Love letters: Couples more likely than singles to have written financial plans, save more – BenefitsPro

It’s been said that money can’t buy love, but apparently love can make people think more seriously about their money. Only 14 percent of single, divorced or widowed Americans have a written financial plan, compared to 24 percent of married or partnered households.
“Domestic partnership naturally involves more conversations about money, especially short-term spending,” said Laura Varas, CEO and founder of Hearts & Wallets. “About 40 percent of couples actively engage in long-term planning, such as for retirement. It’s time for single self-care to include creating a plan for a solid financial future. Good plans include a broad range of financial topics, including living expenses and detail on saving and asset allocation by account type.”