Money Fights: One in three (34%) partnered Americans identify money as a source of conflict in their relationship

Chicago, Illinois, February 9, 2024 — A new Ipsos poll conducted on behalf of BMO reveals that one in three (34%) partnered Americans view money as a source of conflict in their relationship, a figure which rises to almost half (47%) among the youngest (18–24-year-olds) partnered Americans. More than one-third think their partner spends too much money on impulse purchases (37%) and/or admit they are untruthful about money with their spouse (36%), which may also be driving some of this conflict, though half (49%) of Americans more generally confess they often spend more than they know they should. It is noteworthy that younger Americans tend to be a little more untruthful about money, with their spouse, on average (18-24: 46%; 25-34: 43%).

Despite the occasional money fight, the vast majority (84%) of American couples are on the same page with their partner, when it comes to finances, with almost nine in ten (87%) indicating that they are comfortable discussing finances with their partner, emphasizing open communication. When evaluating their partner’s finances, Americans say they are (or would) be most concerned about their partner’s mortgage debt (41%), followed by credit card debt (36%), and credit scores (35%).

Four in five (79%) Americans think finances should be discussed somewhat early in the relationship – one in ten (9%) think this should happen after the first few dates, two in five (39%) when the relationship becomes official, and about one in three (31%) when the couple is planning on living together. Notably, one in six (16%) think finances should be combined almost immediately – as soon as the relationship becomes official – though almost as many (14%) think it’s never appropriate to combine finances.

Considerable proportions of those who are in a relationship designate one party to handle specific financial tasks – more than two-fifths (43%) say one partner pays the monthly mortgage payment. Half (51%) assign one person to handle credit card bills. Majorities indicate that one person handles other expenses such as utility (59%) and grocery bills (52%). Three-fifths (59%) of those who are in a relationship perceive their partner as being a saver or frugal.

Brighter economic days ahead?

The survey data offers some economic optimism for the coming year as evidenced by the fact that three-quarters (76%) report feeling confident about their finances in their ahead. This figure represents a two-point increase, compared to Q4 2023. Additionally, most say they feel in control of their finances (76%) and/or express confidence regarding their current financial situation (71%). What’s more, a majority (52%) indicate that, over the past 3 months, they have become less concerned (17%) or their level of concern remains unchanged (36%), regarding the prospect of an economic recession.

About the Study

These are the findings of an Ipsos survey conducted on behalf of the BMO. Fieldwork was conducted between January 2 and 19, 2024. A total of n=2,500 Americans aged 18+ participated in the survey which was fielded via the Ipsos’ panel. Quotas and weighting were used to ensure the sample's composition reflects that of the American population according to census parameters. This survey has a credibility interval of +/- 2.4 per cent 19 times out of 20, of what the results would have been had all American adults 18+ been surveyed.

For more information on this Factum, please contact:

James Cottrill
Senior Account Manager, Ipsos Public Affairs
+1 416 324 2900
[email protected]

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