With Valentine’s Day behind us, and the temptations of “Spring Fever” ahead, it’s an appropriate time to think about the topic of relationships and finance. An interesting study conducted by TD Bank in 2015 reveals these money stats:
- Among respondents who said they talk about money at least once per week, 42 percent described their relationship as “extremely happy,” compared with 27 percent of those who talk about money less than once per month, and 38 percent of all respondents.
- Nearly three quarters (73 percent) of millennials (ages 18-34) in relationships talk about money with their significant other at least once per week, compared with only 61 percent of all survey respondents.
- Women find talking about money more important to a happy relationship than men do: 75 percent of female respondents feel that it’s “very important,” compared to 67 percent of male respondents.
The survey was fielded May 28th – June 3rd, 2015. The total sample includes 1339 respondents who are in a relationship (not single). A link to the full study can be found here: Love and Money Study
What do these numbers tell us? Couples who have an open dialogue about finances tend to report happier relationships! That doesn’t mean they don’t argue, but it does point toward the positive power of open communication.
More on this topic to come… Happy Spring!