Equal Partnership and Money: Feminism, Power, Financial Processes, and Happy Marriages

Written by Family Finance Researcher, Ashley B. LeBaron

If you were to ask the average person on the street, “What is the #1 thing you and your partner fight about?”, chances are good that they would say, “Money.” (They might also say, “Sex,” but we’ll save that for another day.) My job is to figure out why, what this means for you, and what you can do about it. Hi! I’m Ashley, and I’m a family finance researcher. I study how money and family relationships impact each other.

A couple years ago I was listening to a lecture on feminism (btw, I’m a feminist, and I’m pretty sure you are too—we’ll come back to that) and had a lightbulb moment: Is power part of the reason why money—particularly how couples handle their money—has such an effect on couple relationships?

With help from four incredible co-authors and friends (Erin K. Holmes, Jeremy B. Yorgason, E. Jeffrey Hill, and David B. Allsop), I conducted a study that explored whether four couple financial processes (individual income, whether couples had a joint bank account, the extent to which couples managed their money as a team, and how often couples fought about money) would predict relationship quality and relationship stability. I also explored whether relational power would explain why the couple’s financial processes predicted relationship outcomes. In other words, I tested whether financial processes affect the power each partner feels they have in their relationship and whether that power then goes on to affect relationship outcomes.

Before I tell you what I found, let’s first address the elephant in whatever room you’re currently sitting in.

Feminism.

Some of you are already proud, self-proclaimed feminists, and right now your internal voice is going, “Mmhm, preach.” For others of you, the very word might make you feel uncomfortable and defensive, like you’re about to be attacked by a mob of angry, bra-burning women who will blame you personally for every injustice that’s ever been committed. Go ahead and relax—I am not that mob. When I google “define feminism,” here’s what it spits out: “the advocacy of women’s rights on the basis of the equality of the sexes.” Sure, there are different types of feminism. But most feminists are not trying to take over the world and make you feel less than in the process; they’re just trying to help people have an equal opportunity and voice, regardless of whether people have two X chromosomes or an X and a Y. They’re saying, “Hey, I believe women and men are equals. But sometimes, people aren’t treated that way. Let’s do something about it.” I am so grateful for the women before me who recognized their worth and were brave enough to stand up and demand basic rights so that today a woman like me can do things like vote, own land, and be a professor. To someone who listens to and seeks to truly understand others, feminism isn’t scary—it’s a call for equal partnership.

Power.

Let’s also address the word power. To some of you, this might be another one of those scary, ugly-sounding words. Just like the way I feel about feminism has changed, though, the way I feel about power has changed, too. When people use their own power to hurt or take away the power of others, it becomes an ugly thing. Power can be misused. But isn’t it wonderful to see those who once felt powerless become empowered? In relationships, power can be defined as the say or influence that each partner feels they have in their relationship. In other words, to what extent do they feel like an equal partner in their relationship? Research has shown that the highest quality relationships are those in which both partners feel empowered. (That makes perfect sense to most feminists, who want equal power for women and men.) In other words, a great marriage is two people with lots of power. As long as both partners have equal power, power isn’t bad—it facilitates equal partnership.

Okay, so hopefully you’re convinced that feminism and power can provide important insights into what an equal partnership looks like. Now, back to the research study: Can feminism help us answer the question Why does money impact couple relationships so much? Is part of the answer power?

Well, simply put (and believe me—with statistics, it’s never actually simple), we were right! Couple financial processes did predict relationship outcomes, and power was part of the reason why. Healthy couple financial processes (stick with me for a second, and I’ll give you some examples) maximize each partner’s relational power, and relational power seems to be what is actually affecting relationship outcomes.

So what?

So, why does money matter so much in couple relationships? Because how couples handle their money can either empower both partners, or it can diminish the power of one or both partners. (Thanks, feminism!) When both spouses are involved in financial processes, partners tend to be more empowered, and relationship quality and stability tend to be higher.

So, what do these findings mean for you? You get to decide! Power and equal partnership will mean different things in every relationship. However, here are three research-supported steps that you might consider taking to help you better manage finances as a couple:

1. Have joint bank accounts – Having access to money is empowering and facilitates transparency between partners. Pooling resources can also be symbolic–you are a team.

2. Co-manage your money as a team – Make money decisions together and be on the same page about income, expenditures, retirement plans, etc. This demonstrates your equality and partnership.

3. Have minimal, healthy financial conflict – Conflict is normal and healthy for all aspects of our relationships! When we deal with conflict in healthy ways, it can help us make better decisions as a couple. The same goes for conflict about finances.

Easier said than done? So are many of the most important things in life. It’ll take effort. But your relationship will be stronger because of it! Let your financial processes be one of the ways you demonstrate your equal partnership and, therefore, the love and respect and trust you share.

This week, have a discussion about finances with your partner. Do you feel that you are an equal partner when it comes to money-management in your relationship? What changes do you feel you should make together?

References

Britt, S. L., Hill, E. J., LeBaron, A. B., Lawson, D. R., & Bean, R. A. (2017). Tightwads and spenders: Predicting financial conflict in couple relationships. Journal of Financial Planning, 30(5), 36–42.

Conroy, A. A., McGrath, N., van Rooyen, H., Hosegood, V., Johnson, M. O., Fritz, K., Marr, A., Ngubane, T., & Darbes, L. A. (2016). Power and the association with relationship quality in South African couples: Implications for HIV/AIDS interventions. Social Science & Medicine, 153, 1–11. https://doi-org.erl.lib.byu.edu/10.1016/j.socscimed.2016.01.035

Gottman, J. M. (2011). The science of trust: Emotional attunement for couples. New York: Guilford.

Knudson-Martin, C. (2013). Why power matters: Creating a foundation of mutual support in couple relationships. Family Process, 52(1), 5– 18.

Pahl, J. (1995). His money, her money: Recent research on financial organisation in marriage. Journal of Economic Psychology, 16(3), 361-376. https://doi.org/10.1016/0167-4870(95)00015-g

Yodanis, C., & Lauer, S. (2007). Managing money in marriage: Multilevel and cross-national effects of the breadwinner role. Journal of Marriage and Family, 69(5), 1307-1325. https://doi.org/10.1111/j.1741-3737.2007.00449.x

Ashley LeBaron is a doctoral student in Family Studies and Human Development at the University of Arizona. Her research focus is family finance, including couple finance and financial socialization. Ashley was valedictorian for the College of Family, Home, and Social Sciences at Brigham Young University in 2016 and Graduate Student of the Year for the Utah Council on Family Relations in 2018.