Having a Significant Other Reduced Financial Strain During the COVID-19 Pandemic

Utilizing data collected from the 2021 Perspectives on the Pandemic Survey (n = 6,916), part of the Health and Retirement Study, this article examined the role of having a significant other on subjective and objective measures of financial strain during the COVID-19 pandemic. When controlling for income, net worth, employment status, and demographic characteristics, the empirical results suggest that those who had a significant other, compared with those who did not, experienced less financial strain during the COVID-19 pandemic. The ensuing discussion highlights the importance of the protective role of having a significant other in financial health and offers pragmatic implications for financial practitioners.