Love connection: Joint bank accounts prompt romantic partners to spend more wisely, study finds
Plagued by a splurging spouse? Open a joint bank account.
New research from the University of Notre Dame shows that people who share money from a joint account are less likely to wastefully spend for fear of having to justify the expenses. Those partners will avoid pleasure spending in favor of utilitarian purchases, which are easier to justify.
“The Consumption Consequences of Couples Pooling Finances” is forthcoming in the Journal of Consumer Psychology, from Emily Garbinsky, assistant professor of marketing in Notre Dame’s Mendoza College of Business and Joe Gladstone of University College London.
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January 14, 2019