After sharing a bathroom or fighting over the middle seat on road trips throughout childhood, most adult siblings can still find things to disagree about.
Although only 15 percent of siblings report that their disagreements revolve around money, for those who do argue about finances, the same issues often arise, according to a new report from Ameriprise.
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More than two thirds of siblings who have had money-related disagreements say that the disputes have been about their parents, with top issues including how an inheritance is divided, who provides the most support to parents, or perceived unfair financial support from parents.
More than 60 percent of siblings who have had money-related disagreements have discussed the issue, and a third have been able to resolve it. Beyond arguing about their parents, 56 percent of siblings who argue about money blame their different values or spending habits, and 46 percent say it’s because of varying levels of income.
Even those siblings who don’t have arguments about money report having different views on finances. Among those surveyed, 57 percent said that they approach financial difficulties decisions differently than their siblings, and 44 percent said they think they’re more financially responsible than their sibling.
Despite these differences, nearly two-thirds of siblings said that they do discuss money with each other. “Families who talk about money tend to feel more confident, so it’s encouraging to learn that many siblings are having financial conversations,” Marcy Keckler, vice president of Financial Advice Strategy at Ameriprise Financial said in a statement.