Seven in 10 Americans believe that serious discussions about financial goals should take place before two people start living together or marry, according to research released Tuesday by Northwestern Mutual.
Forty percent of millennials and 32% of Generation Z say these conversations should occur even before a relationship becomes serious.
"The rules for relationships are changing," Christian Mitchell, chief customer officer at Northwestern Mutual, said in a statement. "First comes love, then comes real talk about financial dreams and debts, and then comes long-term commitment.
"A candid conversation about money can help a couple to fall in love with the future, too. Finances play a major role in many relationships, and more partners want to be on the same page before taking the plunge."
The findings came from Northwestern Mutual's 2023 Planning & Progress Study, which The Harris Poll conducted between Feb. 13 and March 2 among 2,740 U.S. adults.
Financial Compatibility Ages Well
The survey found that 35% of respondents overall consider financial compatibility more important than physical and intellectual compatibility. This rises to 40% for millennials and leaps to 49% for Gen Zers.
"These findings put a new twist on what it means to have good chemistry between partners," Mitchell said. "It is clear that all Americans, especially Gen Z, see financial compatibility as one of the core ingredients of a solid match."
