An Examination of How People in Romantic Relationships Use Communication to Manage Financial Uncertainty

Abstract

Money is critical for financial and relational well-being, yet financial communication is often considered taboo, and most Americans receive little financial guidance. Not surprisingly, romantic couples experience financial uncertainty, which has been negatively correlated with satisfaction and trust. Through in-depth, semi-structured interviews of 40 individuals in married or cohabitating relationships and the lens of Uncertainty Management Theory (UMT), this investigation examines how people are (un)able to manage financial uncertainty. The study uncovers tangible ways individuals can negotiate financial uncertainty via uncertainty reduction, maintenance, and adaption, as well as information, communication, time-management, and/or sociocultural barriers that can impede uncertainty management. The investigation suggests the extension of UMT to consider the role of the dyad and offers practical implications for financial literacy and communication efforts.