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Couples who can show proof that they completed marriage counseling get their marriage license for a bargain price at the Oklahoma County Court Clerk’s office.
The usual $50 fee is reduced to $5 with proof of counseling, said Joe Woods, supervising deputy for marriage licenses and passports.
Valentine’s Day normally signals an increase in couples making an appointment to get a marriage license, although with Feb. 14 falling on a Wednesday this year it might not be so busy, Woods said.
“When it’s on Friday or Saturday that whole week is booked. It’s definitely a big jump,” he said.
The day of the week mattered less before 2007 when couples could get their license and then have a judge marry them on the spot, Woods said.
Marriage counseling may point to a better chance for happily ever after, but so can sharing a bank account, according to a new report from MarketWatch.
MarketWatch Guides looked at academic research, talked to some of the country’s foremost experts on personal finance and relationships, and conducted a 2,000-person survey in January about banking practices and attitudes among married individuals.
The team found that respondents who used only joint bank accounts were the most likely (60.3%) to say that they were “very satisfied” with their relationships. More than half (55%) also said they never fight about money.
Only 39% of partners who have separate personal accounts can say the same thing. People who used personal accounts only were the most likely (10.6%) to say they argued with their partner three or more times per week about financial issues.
The report says the single most common reason respondents listed for financial fights was “not adhering to our budget,” at 25.5%. “Splurging on things we can’t afford” was only slightly behind at 24.3%. Other issues included unequal involvement in managing finances, dishonesty about what money is spent on and which partner makes more money.
Megan McCoy, assistant professor of personal financial planning at Kansas State University, told the MarketWatch Guides team that choices around money are often substantial issues among couples. “Long story short, all big financial decisions have a big impact on relationships,” McCoy said.
Financial conflict is responsible for most divorces, said Edward Horwitz, chief risk officer at Creighton University. He said that research indicates that 80% or more of marriage dissolutions are due to money stressors.
Financial experts from universities around the country were in unanimous agreement that merging finances is a healthy practice for couples in most cases, according to the report.
“For married couples, one of the best financial decisions they can make to help their relationship grow is to decide to share financial decision-making power equally,” said Jeff Dew, associate professor at Brigham Young University.
When both spouses have equal say in creating a household budget, they will feel that things are fair in their relationship and that they have an equal stake in making the budget work, Dew said.
But while academic research and experts agree that joint banking is often a beneficial move for couples, that isn’t always the case.
Dew said that complicated finances and other circ*mstances within some relationships could mean that keeping finances separate is the more manageable banking setup.
“There are always exceptions,” he said. “For example, if one spouse has some type of addiction — such as a substance abuse addiction or gambling addiction — then keeping finances separate would be important.Also, there is some research that suggests that those entering a second or higher marriage do better by keeping at least some of their finances separate.”
