Pandemic Makes Couples' Money Talks Easier
Number of the Day: The most relevant or interesting figure in personal finance
That's the percentage of U.S. adults who find it easier to talk to their partner about money because of the pandemic, according to new survey findings from TD Bank.
Despite the economic damage caused by COVID-19, one silver lining is that financial discussions are easier for many couples, TD Bank said in releasing the survey findings Tuesday. Taken in December, the survey polled 1,709 adults who are married, in a committed relationship, or divorced, to better understand how they approach finances in their relationships.
“Even with the clear financial set-backs imposed upon Americans by COVID-19, we’re seeing money conversations increasing among couples and the stigma around discussing finances diminishing,” Mike Kinane, head of consumer deposits, products, and payments at TD Bank, said in a press release.
People are also hiding things a little less, with 11% of respondents saying they kept financial secrets from their partners, down from 13% in 2019. Still, none of this means the conversations are easy. Of the 86% of couples that discuss money at least monthly, some 30% devolve into financial arguments, the bank said.