A new survey by personal finance software company Quicken shows that when it comes to money, most couples don’t want to talk about it.
More than 1,000 adults were asked about how they handle finances with their spouse or partner.
Talking about money is hard
- Only 43 of people tell their partners how much they make
- Nearly a third of people (31%) said that talking about money made them feel anxious.
Talking pays off
- Those most confident in their path to retirement talk about money with their spouse/partner.
- 25% of financially secure people say talking about finances leads to a spike in their overall confidence.
- 32% who lack confidence in retirement plans say that money talk is a blow to their spirits
Money talk can be romantic
- More than half (51%) of millennials say they’ve talked about personal finance on a first date
- Only about a quarter (27%) of General X’ers have talked money on a first date.
- Baby boomers stick to traditional topics. Only 8% have talked finances on a first date.
Conversations are key
- Don’t avoid the conversation. Couples who discuss and agree on financial issues reporting being happier.
- Choose the right time to talk. Plan a monthly meeting to review your financial picture.