Knowing someone inside and out these days means more than just their hobbies and favorite vacation spot. According to a new report from the Chase Slate 2017 Credit Outlook, married millennials are more likely to know their partner’s credit score than previous generations.
An impressive 58 percent of all married millennials know the low-down on their significant other’s financial health, as compared to 44 percent of married Gen Xers and 38 percent of married Baby Boomers.
This is significant because it means more soon-to-be betrothed couples are talking openly about their finances, which is in and of itself no easy task. The same report reveals that 34 percent of Americans prefer not to talk about money matters until they know that the relationship is turning into something serious.
A discrepancy even exists between how men and women talk about numbers; only 1 percent of women are game to talk about finances on the first date, while more men—a more significant 15 percent—wouldn’t mind talking about their financial status upon first meeting.
One reason why it may be tough for committed individuals across generations to chat about finances? The study also shows that high credit card debt is a deal breaker for 37 percent of the American population. Meaning, learning that your sweetheart’s got a few issues with the bank could be reason to feel less secure about the relationship.
Moral of the story: talking about finances is never an easy task, but based on research, it appears as though opening up about it once a relationship is more serious does seem to be the trend.