Financial Planning Linked to Stronger and Richer Relationships

People who regularly discuss their finances with their partner are more likely to be fulfilled and optimistic in their relationships than those who are not, according to the 2017 Pru Life Relationship Index (PRI), an in-depth survey that investigates key factors influencing the strength and sustainability of personal relationships in the Asia-Pacific region.

“We observed a strong link between financial planning and good relationships,” says Allan Tumbaga, Pru Life UK SVP and Chief Marketing Officer. “Moreover, those who plan with their significant others expect their love lives and finances to improve in the next five years.”

Show me the money

Couples who regularly plan their finances, based on the study, were found to be more satisfied with their relationships. On average, they post a relationship score of 81/100—which means that their partnership fulfils 81% of their desired needs—compared to the 63/100 posted by those who don’t regularly discuss money matters.

Despite the advantages of joint financial planning, however, Filipino couples still have a long way to go in terms of financial openness and management, compared to their other Asian counterparts. According to the survey, only 34% pool their resources together. Further, while 58% disclose all money matters to their partners, only 45% hold meetings.

Finances and optimism

Apart from finding more fulfilment in their romantic partnerships, couples who plan their finances together also exhibit a more positive outlook.

89% of planners expect their financial status to improve in five years and 82% believe that these meetings will make their love lives even better. In contrast, among couples that plan separately, only 74% are optimistic about their finances, and 64% feel secure in their relationship.

Over-all, Filipinos seem to recognize the role of healthy finances can lead to better relationships, with 63% believing that professional advisory services can provide an added boost to their relationship.

A partner for financial stability

To help couples looking to help them plan their finances—and future—together, Pru Life UK offers PruLink Elite Protector. An “insuravest” plan—one that combines insurance and investment—the Elite Protector offers security while providing an opportunity to build an investment portfolio at the same time.

With it, customers can choose from different payment terms that match their budget—5, 7, 10 or 15 years—while having greater potential for investment returns and a higher allocation of their premium on the investment component. Moreover, it provides the choice of where to invest portions of one’s premiums from Pru Life UK’s extensive fund portfolio.

“Pru Life UK is motivated to extend our products and services to more Filipinos, so that we can help solidify more relationships and secure their financial future,” says Tumbaga.