(WFSB) -- Nearly four in 10 couples don’t know how much money their spouses make.
Experts say that cash conversation is an important one to have, so that you and your partner are on the same page financially.
“No matter how well you work together, there is always room to improve,” said money expert Stacey Watson.
A new study shows one in five couples say money is their greatest relationship challenge.
The solution, according to Watson, is making it a team sport.
“Make the time to have that open communication, that regular dialogue, so you have a full picture of your financial story,” said Watson, who is the senior vice president of Life Events Planning.
Fidelity just released the findings of their 2021 Couples and Money Study, which found that more than half of couples disagree on how much they need for retirement.
Same sex couples are more likely to go it alone when it comes to financial decisions.
“One in five women still report that they have little or no involvement in their retirement planning, so our message about that is it’s ok to delegate, but don’t abdicate, because staying involved makes both partners feel confident about the future,” Watson said.
Watson also suggests having a financial date night where you go over the numbers, so you make sure you have a strong financial foundation.
“What is important is that both partners are aware of the full financial picture and that they plan together for the future,” Watson said.