Articles - British couples must break taboo of discussing finances


Ahead of Marriage Week (7-14 February), Alex Hoctor-Duncan, Savings and Investments Expert at BlackRock discusses why British couples must break the taboo of discussing their finances:

 “Marriage may be about sharing and planning a life together but the BlackRock Investor Pulse survey* found that less than half of Britons (44%) work with their spouse on long-term financial planning. Talking finance seems to be the great British relationship taboo, with British couples less likely to talk to their partner about their finances versus those we surveyed in Europe. More than one in 10 (13%) also claim it can cause arguments and that they do not involve their partner at all (11%) in financial planning.
  
 “Whilst talking about money might not get pulses racing, it’s important that couples discuss their finances and plan for the future. Most couples will experience at least one of life’s big moments such as having children, starting a new career or reaching retirement, and therefore having a financial plan should be a top priority. With the challenge of living longer and the current low returns on cash, it is vital that couples explore their options to devise a long-term plan that works for them. For those couples who prefer to keep their finances separate, a financial adviser is always there as a third party to provide advice”.
  
 *BlackRock Investor Pulse survey: BlackRock research conducted from 24 July to 23 August 2014 amongst a nationally representative sample of 27,500 individuals identified as financial decision-makers, in 20 countries, aged 25 to 74 years old. Sample for the UK is 2,000. 

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