TORONTO, Nov. 5, 2013 /CNW/ - A national survey conducted for the
Chartered Professional Accountants of Canada (CPA Canada) reveals a
high level of trust and shared responsibilities among spouses or
partners when it comes to managing household finances.
Virtually all respondents (96 per cent) are comfortable talking about
financial matters with their spouse or partner. In fact, 92 per cent of
those surveyed said they trust the money decisions made by their
"It was very encouraging to discover that more than 80 per cent of the
respondents discuss household finances regularly with their spouse or
partner," said Nicholas Cheung, CPA, CA, a director with CPA Canada.
"Open lines of communication are important to make sure that couples
are on the same page when it comes to money management."
Ninety-four per cent of the respondents felt that speaking openly about
money signifies a strong relationship. A majority of respondents also
cited a number of money matters that were being equally handled:
85 per cent felt making a major purchase was a task equally shared
58 per cent felt the same way about monitoring the household budget
56 per cent had the same opinion about managing financial investments
In addition, 50 per cent of respondents felt that managing day to day
banking was equally handled and almost half (49 per cent) felt the same
way about ensuring the tax returns were filed. Still in line with those
findings, 46 per cent of those surveyed felt that ensuring the bills
were paid was equally split.
"What emerges from the findings is that in so many ways managing the
household finances is really a joint effort," noted Cheung.
Sixty-nine per cent of respondents stated their spouse or partner had
shared with them the personal identification number (or PIN) for at
least one credit or debit card. In addition, 70 per cent of those
surveyed said they set a household budget together with their spouse or
"It makes sense to work together on establishing a household budget,"
explained Cheung. "Not only does it help to keep the lines of
communication open but spending time managing your household finances
can go a long way in reducing stress and providing some peace of mind."
There are challenges associated with money management and the survey
findings reflect that. Almost four in ten (37 per cent) of those
surveyed said they had argued over money with their spouse and partner.
The CPA Canada 2013 Spouse/Partner Financial Survey was conducted by Harris/Decima via telephone between October 10 to 16, 2013 with a national random sample of 634 adult Canadians aged 18
years and over who have a spouse or partner living in their household.
The survey is considered accurate to within ± 3.9 per cent, 19 times
out of 20. A survey summary report is available online at www.cpacanada.ca/2013managingfinances.
About CPA Canada
CPA Canada is the national organization established to support
unification of the Canadian accounting profession under the Chartered
Professional Accountant (CPA) designation. It was created by the
Canadian Institute of Chartered Accountants (CICA) and The Society of
Management Accountants of Canada (CMA Canada) to provide services to
all CPA, CA, CMA and CGA accounting bodies that have unified or are
committed to unification. As part of the unification effort, CPA Canada
and the Certified General Accountants Association of Canada
(CGA-Canada) are working toward integrating their operations.
Unification will enhance the influence, relevance and contribution of
the Canadian accounting profession both at home and internationally.
SOURCE: CPA Canada
For further information:
or to arrange an interview, contact:
Tobin Lambie, principal, media