Color of Money: Talk is not cheap when it comes to love and money.

Michelle Singletary on

WASHINGTON -- Valentine's Day spending is hyped as a way to show your love.

But one way to truly have a successful, loving relationship is to have frank, regular discussions about your finances. Bare your financial soul to your soul mate.

Yet many individuals aren't honest with their significant others. Roughly 1 in 5 couples have a credit card or bank account that their partner doesn't know about, for whatever reason, according to a recent survey.

Millennials are almost twice as likely as older adults (28 percent versus 15 percent) to not disclose a checking or credit card account.

Financial infidelity can damage a relationship. In my experience working with couples, many say that financial unfaithfulness is just as bad as physical infidelity.

Here's one way to help the love last in a committed relationship: Talk about money.

And to help get the conversation started, I'm recommending for this month's Color of Money Book Club the "Official Money Guide For Couples," by Susan and Michael Beacham.

The Beachams have been married for 30 years. They both worked in financial services, and they took their experience and founded Money Savvy Generation, a financial-education company.

"Truth is, it's much easier for most couples not to talk about money, at least early in their life together," the Beachams write. "For one thing, it's about as far from being romantic as any conversation can be. And as compatible as two people are in most ways, there's no guarantee their ideas about how to spend and what to save will align."

But how's not having candid conservations working for you?


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