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How Money Worries Are Affecting Older Couples’ Relationship?
Short Abstract
Using the Health and Retirement Study, the present study found that financial strain affects couple functioning. Specifically, subjective financial strain was positively associated with partner undermining and negatively with partner support, controlling for objective financial strain. The effects of financial control on couple functioning vary depending upon the levels of financial strain that individuals are experiencing. Financial control is associated with couple behaviors in a positive way when financial strain is low. However, when financial strain is high, the positive effect of financial control disappears and the effect changes even in a negative way—partners with high financial control experience partner undermining more than those with low financial control in times of high financial strain. Implications for researchers, financial educators and counselors are discussed.