A third of Australians say money is a source of conflict in their relationships, according to NAB (National Australia Bank).
Half of Australians surveyed said they did not continually look at their finances and stress was particularly prevalent among young men.
NAB surveyed over 2,000 people and found 53% of men aged 18-29 said money caused stress in their relationship and 44% of men in this age bracket said their partner managed all their finances.
A third of couples had one person who solely looked after the finances without any involvement from their partner and 36% said they had quite different financial goals from their partner.
At Heart Financial Advisers, we strongly encourage our clients to be actively engaged with their financial situation, either individually or jointly, and monitor the progress in the achievement of financial goals. Conflict can be eliminated where there is common ground and consensus on goals and the strategies to achieve those goals. There is significant stress and pressure in ordinary life and conflict over money can be simply resolved by having a strong financial plan and relationship with a financial adviser.
Stu Varidel and Your Choice Financial Planning Pty Ltd trading as Heart Financial Advisers are authorised representatives of Sentry Financial Services Pty Ltd AFSL (Australian Financial Services Licence) 286786.
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