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The money talk that every couple needs to have | Your Money and Your Mind
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The money talk that every couple needs to have | Your Money and Your Mind

Understanding Finances in Relationships

The Importance of Financial Conversations

  • Many people know intimate details about their partner, such as coffee preferences and medical history, but often lack knowledge about their finances.
  • Research indicates that 78% of individuals would prefer to share their dating history over their financial history. Financial disagreements are a leading predictor of divorce.
  • Couples should engage in discussions about money management; one partner's proficiency can increase while the other's skills may decline if they do not participate actively.

Risks of Financial Disengagement

  • If a non-managing partner faces sudden life changes (e.g., breakup or death), they may struggle with financial management due to lack of practice.
  • Women are statistically more likely to outlive men, making it crucial for both partners to stay financially engaged to avoid future difficulties.

Building Trust Through Vulnerability

  • Open discussions about finances can be daunting but lead to greater trust and intimacy within relationships.
Channel: TED
Video description

When it comes to talking about money with your significant other, most of us … just don’t. But the fact is, if you share a life, you need to discuss your finances now, says behavioral scientist Wendy De La Rosa. She explains why and shares 3 tips to get you started. Managing your money can feel scary and complicated, but it doesn't have to be. In this TED series, behavioral scientist Wendy De La Rosa explains why we spend too much and save too little -- and shares easy steps to help us achieve a more secure financial future. Watch more of Your Money and Your Mind with Wendy De La Rosa here: https://www.youtube.com/playlist?list=PLOGi5-fAu8bENcBPN_-1fxoFKZMFn5kHx Visit http://TED.com to get our entire library of TED Talks, transcripts, translations, personalized talk recommendations and more. The TED Talks channel features the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design -- plus science, business, global issues, the arts and more. You're welcome to link to or embed these videos, forward them to others and share these ideas with people you know. Become a TED Member: http://ted.com/membership Follow TED on Twitter: http://twitter.com/TEDTalks Like TED on Facebook: http://facebook.com/TED Subscribe to our channel: http://youtube.com/TED TED's videos may be used for non-commercial purposes under a Creative Commons License, Attribution–Non Commercial–No Derivatives (or the CC BY – NC – ND 4.0 International) and in accordance with our TED Talks Usage Policy (https://www.ted.com/about/our-organiz...). For more information on using TED for commercial purposes (e.g. employee learning, in a film or online course), please submit a Media Request at https://media-requests.ted.com