The money talk, that is.
Millennials are better at discussing their finances with significant others than older people in relationships, according to a new study from NerdWallet. Young people between the ages of 25 and 29 are more likely to talk about important financial issues with their partners and to prioritise this conversation before moving in together.
From a survey of 544 never-married adults, personal finance site NerdWallet found that 98% of millennial respondents said they had discussed finances at some point in their relationships. That far exceeded the 13% of respondents ages 30 to 44 who said they have never discussed money at all.
“The emphasis on money varies with age and circumstances,” Anisha Sekar, a credit card analyst at NerdWallet, said in a release. “Millennials may want to have the ‘debt talk’ out of the way, while an unmarried 40-year-old couple might feel more secure in each individual’s stability.”
The millennial inclination to discuss finances in a relationship is just another indication that America’s 20-somethings aren’t as self-indulged and frivolous as they’re made out to be.
Quite the contrary, investment banking company UBS released a report earlier this month stating that millennials are the most financially conservative generation to come around since the Great Depression. They are far more risk averse when it comes to investing and are more likely to believe that hard work and saving money are keys to long-term financial success.