Financial communication as a mediator between financial values and marital outcomes

• Published date: 01 October 2023
• Author: Ashley B. LeBaron‐Black,Matthew T. Saxey,Casey J. Totenhagen,Brandan E. Wheeler,Kristy L. Archuleta,Jeremy B. Yorgason,Spencer James
• Date: 01 October 2023
• DOI: http://doi.org/10.1111/fare.12786

RESEARCH

Financial communication as a mediator between

financial values and marital outcomes

Ashley B. LeBaron-Black

1

|Matthew T. Saxey

1

|

Casey J. Totenhagen

2

|Brandan E. Wheeler

3

|Kristy L. Archuleta

4

|

Jeremy B. Yorgason

1

|Spencer James

1

1

School of Family Life, Brigham Young

University, Provo, UT

2

Human Development and Family Studies,

University of Alabama, Tuscaloosa, AL

3

Department of Family and Consumer

Sciences, Alabama A&M University,

Normal, AL

4

Financial Planning, Housing and Consumer

Economics, University of Georgia,

Athens, GA

Correspondence

Ashley LeBaron-Black, 2065 JFSB, School of

Family Life, Brigham Young University,

Provo, UT 84602, USA.

Email: lebaronashley@gmail.com

Abstract

Objective: We test whether perceived similarity of partners’

financial values is associated with marital satisfaction and

stability and whether financial communication mediates

these associations.

Background: Although many studies have found links

between finances and marital satisfaction, marital stability

has been understudied. Additionally, many studies have

examined the impact of couple financial behaviors on mari-

tal outcomes but have failed to account for the role of finan-

cial values in shaping those behaviors. Couple and finances

theory motivated the study and guided our hypotheses.

Method: We used dyadic data from the Couple Relation-

ships and Transition Experiences project, a nationally rep-

resentative sample of newlyweds (N=1,700 different-sex

couples). We conducted an actor–partner interdependence

model to test direct and indirect associations.

Results: Partners who perceived similar financial values

are better able to communicate with their spouse about

money, which in turn predicts marital satisfaction and sta-

bility. We found both actor and partner associations and

evidence of both full and partial mediation.

Conclusion: Our results support previous research demon-

strating the importance of shared financial values in under-

standing relationship outcomes. Additionally, financial

communication is a mechanism linking these constructs.

Implications: Our findings may inform interventions for

increasing marital satisfaction and stability and for

improving couple financial communication.

KEYWORDS

couple and finances theory, divorce, financial communication, financial

values, marital satisfaction, marital stability

Received: 10 September 2021Revised: 12 August 2022Accepted: 10 September 2022

DOI: 10.1111/fare.12786

© 2022 National Council on Family Relations.

1974 Family Relations. 2023;72:1974–1992.wileyonlinelibrary.com/journal/fare

A person’s financial values shape their financial behaviors and well-being (Hira, 2012). When

two people marry, each partner’s individual assets and debts, financial values, and financial

behaviors shape the couple-level financial behaviors and the well-being of the relationship

(Archuleta et al., 2013; Dew, 2007; Dew et al., 2021). Indeed, money is one of the top sources

of stress and conflict for couples (Dew, 2016); it is not only whether they have enough money

(which is to some degree a subjective perception already; Carroll et al., 2011; LeBaron

et al., 2017,2018b) that causes couples stress, but also what that money means and what they

should do with it (which decisions are shaped by their financial values; Koochel et al., 2020;

Rick et al., 2011; Shapiro, 2007). In the current study, we test whether the perceived similarity

of a couple’s financial values is associated with how they rate their communications about

finances (i.e., financial communication) and subsequently with their marital satisfaction and

stability. We expect that couples who perceive more similar financial values will rate their finan-

cial communication more positively, which will benefit their relationship. Our findings may

inform interventions for increasing marital satisfaction and stability and for improving couple

financial communication.

COUPLES AND FINANCE THEORY

Couples and finance theory (CFT; Archuleta, 2013) was used as the theoretical framework that

motivated the study. CFT describes the potential connections among similarity of financial

values, ratings of financial communication, and marital satisfaction and stability. CFT, which

is based on systems theory (Whitchurch & Constantine, 1993) and the family resource manage-

ment model (Deacon & Firebaugh, 1988), assumes that financial processes and couple processes

influence each other (Archuleta, 2013). The couple process involves couple relationship charac-

teristics and marital quality. Regarding financial processes, financial inputs (e.g., income, sav-

ings, etc.; Archuleta & Burr, 2015), financial management practices (e.g., financial behaviors;

saving consistently, paying down debt), and financial satisfaction are interrelated. CFT suggests

that individual partner characteristics (e.g., age, gender, education, etc.) encompass personal

and financial attributes (personality, attitudes, values, etc.), which affect both the couple and

financial processes and the interactions between the processes.

The interconnectedness among the couple processes and financial processes was termed rela-

tional finances in later development of the theory (Archuleta & Burr, 2015). Relational finances

and individual factors are set within an ecological framework that assumes couples will be

impacted by environmental contexts and cultural factors (e.g., ethnicity, socioeconomic class,

economy, religion, culture, and community) in which the partners were both raised and cur-

rently live (Archuleta & Burr, 2015). Figure 1illustrates CFT’s conceptual model (Archuleta &

Burr, 2015).

For the purposes of this study, we used specific concepts (i.e., individual partner attributes,

couple relationship characteristics, marital quality, and financial inputs) within the CFT frame-

work to describe the relationships among the variables tested within this study. More specifi-

cally, marital quality for both husbands and wives (i.e., using an actor–partner interdependence

model [APIM]; Kenny et al., 2006) was tested using marital satisfaction as well as marital sta-

bility. Archuleta and Burr (2015) have referred to marital quality as marital satisfaction and

overall quality; here we will also examine whether this particular category extends to marital

stability. Similarity of financial values was considered a couple relationship characteristic

because it refers to how one perceives their financial values, which both partners bring to the

marriage. Financial communication was also categorized as a couple relationship characteristic,

reflecting primarily how respondents rated their communication about finances within the rela-

tionship. We recognized household income as a financial input but used it as a control variable

for the purposes of this study. We also recognized gender as an individual partner attribute

FINANCIAL VALUES AND MARITAL OUTCOMES1975