Money is often a leading source of conflict for couples due to a fear of financial communication. That is why John Hancock is out with a new app to help ease the communication and planning around saving and spending money.
Steve Dorval is the head of innovation at John Hancock. He joins Cheddar to talk about their new app and why couples have such a hard time with finances.
Dorval explains that many individuals are fearful to save and talk about money on their own, so when it comes to doing so with a partner, they often have even greater difficulty. John Hancock wanted to create an app that simplified this process.
Dorval shares some saving hacks. He says couples should pick something and then just get started. Pick a goal that you are emotionally invested in. A lot of couples get started by saving for a mortgage or their dream vacation.
People are using apps more than ever to help manage and save their money, and it's hard to know which ones work best. We recently sat down with Insider financial correspondent Jennifer Streaks to help us break down some of the best apps out there right now.
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