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WHO HOW MANY ACCURACY WHEN HOW
Married Adults
Nationwide
n=1,010
Margin of Error =
± 3.1%
Data Collection
Occurred
April 16-19, 2014
Online Survey
Methodology
Results are compared with those of an online survey of n=1,000 unmarried adults ages
30-49 nationwide was conducted June 12-17, 2013.
Methodology
3. 3 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
• Married couples value an open dialogue about finances; most discuss their financial goals at
least once per month
• Married adults are more apt to discuss large investments than small, everyday purchases. The average
amount of money they will spend before discussing it with their spouse is $812.
• Women and post-recession couples – those married after the 2008 recession – place greater value on
financial dialogue and are more likely to discuss smaller-ticket items with their spouse.
• Half of married adults say that credit scores were important to them when choosing a spouse
• Credit scores were most important to women and to post-recession couples.
• Half of married couples agree that credit played an important role in their marriage when securing a home
loan or getting a good interest rate.
• Credit scores are the only financial topic that couples do not discuss before their wedding
day
• One in ten married adults have never discussed credit scores with their spouse.
• Post-recession couples are more apt than those wed before the 2008 recession to discuss credit scores
with their spouse before tying the knot.
• Credit scores are a source of stress in one in five marriages.
• Spouses who discussed credit scores before getting married are more likely to agree on how to use credit
as a couple.
• One in ten married couples have been affected by identity theft (14%), have needed a co-signer after their
wedding day (11%) or have needed to borrow money to avoid faulting on debt (11%).
Key Findings
5. 5 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
98% 95%
86%
77%
98%
93% 90%
81%
Personality
Compatibility
Financial
Responsibility
Physical
Attractiveness
Career Ambition
Attribute Importance
(Shown: % Important)
Married Unmarried
Married adults value financial responsibility more than physical
attractiveness in a spouse
Q7: How important are each of the following attributes [when considering a long term romantic partner] / [in a spouse]?
(Shown: % Important)
Personality
Compatibility
97% 98%
Financial compatibility 94% 96%
Physical Attractiveness 87% 85%
Career Ambition 69% 86%
Attribute Importance by
Gender Among Married Adults
6. 6 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
98% 97% 96% 95%
77%
69%
44%
83%
95%
91%
95%
78%
63%
45%
Family
goals
Life goals Finances Sex &
intimacy
Career
goals
Religion &
spirituality
Politics
Compatibility Importance
(Shown: % Important)
Married Unmarried
Financial compatibility is important to 96% of married adults and
91% of their unwed counterparts
Q8: [In looking for a long term romantic partner] How important is it for you [and your spouse] to be compatible on each of the following?
(Shown: %
Important)
Family goals 97% 98%
Life goals 94% 99%
Finances 96% 97%
Sex & intimacy 95% 96%
Career goals 72% 81%
Religion & spirituality 64% 74%
Politics 43% 44%
Compatibility Importance
by Gender Among Married
Adults
7. 7 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
89% 85%
72% 67%
43%
35%
86% 84%
51%
36%
91% 86%
60%
35%
88%
48%
34%
Married Unmarried
Positive Attributes
(Shown: % More Attractive)
Negative Attributes
(Shown: % Less Attractive)
Financially
responsible
Pays bills on
time
Maintains a
budget
Open about
personal
finances /
credit history
Has
reasonable
amount of
debt with
plan to pay
off
Knows
his/her credit
score
Q9: How does each of the following attributes influence the attractiveness of a [potential romantic partner] / [spouse]?
N/AN/A
N/A
Spends
beyond
his/her
means
Has large
amount of
debt with no
plan to pay
off
Avoids
discussing
personal
finances /
credit history
Never
checks credit
score
Married couples value openness about personal finances and credit
history more than those who are dating
N/A
9. 9 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Most married couples discuss their financial goals on a monthly
basis, and they are more likely to discuss large investments than
everyday purchases
Q13: Approximately how often do you discuss financial goals with your spouse?
Q11: How likely are you to discuss the following financial topics with your spouse?
Q12: What is the maximum amount of money that you would spend before discussing it with your spouse?
$812
Average amount
married adults
will spend before
discussing it with
their spouse
20%
31%
19%
24%
5%
Financial Goal Discussions
(Shown: % Frequency of
Discussions)
Weekly
A few times a month
Monthly
A few times a year
Annually or less often
64%
96%
Small, everyday
purchases
Large investments
Purchase Discussions
(Shown: % Likely to Discuss)
70%
MONTHL
Y
Gen Y 85%
Post-Recession
82%
Gen Y 77%
Post-Recession
75%
10. 10 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Two in five married adults consider their household finances a
shared responsibility that evolves over the course of a marriage
Q6: Who would you say is primarily responsible for each of the following in your household? Finances
Q15: Please indicate whether you would agree with that statement and whether you think your spouse would agree.
48%
39%
13%
Responsibility for Household
Finances
(Shown: % Definitely/Probably)
Self Shared Spouse
86% 85%
78%
73%
We usually agree on financial
decisions
Our financial decision-making
has changed over the course
of our marriage
Financial Decision-Making Statements
(Shown: % Agree)
I would agree My spouse would agree
Men 53%
Boomers 44%
11. 11 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Most married couples are focusing on saving for retirement or
paying off a home loan, yet many still feel comfortable taking on
additional debt
Q14: Currently, which of the following do you consider to be your and your spouse’s biggest financial goal?
Q15: Please indicate whether you would agree with that statement and whether you think your spouse would agree.
10%
1%
7%
9%
9%
13%
18%
33%
Other
Paying off wedding debt
Saving for a vacation
Paying off student debt
Saving for college education
Saving for a home
Paying off a home loan
Saving for retirement
Top Financial Goal
(Shown: % Selected)
61% 59%
64% 67%
Our bills are overwhelming We feel comfortable taking
on more debt
Financial Decision-Making
Statements
(Shown: % Agree)
I would agree My spouse would agree
Men 62%
Boomers
56%
Gen Y
23%
Gen Y
22%
13. 13 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Nearly half say it was important for their spouse to have a good
credit score; a third considered the impact of their spouse’s credit
on their own finances
Q16: When choosing your spouse, how important was it for him/her to have a good credit score?
Q20: To what extent do you agree or disagree with the following statement: “Before I was married, I considered how a potential spouse’s credit
score could affect my finances.”
14%
35%
30%
20%
Credit Score Importance in
Choosing a Spouse
Very important
Somewhat important
Not too important
Not at all important
49%
IMPORTAN
T
33%
considered how a
potential spouse's credit
score could affect their
finances before getting
married
Women 56%
Women 38%
Gen Y 44%
Unmarried Adults:
66% IMPORTANT
14. 14 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Credit scores are the only financial topic that couples do not
discuss before their wedding day
Q10: Please indicate when, if ever, you learned each of these things about your spouse. His/her…
79% 76% 73%
69%
60%
55%
43%
18% 21%
10%
26%
32% 35%
43%
3% 3%
17%
5%
9% 10%
14%
Annual income Spending habits Student loan
debt
Bill payment
history
Long term
financial goals
Retirement
savings
Credit score
Financial Topic Discovery
(Shown: % Learned about Spouse)
Before marriage After marriage Never
Gen Y 56%
Women
46%
Men 19%
Gen X 16%
Boomers
16%
15. 15 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
One in ten married couples have never discussed credit scores;
credit has been a source of stress in 21% of marriages
Q17: Have you ever discussed credit scores with your spouse?
Q20: To what extent do you agree or disagree with the following statements: “My spouse’s credit score / My credit score has been a source of
stress in our marriage.”
86%
12%
2%
Credit Score
Discussions
with a Spouse
Yes No Unsure
21%
79%
Credit Score as a
Source of Stress in
Marriage
Yes No
Unmarried Adults:
48% HAVE
DISCUSSED
CREDIT
SCORES WITH A
ROMANTIC
PROSPECT /
PARTNER
16. 16 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Most Likely to Agree
85% Overall
• Those who have discussed
credit scores (88%)
• Those who discuss financial
goals monthly (88%)
Q20: To what extent do you agree or disagree with the following statement: “My spouse and I agree about how to use credit as a couple.”
49%
36%
10%
5%
Spousal Agreement on How
to Use Credit as a Couple
Strongly agree
Somewhat agree
Somewhat disagree
Strongly disagree
Most Likely to Disagree
15% OVERALL
• Those who have not discussed
credit scores (32%)
• Those who discuss financial
goals less than monthly (21%)
85%
AGREE
Most married couples agree on how to use credit; those with an
open dialogue about credit scores are more apt to agree
17. 17 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
55%
48%
42%
29% 28%
19% 9%
68%
52%
42%
53%
Poor Credit: Areas of Concern
(Shown: % Important Role in Marriage / Potential Impact)
Married Unmarried
%
Credit plays the biggest role in marriages when spouses are
securing a home loan or applying for good interest rates
Q19: [If your long term romantic partner had a poor credit score, in which of the following ways would you be worried it might affect you?] / [In
which of the following ways has your or your spouse’s credit score played an important role in your marriage?]
Securing a loan
to buy a house
Getting good
interest rates
Securing a loan
to buy a car
Managing a joint
credit account
Getting good
insurance rates
Saving for
retirement
Saving for
children’s
college
education
N/A N/A N/A
18. 18 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
63%
54%
49%
32% 30% 24% 10%
59%
47%
42%
25% 25%
17%
8%
42% 44%
37%
30% 29%
16%
9…
Poor Credit: Areas of Concern
(Shown: % Important Role in Marriage)
Married more than 20 yrs Married 5-20 years Married 5 yrs or fewer
%
Couples married over 20 years know that credit plays an
instrumental role in marriages
Q19: In which of the following ways has your or your spouse’s credit score played an important role in your marriage?
Securing a loan
to buy a house
Getting good
interest rates
Securing a loan
to buy a car
Managing a joint
credit account
Getting good
insurance rates
Saving for
retirement
Saving for
children’s
college
education
20. 20 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
More than one in ten marriages have been affected by identify theft;
one in five victims say fraud impacted their family’s financial goals
Q21: Please indicate whether you and your spouse have ever encountered each of the following financial situations since getting married: Identity
theft
Q23: To what extent has identity theft impacted your family’s financial goals? [Asked of those who have been / whose spouses have been victims
of identity theft, n=141]
14%
of marriages have at
least one spouse that
has been a victim of
identity theft
7%
13%
37%
43%
Identity Theft Impact on Financial
Goals
(Shown: Victims of Identity Theft)
Impacted a great deal
Impacted somewhat
Not impacted too much
Not impacted at all
20%
IMPACTED
21. 21 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Q21: Please indicate whether you and your spouse have ever encountered each of the following financial situations since getting married.
Q22: Which of the following describes the reason(s) you needed a parent or in-law to co-sign on your behalf? [Asked of those who have required a
parent / in-law to co-sign on their behalf, n=108]
11%
have required a parent-in-law
to co-sign on their behalf
after getting married
11%
have borrowed a significant
amount of money from a
family member to avoid
defaulting on debt
One in ten married couples have required a co-signer since their
wedding day, largely due to having poor credit
6%
24%
34%
45%
Debt from previous marriage
Not been employed long
enough
Insufficient income
Poor credit
Reasons for Needing a Co-Signer
(Shown: Those who Required a Cosigner)
23. 23 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
In line with the dating survey findings, wives place greater value
than husbands on financial dialogue and openness about credit
scores
Q9: How does each of the following attributes influence the attractiveness of a spouse?
Q16: When choosing your spouse, how important was it for him/her to have a good credit score?
Q12: What is the maximum amount of money that you would spend before discussing it with your spouse?
%More
attractive
Is open about his/her personal
finances and credit history
60% 73%
Knows his/her credit history 30% 40%
%Less
attractive
Avoids talking about personal
finances and credit history
44% 59%
Never checks his/her credit score 28% 43%
%
Important
Has a good credit score 43% 56%
34%
42%
25%
28%
52%
20%
< $100
$100-500
$500+
Maximum Amount Spent
Before Discussing with
Spouse
Men Women
$1,231
(MEAN)
$396
(MEAN)
24. 24 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Q13: Approximately how often do you discuss financial goals with your spouse?
Q11: How likely are you to discuss the following financial topics with your spouse: Small, everyday purchases
Q10: Please indicate when, if ever, you learned each of these things about your spouse: Credit score, Pre-Marriage
Q12: What is the maximum amount of money that you would spend before discussing it with your spouse?
Pre-Recession
Couples (Married
Before 2008)
Post-Recession
Couples (Married
2008 or Later)
Discuss financial goals with
spouse at least monthly
65% 82%
Likely to discuss small,
everyday purchases with
spouse
59% 75%
Discussed credit scores
before marriage
35% 61%
The 2008 recession has made couples increasingly conscious of
the importance of credit scores and discussing finances
26%
51%
23%
42%
38%
20%
< $100
$100-500
$500+
Maximum Amount Spent
Before Discussing with
Spouse
Pre-Recssion Post-Recession
$1,022
(MEAN)
$256
(MEAN)
Notas del editor Survey methodology
The data points referenced above come from a study commissioned by ConsumerInfo.com, Inc., an Experian company, produced by research firm Edelman Berland and conducted as an online survey of n=1,010 married adults nationwide. Interviewing took place from April 16-19, 2014. The margin of error is plus or minus 3.1 percent.