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A recent study found that there exists a “marriage wage premium” - it varies depending on men or women, but generally speaking, married people earn between 5-40% more than their single peers and move up the job ladder faster, controlling for education and experience. Why is that?
There are several explanations. One is that the support of a partner gives people confidence to hold out for better opportunities or change careers, while another is that partners are motivated to support a family unit, rather than just themselves.
A study found that men are more likely to give money to charity and give higher amounts shortly after getting married, though single women give more to charity than single men
Getting married comes with a whole host of tax benefits! For example:
For a whole list of tax benefits, check out this article.
A study done by Cornell University titled “Pooling finances and relationship satisfaction” found that couples who pool their money have longer lasting relationships. It’s simple - those who combine their finances were more likely to refer to “our money” versus “my money”, which applies to most facets of the relationship.
Money arguments are the second leading cause of divorce, behind infidelity, according to this article. Having positive communication about money, understanding each others needs and wants, and not being afraid to discuss the subject is key to making sure you’re on the same page. Here’s some tips on how to set boundaries around money with your partner.
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We’ve all made poor financial decisions, but these are potentially some of the craziest.
Finances are one of the single biggest contributors to anxiety. Sure, being good with money can help ease this - but here are some ways to deal with your anxiety overall.