While money is still a taboo topic for many, on the whole, millennials are distinguishing themselves from prior generations by talking about finances far more openly. According to TD Bank’s fifth-annual Love and Money Survey, 94% of millennial couples discuss finances at least once a week, a 21% increase since 2015. And with all that talk comes the occasional argument; 40% of those same millennial couples fight about money once per week, compared to only 14% of Gen X'ers and a mere 5% of baby boomers.
But here’s the thing: Even when financial transparency does lead to a dispute, it’s still the more productive route over shoving budget concerns under the rug — keeping quiet about embarrassing purchases or hiding unwanted debt from a partner isn’t healthy.
If you’re wondering when, exactly, couples first address the cash-flow question, how often they do it to remain transparent, or what kind of money mistakes can hinder a relationship, you’ve come to the right place. Below, we’ve illustrated the most telling data points from TD Bank’s survey to help define why it’s so important to talk about money and how millennials stack up against other generations when it comes to financial honesty.
When we confront seemingly taboo topics for the sake of transparency, our relationships are better because of it — and that clearly includes cash flow. For more on when millennials are talking about when it comes to money, and what they value within those conversations, check out the full findings from TD Bank’s Love and Money survey here.