What Millennial Couples Do Better Than Their Parents

What Millennial Couples Do Better Than Their Parents

If you’re a Millennial, then you're probably already familiar with your generation's financial reputation: You’re a job hopper with student loan debt who can't save, and needs to dip into the bank of mom and dad to help cover basic expenses like rent.

It's a stereotype that implies Millennials aren't great with managing their money. But it turns out they're a lot better than their parents when it comes to at least one aspect—being financially honest with a spouse or significant other.

A new poll from credit information site creditcards.com found that 12 million Americans (about one in 20) have a hidden bank account or credit card that their partner doesn’t know about. What's more surprising, however, is that Baby Boomers are more likely to keep these secrets than their younger counterparts.


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According to the survey, Boomers are about twice as likely as Millennials to admit to spending $500 or more without telling their partner, at 39% and 20%, respectively. But they also seemed more cool with not keeping close tabs on their sweetheart’s spending: 42% of respondents ages 50 to 64 and 36% of those 65 and older said it was acceptable for their partner to spend this amount without telling them—but only 24% of survey takers between 18 and 29 were okay with surreptitious splurging.

Findings from the 2016 Money Habits & Confessions Survey by LearnVest seem to support the idea that money is a relationship sticking point for younger people: 77% of Millennials confess that finances are a bigger source of tension with their partner than their sex life—so much so that 37% of them have ended at least one relationship due to a money disagreement (compared with just 14% of Boomers). And 53% of Millennials say they would rather be single forever than have a spouse they felt was financially irresponsible.

If you're part of this much-maligned generation, give yourself a pat on the back. You and your cohorts seem to get that money can be a potential roadblock to a romantic relationship, so here are a few tips on how to have the money talk with your significant other.

RELATED: 6 Financial Questions to Cover Before You Tie the Knot

We know money isn’t the most comfortable thing to talk—or even think—about. So we’re here to help! Save your goal and we’ll help you stick with it at learnvest.com/havethetalk!


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