source of conflict in a relationship. That is why national nonprofit American Consumer Credit Counseling has provided couples with three important ways money matters in a relationship.
A recent study by Utah State University shows couples who reported arguing about finances more than once a week were 30 percent more likely to divorce than those who disagreed only a few times per month.
“Money is the number one cause of divorce,” said Steve Trumble, President and CEO of American Consumer Credit Counseling. “Arguments about money are usually longer and more intense due to the fact that financial stress can be extremely overwhelming.”
More people are considering a person’s finances before jumping into a relationship and it’s even having an impact on dating. Men that make more money are more likely to be contacted by a women on dating sites. Men that make $150,000 or more are 82 percent more likely to get contacted on a dating site than men who make $20,000 or less, according to social dating platform AYI.com. Unless they made over $100,000, a woman’s salary was seen as irrelevant. Women who make $150,000 or more are 65 percent more likely to be contacted than women that make $20,000 or less.
With consistent financial issues being the top predictor of divorce, American Consumer Credit Counseling offers three ways money matters in a relationship:
- Credit – If your partner has bad credit, you can find yourselves facing mountains of debt. This presents a variety of challenges, and it makes it much more difficult to afford or qualify for big purchases, such as a car or a house.
- Money Management – Couples with good money management skills know how to live within their means. By ensuring determining a comfortable budget, couples can reduce arguments related to finances and who is spending spends what on various items.
- Financial Beliefs – When it comes to money, everyone’s beliefs are different. Often times couples’ financial beliefs can differ depending on their family backgrounds and socioeconomic histories. Some believe using money to show status is most important where others believe using money as a sense of security is best. When in a relationship, it’s important that couples regularly discuss their financial beliefs so that they are on the same page when it comes to budgeting, spending, and other financial issues that invariably arise.
ACCC is a 501(c)3 organization, that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:
- For credit counseling call 800-769-3571
- For bankruptcy counseling call 866-826-6924
- For housing counseling, call 866-826-7180
- Or visit us online at ConsumerCredit.com
About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management and debt relief through education, credit counseling, and debt management solutions. ACCC provides individuals with practical debt solutions for solving financial problems and recognizes that consumers’ financial difficulties are often not the result of poor spending habits, but more frequently from extenuating circumstances beyond their control. As one of the nation’s leading providers of financial education and credit counseling services, ACCC’s certified credit advisors work with consumers to help them determine the best plan of action to get out of debt and regain financial stability. ACCC holds an A+ rating with the Better Business Bureau and is a member of the Association of Independent Consumer Credit Counseling Agencies. For more information or to access free financial education resources, log on to ConsumerCredit.com or visit TalkingCentsBlog.com.