BAKERSFIELD, Calif. (KBAK/KBFX) — Valentine’s Day spending is expected to increase this year, with consumers spending hundreds on gifts for their loved ones.
The holiday provides the perfect opportunity for couples who avoid talking about finances to speak openly about their spending habits.
Bankrate Principal Analyst Ted Rossman joined ARC Bakersfield to share how couples can navigate conversations about finances.
Rossman says financial conflict is one of the leading causes of divorce in the U.S.
He says couples should be honest about spending to avoid those conflicts.
Rossman noted that more couples are choosing to have both joint and separate accounts.
He says this is a healthy option for relationships as both partners can spend without worrying about the other’s finances.