Here’s How Wealthy Couples Make Money Decisions
Life + Money

Here’s How Wealthy Couples Make Money Decisions


The vast majority of wealthy couples -- 86 percent -- make decisions about major purchases as a team, according to a new survey by PNC.

When it comes to other financial decisions, however, they’re less likely to collaborate. Less than 40 percent of millionaire couples share responsibility for day-to-day financial budgeting, and only one in three make long-term investment decisions together.

Two-thirds of wealthy couples say they pool their money, while 26 percent keep some accounts separate, and 7 percent keep everything separate.

The survey found that nearly 60 percent of wealthy couples fully discussed their financial pictured before they got married or started to living together, and those who did were more likely to pool their money.

Related: The 5 Worst Money Mistakes of Millionaires

Only about a quarter of wealthy couples reported arguing over money. Those who did have disagreements over finances were more likely to be unequal contributors to the family finances and not to have disclosed finances before marriage or living together. Those who argued over money were also more likely to have attained the majority of their wealth via an inheritance, divorce or legal settlement.

In two-thirds of millionaire couples surveyed, one partner contributed more wealth than the other, and one in five of those couples said that had caused financial tensions, including disagreements on how to spend and an unwillingness to discuss finances.

To minimize potential conflicts, PNC recommends that couples have regular conversations about money, come up with a financial plan together, and make sure both couples feel responsible for both budgeting and spending.