There’s no doubt money can cause some major problems for couples, but it doesn’t have to. Well, as long as folks actually talk about the issue. In fact, the annual TD Bank Love & Money Survey finds that 78% of couples who talk about money once a week say they are happier, as compared to 50% of couples who discuss money every few months. What’s more, 42% of couples say the biggest mistake they made in their relationship was “waiting too long to talk about money.”
And it’s pretty apparent that Millennials aren’t afraid to talk about money with their significant others. The survey found that 74% of them say they talk about finances weekly, with 48% of those who have used an online dating service noting that they’ve talked about money before even meeting a perspective date. Money is actually a pretty big issue when it comes to dating, with 44% of people saying they likely wouldn’t date someone with credit card debt.
But even though Millennials are willing to talk about money, whether they’re being honest is another story. The survey found that while 20% say they’d break up with a partner because of a financial secret, an additional 20% said they are keeping one themselves.
What’s more, 15% of those with a financial secret say they have no plans to reveal it. As for the most common financial secrets amongst all generations, they include: a secret bank account (48%), significant credit card debt (37%) and a bad credit score (32%)
Source: TD Bank