It seems that the phrase 'happily ever after' remained in fairy tales, and now, 'happy as long as there is money' reigns, because without a doubt, differences between couples on how to handle money accelerates divorce. That is the main conclusion of a survey carried out by the renowned savings and credit cooperative Fincomercio, which, knowing the increase in divorce numbers, investigated this matter with the aim of providing financial education connected to the reality of couples regardless of their age and time. of coexistence.
The survey, according to the entity, yielded three major conclusions about the relationship between the couple's income and payment responsibilities.
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“This survey revealed in the month of marriage allowed us to reach 3 major conclusions. First, 81% of Colombians consider that, if their partner has poor money management, this factor accelerates divorce. Second, it reveals that men and women prioritize their expenses very differently, since 76% of them consider issues related to feeding the family to be essential. On the contrary, 46% of them prioritize their personal interests, such as acquiring new goods and practicing hobbies or sports. Third, 42% consider that, if their partner hides salary increases or bonuses from them, this fact is classified as financial infidelity,” says Mauricio García, director of credit and investment Fincomercio.
According to the figures, In Colombia, couples went from the romantic 'love can do everything' to the forceful 'money decides everything'. This radical change prompts us to ask, what are the reasons for this rise in divorces. In that sense, in December 2023, the College of Notaries said that “the 3 main causes of divorce are infidelity, failure to meet financial obligations and domestic violence.”
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“Given that money management is among the 3 main causes of divorce, we as a cooperative consider that promoting open communication between couples on economic issues and designing services tailored to the needs of Colombians is essential. We are totally convinced that promoting solutions such as programmed savings and safe investments such as CDATs are tools of financial stability,” explains García.
Fincomercio survey on financial behavior as a couple.
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Experts assure that couples must recognize that savings is an unquestionably vehicle that allows them to achieve goals. In this regard, García adds that “the key is to find the savings model that fits the needs of each couple, that they acquire habits for healthy money management, that they see their finances as a tool to strengthen the foundations of the marriage and that Educate your children by example about the need to have absolute transparency as a family about expenses, debts and priorities as a way to avoid economic conflicts.”
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“According to the Collegiate Union of Colombian Notaries, as of September 2023, in the country, 99 couples a day processed their divorce. In that context, we thought it was important to ask Colombians what financial deception they have experienced as a couple. The survey records that 42% of those consulted hide salary increases or bonuses, 29% hide purchase receipts, 25% hide debts and 4% secretly withdraw savings,” García mentions.
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The survey reveals the top 10 reasons Colombians end their relationship due to money issues. The list highlights feeling that the couple does not trust their financial judgment, lack of commitment to joint goals, absence of open communication, expenses that one of the two describes as excessive and impulsive, and lack of financial planning.
Fincomercio survey on the behavior of couples in financial matters.
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1. Lack of financial education: lack basic money management guidelines
2. Not saving as a couple: causes individual decisions to be made
3. Fear when talking about money: for fear of causing an argument as a couple
4. Not having goals as a couple: lack of objectives that require teamwork
5. Financial dishonesty: includes hiding debts or additional income
6. Excessive and impulsive spending: tendency to spend more than you earn
7. Indiscipline in the management of income: sin by not measuring daily spending and its impact
8. Unagreed inequality in financial contribution: one of the two contributes more and remains silent
9. Lack of understanding of differences: absence of minimum agreements to manage money despite different criteria
10. Repetitive non-compliance with financial agreements: not following the commitments established by the couple, such as fixed savings installments, payment dates and similar.
Holman Rodríguez Martínez
