The company surveyed nearly 1,000 Gen Zers and millennials who are married, engaged, or in a relationship
According to the study, about 74% of partnered millennials and Gen Zers were angry with their partner over a financial decision they made. At the same time, 15% have not yet discussed debt with their partner.
The research highlights two main factors of the argument: the partner made a large purchase without telling them (31%), or spent a lot of money on what the respondent considers frivolous (30%).
When asked what part of their relationship is the most difficult in terms of money, 30% answered that each partner was brought up with a different view of money. The other most frequent responses were the following: one partner earns much more than another (19%), with one partner saving and the other a spender (17%).
Gen Z couples and millennials are saving money for the future. Indeed, 57% save for a home and 46% for children. Moreover, 38% of those in a relationship but not engaged save money for their wedding.
Nearly one in seven (15%) Gen Z and millennial couples do not discuss the debt. This rises to almost a third (32%) for those who do not live together. Even 8% of married couples never talked about debt.
At the same time, almost a quarter (24%) of married Gen Z and millennials still have separate bank accounts.
The hardest part of working with finance was because the partners grew up with different points of view of money.
We’ve reported that half of the Baby Zoomer say they are now paying more attention to buying their first property than before the pandemic.