1 in 4 couples wait until after marriage to discuss debt and financial issues, survey finds
The financial benefits to getting married
Experts say married couples can qualify for better credit and better terms on their loans, among many other financial benefits.
A new survey is shedding light on key behaviors that foster trust and long-term financial health in marriage.
A survey, conducted by Western & Southern Financial Group, asked more than 1,000 Americans about their spending habits and financial goals. Among them, 80% were married, and 20% were divorced. The data was collected in December 2024.
More than 20% of Americans have never discussed debt
By the numbers:
The survey found that 21% of married Americans have never discussed debt with their spouse, and more than 1 in 4 (27%) have waited until after marriage to address it.
In addition, nearly one-third (28%) of married Americans admitted to hiding significant purchases or debt from their spouse, and 40% said they would end a relationship due to financial dishonesty.
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Married couples with joint savings accounts report the highest marital satisfaction (94%), compared to those with only personal accounts (82%). In fact, divorced Americans are over three times more likely to suggest keeping their finances separate than married Americans (25% vs. 8%).
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What they're saying:
"While financial transparency is crucial for a healthy marriage, many couples delay discussing key topics until after tying the knot. From life insurance and retirement savings to joint checking accounts and debt, these delayed conversations can impact both short-term decisions and long-term financial security," the survey authors wrote.
Financial topics couples delay discussing until after marriage
Investment advisor suggests couples have conversations about money
Dig deeper:
Abby Reed, an investment advisor who counsels couples, told FOX 5 Atlanta that she encourages those newly engaged to have a truthful, heart-to-heart conversation about money before the wedding. Better now than later when your first hard money talk may arise from a squabble.
"I really encourage people to be fully transparent before going down the aisle," she said.
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The co-CEO of Reed Financial Group said transparency means sharing goals, revealing debt, learning differences, and discussing investments and paychecks. To make it work, both sides have to be very honest.
"With any relationship," she said, "transparency and trust in a relationship are the key to a financial conversation that maybe you haven't had yet."
The Source: The information for this story was provided by Western & Southern’s survey, FOX 5 Atlanta and previous FOX TV Stations reporting. This story was reported from Los Angeles.