![]() until recently, there are fewer norms or role models for LGBTQ+ couples to use as a guide. ![]() Since same-sex marriage wasn't even an option in the U.S. 28%), and they are also less likely to strongly agree that they and their partner have an equal say when it comes to overall financial decision-making. LGBTQ+ couples are less likely than non-LGBTQ+ couples to have one person completely managing everyday expenses (18% vs. However, this decision is not set in stone for many – 78% said that this responsibility has shifted at least slightly over time, often due to a change in financial knowledge/experience or a shift in availability. Interestingly, more than a third said it just happened to work out that way (37%), while others said the decision was based on who had more time (33%) or made more money (30%). Respondents were most likely to say that the most financially knowledgeable/capable of the two is the one managing the finances (43%) followed by the couple having a conversation about it (39%). When it comes to running the day-to-day finances, one-third of couples report that they share management responsibilities with their partner, leaving the other 67% who has one partner managing most or all of the finances. But, with the majority having negative sentiment about the lack of equal say in financial decisions, it's important that each partner is listening to the concerns of the other and ensuring that both voices are heard and considered. However, 37% believe it has no effect and 9% say it has a positive effect on the relationship, showcasing the fact that what works for some might not work for others. Among those who, on any level, say that financial decisions aren't made with equal say, 45% believe it leads to an imbalance in other areas of the relationship and 29% say it causes friction. According to our data, 50% of respondents strongly agree that they have an equal say in financial decisions with their partner, while the other 50% indicate that one person has a larger voice than the other, at least to some extent. Setting the financial stage and establishing expectationsĪ step most serious relationships must take is determining how the finances between two partners will be arranged. 10% indicate that it is somewhat or very difficult words and phrases used to describe reasons behind the difficulty include "awkwardness", "different values", and "poor communication." So, though its not always a cake walk, having the finance-related conversations as often as needed is crucial to maintain a healthy relationship. When it comes to talking about money, 76% couples find it very or somewhat easy to discuss money and finances with their partner. There are many reasons for this confidence difference including that for a long time women had more limited career opportunities and even today continue to be underrepresented in certain industries and senior roles. So, what's the key takeaway? Perceptions around financial confidence still see a gap when looking at gender. Not only do men report feeling very confident in their ability to make smart financial decisions more often than women do, but they are 7% more likely to feel very confident in their partner than women are in themselves. 41%) and "find a career that will make me happy" than females did (50% vs. Males reported higher confidence levels in themselves to "make smart financial decisions" (51% vs. ![]() When looking at where consumers show especially strong confidence (saying they are 'very confident'), notable differences emerge between males and females in heterosexual relationships for certain statements. Given current global events/economy, it's not surprising that there was a bit lower agreement about keeping stress levels low (75% "very or somewhat confident"). Fortunately, data shows at least 84% of couples feel 'very or somewhat confident' in both themselves and their partner to "maintain long-term happiness in a relationship" and "find a career/job that will make me happy". There are many factors, which can impact someone's overall outlook when it comes to finances, including relationship and job stability, overall stress level and more.
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