Do you believe Barack Obama will show support towards the GLBT community?

Do you and your boyfriend (or partner or husband) bring home significantly different salaries? If so, you’re not unlike most Americans in serious relationships.

According to new Wall Street Journal Online/Harris Interactive Personal Finance Poll, more than eight out of 10 U.S. adults are involved in relationships with income disparities, with only 10 percent saying they earn the same as their partners/spouses.

Those in relationships with people of the opposite sex see an especially big gap in take-home pay. Fifty-seven percent of men involved in the survey indicated they earn more than their spouse/partner, while 66 percent of women say their spouses/partners earn more.

Even with these income disparities, nearly nine out of 10 respondents say they have discussed financial issues with their spouses or partners and more than half have discussed their spending habits and their current savings goals. Respondents over the age of 55 are significantly less likely to have discussed spending habits, debt and household budgets. However, respondents over 55 are more likely to discuss investments and net assets-probably due to retirement planning needs.

Respondents ages 18-34 are more likely to discuss spending habits, savings, debt, budgets and financial responsibilities. Respondents who work part-time and those who are retired are less likely to discuss spending habits with their spouses or partners, while students, who may also be on a limited income, are more likely to discuss spending habits, savings, debt and household budgets. Retired respondents are much more likely to discuss their net assets with their partner than other respondents (60 percent vs. 42 percent total). However, even among the retired, only 32 percent of respondents have discussed their retirement goals and only 54 percent have discussed current investments or investment goals. According to those who conducted the survey, this may be a by product of generational differences in how finances are addressed.

Hiding Financial Information
Nearly eight out of 10 respondents have never hidden financial information from their spouses or partners. The most common hidden financial information includes debt and savings/checking accounts. Students and full time/self-employed respondents are more likely to have hidden savings/checking accounts. Women are more likely to hide financial information from their spouses/partners (20 percent of females vs. 14 percent of men). Men are less likely to hide debt when compared to the total population (7 percent vs. 10 percent of total respondents).

Arguments Abound
A quarter of respondents with income disparities claim to have no disagreements over personal/household finances. Nearly four in ten respondents over the age of 55 with income disparities report they have no disagreements over finances with their partner. Respondents in the youngest age bracket with income disparities (18-34) are most inclined to report that at least half of their disagreements are about money (40 percent vs. 28 percent total).

Respondents are almost equally split between those who say they argue about money/finances and those who do not. Among those who argue about finances, respondents argue most about irresponsible spending and not saving enough. Nearly 50 percent of married/partnered respondents claim to not argue about money (compared to 25 percent of married/partnered respondents with known income disparities).

More male respondents claim to argue about money than female respondents (56 percent vs. 47 percent). Additionally, nearly a quarter of male respondents claim to argue about irresponsible spending (compared to 16 percent of females). Over fifty percent of female respondents claim they do not argue about money (53 percent of females vs. 44 percent of males).

gaywired.com