LAS VEGAS, Feb. 12, 2021 /PRNewswire/ — To raise awareness about the connection between love and money, the National Financial Educators Council launched Love & Money Month. Each year during the month of February, we will provide new research and data that help us better understand the impact of money on our relationships; and offer resources to help others improve their relationships through financial empowerment.
The NFEC founded Love & Money Month to raise awareness about how finances can affect our loved ones and give people resources to support them toward healthier relationships and financial situations.
The NFEC breaks this campaign into three distinct areas: romantic relationships, relationships between parents and adult children, and relationships between parents and young children.
Survey Relationships & Money
We asked 1,484 Respondents between January 29th and February 2nd “Who can you comfortably talk with about your personal finances?”
Results: 48.1% None of these, 27.8% Romantic Partner, 10.1% Parents / Guardians, 8.9% Siblings / Extended Family, 5.1% Friends / Co-workers. See the full results at: https://www.financialeducatorscouncil.org/money-and-relationships/
You will also find past survey data that gives insight into these areas: How people felt money affected their romantic relationships. Whether individuals are attracted to financially similar people. The general tone of financial conversations with our significant others.
Romantic Relationships Resources
In addition to the survey, the NFEC also provides complimentary resources to help those in a romantic relationship. Several guides are included: 1) Cost of Love Life Events – Guide to help people plan for the costs at various stages of a relationship. 2) Couples Money Talks – Guide to help people in romantic relationships communicate effectively through the 5 different relationship stages. Access these guides at: https://www.financialeducatorscouncil.org/love-and-money-month-romantic-relationships/
Relationship between Parents and Adult Children
Building on the theme of love and money, the NFEC provides resources and data that highlight the financial intertwining of parents with their adult children. The focus of this year’s data is on caregiving. With almost 1 out of 3 adult children providing financial support to their aging parents, loved ones should discuss this topic early.
To assist in the discussion, the NFEC provides conversation starters and tips for families.
Relationship between Parents and Young Children
With half of parents financially helping their adult children (Bankrate), encouraging parents to mold positive financial behaviors and give children the skills to grow into self-sufficient adults is critical.
During Love and Money Month, we offer resources and data for families with children. One of the aims of this campaign is to encourage families with children to take proactive measures toward raising self-sufficient children who are not only in position to cover their basic needs, but also on track to live rewarding and fulfilling lives.
“We invite all those looking to strengthen their relationships and finances to participate in Love and Money Month. Make February the time to have those conversations about money that you know are important.” NFEC CEO Vince Shorb
Love and Money Month is part of the National Financial Educators Council’s mission to give people knowledge and guidance toward reaching greater financial well-being. We accomplish that mission by empowering financial wellness champions around the world to support community members to work toward financial health. The goal is to create a world where everyone is informed to make confident, qualified financial decisions.
SOURCE National Financial Educators Council