The division of cognitive labor means that the person not in charge of a particular task doesn't necessarily acquire additional knowledge about that task. (Photo: Shutterstock)Both partners in a couple have a financial need to know, and offloading the responsibility for joint finances onto one can cause problems.
That's among the findings of a study in the Journal of Consumer Research that examined the poor state of financial literacy and questioned why financial education seems to have so little effect in making people make better financial choices.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
