AUT study for toolkit for healthy financial relationships
Talking about money and debt remains difficult for most New Zealanders and the Debtfix Crew wants to see this changed.
We were interested to read about a new research project at AUT, which is investigating how to improve the way we talk about money with our significant others.
The researcher, AUT Business School’s Dr Ayesha Scott, needs individuals to participate in a confidential study about talking constructively with their romantic partner about money.
Why we need to talk about money
Not having open and honest conversations about money with our romantic partners can lead to:
conflict,
increased stress,
missed financial opportunities,
lower retirement outcomes, and
poorer financial decision-making.
It is known that poor financial decision-making leads to increased financial hardship, barriers to adequate healthcare, unhealthy housing, housing instability, poorer dietary choices, under-insurance, and lower financial resilience, among others. Each directly impacts the health outcomes of all New Zealanders, including children.
Household finance is often an uncomfortable topic for Kiwi couples and families to discuss because money talk is taboo. A recent Commission for Financial Capability (CFFC) survey found one in five New Zealanders had relationship difficulties due to financial concerns.
The research team recognises that not all cultures and people in Aotearoa see money in the same way, so tools to improve money conversations need to flexible to fit our diverse population. Ultimately, the researchers hope to help New Zealanders become more comfortable talking to their partners about money matters, and shift Aotearoa’s awareness and understanding of financial abuse.
“Kiwi don’t talk about money. Our project addresses this important, yet under-explored gap in current social, health and finance research,” says Ayesha.
“It recognises the complexity of the problem, and places finance into the ongoing intimate partner violence dialogue in New Zealand alongside health, social, law and justice. We aim to overcome the money taboo and ongoing inequality in our community, starting with New Zealanders’ closest relationships.”
To break down our money taboo, AUT and Good Shepherd have developed an online toolkit to teach Kiwi how they can talk constructively about money with their loved ones. The hope for the study is to allow participants to test the toolkit and share their experience with having money conversations in their relationships.
Can you participate in the study?
If you would like to participate, please contact us to attend a focus group. The study is particularly looking for individuals, rather than couples. Participation involves a two-hour focus group and a follow-up survey, and you will be paid a notional amount for participation. What you share with the group will be confidential.
Talking about money is important for healthy relationships. Please consider sharing your views on the toolkit to build healthier financial relationships for New Zealanders.
CONTACT: Dr Ayesha Scott, ayesha.scott@aut.ac.nz, 09 921 9999 ext 5617