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Separate financial entities?: Beyond categories of money management

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  • Ashby, Katherine J.
  • Burgoyne, Carole B.
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    Abstract

    The work of Pahl [Pahl, J., 1989. Money and Marriage. Macmillan, London; Pahl, J., 1995. His money, her money: recent research on financial organisation in marriage. Journal of Economic Psychology, 16, 361-376] has been highly influential and her typology of money management (in various forms) has been widely used. However, in the light of increasing diversity in intimate relationships and associated forms of money management, a number of researchers have been calling for a more nuanced approach. In this paper, we explore the financial perceptions and practices that lie behind the relatively under-researched but increasingly popular systems of independent management (IM) and partial pooling (PP). Using data drawn from two recent qualitative studies of money management in heterosexual couples (18 cohabiting and 42 getting married) we focus on a subset of those who were using either IM or PP. The findings indicate that classifying couples on the basis of objective financial arrangements does not provide an accurate indication of each partner's standard of living or access to money. Rather than operating more or less as separate financial entities (as implied by the category labels) the picture is much more complex. Couples using IM or PP seem to handle and perceive money in a wide variety of ways, with different implications for individual well-being, depending on whether they had distinct, blurred, or shared perceptions of ownership. The latter are linked to the way partners view their relationship, in terms of permanence, commitment, and ideology, and also provide clues to how stable a particular system of management may be over time. The implications and directions for future research are discussed.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

    Volume (Year): 37 (2008)
    Issue (Month): 2 (April)
    Pages: 458-480

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    Handle: RePEc:eee:soceco:v:37:y:2008:i:2:p:458-480

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    Web page: http://www.elsevier.com/locate/inca/620175

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Burns, Maree & Burgoyne, Carole & Clarke, Victoria, 2008. "Financial affairs? Money management in same-sex relationships," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(2), pages 481-501, April.
    2. Pahl, Jan, 1995. "His money, her money: Recent research on financial organisation in marriage," Journal of Economic Psychology, Elsevier, vol. 16(3), pages 361-376, September.
    3. Wunderink, Sophia R., 1995. "Is family planning an economic decision?," Journal of Economic Psychology, Elsevier, vol. 16(3), pages 377-392, September.
    4. Sonnenberg, Stefanie J., 2008. "Household financial organisation and discursive practice: Managing money and identity," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(2), pages 533-551, April.
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    Cited by:
    1. Jens Bonke & Martin Browning, 2009. "Pooling of Income and Sharing of Consumption within Households," CAM Working Papers 2009-09, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics.
    2. Ashby, Katherine J. & Burgoyne, Carole. B., 2009. "The financial practices and perceptions behind separate systems of household financial management," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(3), pages 519-529, June.
    3. Lars Evertsson & Charlott Nyman, 2014. "Perceptions and Practices in Independent Management: Blurring the Boundaries Between “Mine,” “Yours” and “Ours”," Journal of Family and Economic Issues, Springer, vol. 35(1), pages 65-80, March.
    4. Nicole Hiekel & Aart C. Liefbroer & Anne-Rigt Poortman, 2014. "Income pooling strategies among cohabiting and married couples," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 30(55), pages 1527-1560, May.
    5. Sonnenberg, Stefanie J. & Burgoyne, Carole B. & Routh, David A., 2011. "Income disparity and norms relating to intra-household financial organisation in the UK: A dimensional analysis," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(5), pages 573-582.

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