Put Your Money Where Your Marriage Is
PUT YOUR MONEY WHERE YOUR MARRIAGE IS SECRET SPENDING AND THE GENERATION GAP .......... Generation Y* Baby Boomers** 70% 59% ***....... 60% ********** 50% 45% 45% 41% ... ....... .... *..... 40% 31% 30% 24% 22% 20% 18% ...... 20% 17% 17% ................... 10% 7% Misrepresent amount of purchases Secret account or card Not forthcoming about credit score Buy something partner doesn't agree with Hide purchases Do not disclose debt Generation Y are born between 1981 and 1991| ** Baby boomers are born between 1947 and 1964 YOUNG LOVE, MORE PASSION Couples living under the same roof have a hard time avoiding tension, especially when it comes to finances and spending. DISCUSSIONS ON HOUSEHOLD FINANCES LEAD TO ARGUMENTS: 45% General Population lover 18) Affluents (household income $100k+) 72% Young Professionals lunder 30, household 44% income $50k+) AVERAGE THRESHOLD PRICE AT WHICH COUPLES SAY THEY NEED TO CONSULT WITH DID YOU SAY I DO TO DEBT? THEIR PARTNER BEFORE MAKING A PURCHASE: 43% 20% II ir $275 General Population $395 Affluents 20% of couples over the age of 18 keep some or all of their debt separate from their spouse, compared to 43% among young professionals. $249 Young Professionals Additionally, 31% do not know how much debt they carry as a couple, married or unmarried. WHO SPENDS MORE: SPENDING BY U.S. HOUSEHOLD Most couples pay their bills together. 66% pool their resources, while the other 34% divide their bills equally 66% 34% each month. Pool Resources Divide Equally Married without children in household Single male, no children Single Female, M no children Average U.S. household $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 $6,793 $5.655 $4,448 FOOD AND DRINK $6,514 $5,681 $4,825 $3,166 GETTING AROUND $5,477 $7,019 $5,593 $4,721 HOUSE AND HOME $6,398 $8,870 $6,093 $6,187 SHOPPING $8,668 $9,002 $6,297 $5,684 HEALTH AND FAMILY $8,026 $2,939 $2,276 $6,187 TRAVEL AND LEISURE $2,699 Source: americanexpress.comI money.bundle.com DEALS C
Put Your Money Where Your Marriage Is
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