Love means never talking about money?

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money sxc Right now, I have no idea who I bank with or how many accounts I may have.

London - As many as one in seven couples over the age of 40 admit they have never discussed their finances with each other, a survey has found.

Fears of sparking an argument and embarrassment were given as the main reasons to shy away from the topic.

Money was a major cause of rows for nearly a quarter of the 2,000 over-40s surveyed, all of whom were living with a partner, with only household chores and family causing more arguments.

Even for those couples who did discuss their finances, long-term plans were likely to be sidelined in favour of everyday worries.

Daily living costs and household bills were discussed on a regular basis by more than half of couples, whereas only 22 percent talked about savings and investments.

One in six had never discussed their retirement income and pension-planning, and of these couples, 15 percent said they never intended talking about it.

Vince Smith-Hughes, of insurance firm Prudential, which carried out the study, said couples who refuse to discuss finances would lose out in the long run.

‘Money can be a tough topic to discuss at the best of times,’ he said. ‘Yet it really pays to be honest. Being open about discussing long-term financial planning as early as possible will help couples to ensure they can enjoy a comfortable retirement together.’ - Daily Mail

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