How do couples today handle their finances before getting married? To find out, in August 2024 SoFi surveyed 450 adults who live with their partners (and intend to get married within the next three years) about money, relationships, and plans for the future.

Our results suggest that the majority of committed couples are open with each other about money and debt, are relatively aligned in their financial goals, and plan to talk about money at least monthly after marriage. That said, many have occasional disagreements over money and are worried about expenses, debt, and saving for the future.

Learn how other couples’ financial habits compare to yours, and get tips for dealing with love and money in a relationship.

Key Findings

Some highlights of SoFi’s 2024 Love & Money survey of soon-to-be married couples include:

•   More than one-quarter (28%) of survey respondents share a joint bank account with their partner before marriage.

•   75% of partners are very comfortable discussing money matters with their partner.

•   40% of cohabitating couples sometimes disagree about finances.

•   Only 14% of those surveyed are considering a prenup.

•   Nearly 1 in 5 (18%) of couples have postponed their wedding to save more money.

•   28% of respondents are thinking of postponing their wedding to save money, but they haven’t discussed the idea with their partner.

Financial Transparency Before Marriage

Overall, most couples today aren’t shy about sharing details about their finances. Many have discussed everything from the amount of debt they owe to their credit scores.

75% Are Very Comfortable Discussing Money Before Marriage

Although money issues can be difficult to talk about, discussing finances before marriage can help couples build a solid financial foundation for their future together.

The participants in the SoFi survey seem to be on the right track: Three-quarters said they freely discuss finances with their partner. Another 18% are somewhat comfortable having money talks, while around 6% are either neutral or somewhat uncomfortable. Better yet: Not even one survey respondent said they were very uncomfortable discussing finances with their future fiancé.

About 1 in 3 respondents said they started saving for their golden years between the ages of 25 to 35, while 17% began before age 25. That’s a positive sign, as getting an early start means more time to capitalize on the power of compounding returns. However, roughly 1 in 3 adults said they didn’t start saving until after the age of 36, and 13% said they had yet to put a retirement plan into action.

83% Disclose Their Debt

Transparency about debt is key for couples, particularly if you plan to get married. Being aware of how much combined debt you owe allows you to come up with strategies for paying it down and building financial security. Hiding debt, on the other hand, can lead to distrust in the relationship.

The good news is that the majority of our survey participants (83%) have told their partner about all the debt they owe. Another 14% have partially disclosed their debt, and just 3% haven’t revealed their debt at all.

87% Share Credit Scores

Even credit scores aren’t off limits to SoFi survey respondents. Most (87%) said they’ve told their partner what their credit score is. Only 8% haven’t shared this info, and 5% are planning to bring it up at some point. If you’d like to reveal your score to your partner, but you’re not sure what it is, there are ways to check your credit score for free.

Joint Finances and Future Planning

Many of SoFi’s Love & Money survey respondents are combining their money with their partners’ — even before marriage. Here’s how they’re managing money in their relationship.

28% Have a Joint Bank Account

A joint bank account can make it easier for couples to manage household bills and other shared expenses. That may explain why, even before they tie the knot, nearly 30% of respondents have a joint account with their significant other, and 39% are planning to open an account together.

However, whether to bank together is a highly personal decision, and some couples prefer to keep their money separate. In the SoFi survey, 15% of people said they don’t plan to open a joint account, and 18% said they haven’t talked about the idea yet.

Roughly 1 in 4 committed couples open a joint bank account before marriage.

Recommended: Joint Bank Accounts: What They Are and Pros and Cons

74% Discuss Their Financial Goals

Overwhelmingly, respondents to the survey report that they have discussed their long-term money goals and, in most cases, agree on what those goals are:

Of the 74% who said they’ve discussed long-term goals and are aligned, their top financial objective is buying a home.

85% Plan to Discuss Finances at Least Once a Month After Marriage

When it comes to love and money in a relationship, survey respondents aim to keep the lines of communication open after they get married. Eighty-five percent say they’ll talk about money monthly, while 40% are targeting weekly discussions.

Financial experts agree with this approach: Regular money talks during marriage can help lower financial stress, reinforce that you are both on the same team, and help you work toward — and achieve — shared goals. Together, you may be able to problem-solve your issues, for instance.

76% Want to Learn More About Managing Money Together

It’s one thing to manage finances as a single person, but when you merge money and bills with a partner, the task can become even more complicated. No wonder then that more than three-quarters of SoFi survey respondents said they’re interested in learning more about managing finances as a couple.

Some have already taken the first step: 16% have completed a financial education class with their significant other — even before saying “I do.”

Wedding Finances: How to Pay for the Big Day

A wedding is a huge expense — the average wedding in the U.S. costs $33,000, according to The Knot. For many couples, figuring out how much to spend and how to pay for their wedding day is the one of the first major money issues they may confront together. SoFi’s survey uncovered these intriguing truths about wedding spending.

81% Plan to Use Savings to Pay for Their Wedding

Most couples want to foot at least some of their wedding bill themselves: 81% are aiming to put their savings toward it. But many couples also need financial help from family or plan to borrow the funds to help cover the cost of their big day.

This is how SoFi respondents’ answers break down (they selected all that apply to their situation):

79% Agree About Wedding Spending

Although you might think that wedding expenses could be a source of friction, our survey found that most couples are completely or mostly in agreement about how much money to spend and what to spend it on: 79% of respondents report being in sync about this, with 37% saying they completely agree.

Another 18% are somewhat aligned on wedding spending, while 2% mostly disagree about it and less than 1% completely disagree.

41% Prioritize Saving for Their Future Over Wedding Spending

While a wedding is a milestone day in a couple’s relationship, saving for the future is also very important to respondents of SoFi’s Love & Money survey: A full 41% said putting money away for their future together is a bigger priority than paying for their wedding.

A slightly larger group of respondents (48%) want to balance both wedding expenses and saving for the future. Just 6% prioritize saving for their wedding over saving for their future.

Savings strategies for couples who want to build a nest egg for their future could include opening a high-yield savings account, contributing to a 401(k) at work, and setting up an IRA.

71% Have Discussed How Wedding Debt Might Impact Their Financial Goals

Considering that the cost of a wedding can run well into the tens of thousands of dollars, as noted above, our survey respondents are confronting the issue by talking about it. And almost one in five said they don’t plan to take on wedding debt.

28% Are Considering Postponing Their Wedding to Save More Money

When finances are tight, many respondents to our survey are willing to take action to avoid overspending and running up debt, even if it means putting off their big day. Almost one in five (18%) have already postponed their wedding day after discussing it with their partner. Another 28% report that they’re considering postponing their wedding, though they haven’t talked about the idea with their partner.

For 33% of respondents, postponing is not an option, and 20% have discussed the idea but decided not to put off their wedding.

Common Money Challenges Couples Face

When we asked survey respondents to tell us about the largest financial challenge they and their partner are facing, this is what they told us:

•   Saving money: Whether it’s for a house, kids, or retirement, putting away money for the future is a struggle for many survey respondents.

•   Paying off debt: Tackling credit card debt is a major concern many survey participants voiced.

•   Cost of living: From housing to groceries to being able to pay the monthly utility bills, respondents say the cost of everything has gone up. “We live paycheck to paycheck,” several told us.

•   Student loan debt: Paying off outstanding student loans weighs heavily on the minds of a number of respondents.

•   Lack of emergency savings: Trying to scrape together enough to create an emergency fund came up over and over with respondents.

Conflict and Communication

Numerous studies over the years have found that money is a common reason couples fight. But in SoFi’s 2024 Love & Money survey, just 10% of respondents said they often or very often argue about finances. Let’s call that progress!

41% Rarely Disagree About Money

When asked how often they disagree about financial matters, the top answer was “rarely.”

14% Are Considering a Prenuptial Agreement

Prenups are no longer just for the wealthy. Indeed, research suggests these legal contracts are growing in popularity, particularly among millennials and Gen Zs. Nevertheless, our survey suggests that only a minority of couples are on board with the idea. Among our respondents:

Couples Are Working on Communication

A large share of SoFi survey respondents are practicing helpful techniques to get in sync financially and work toward their goals together. These strategies include:

•   Having money conversations. In our research, couples made it clear that they talk about money issues, from credit scores to spending and saving. Three-quarters said they are very comfortable discussing money issues.

•   Coming clean about the uncomfortable stuff. 83% of participants have been completely transparent with their partner about the amount of debt they owe.

•   Staying on top of spending and saving. Fully 85% plan to review their finances together at least monthly.

•   Sharing their goals. Talking about long-term goals and being aligned on them is something 74% of respondents do.

•   Working as a team to improve their money skills. 76% percent are eager to learn more about managing money as a couple.

The Takeaway

Overall, couples who live together and plan on getting married are surprisingly in sync about their finances and their savings goals, according to findings from SoFi’s 2024 Love & Money survey.

Three-quarters of respondents are comfortable discussing money matters with their partner, and nearly as many are aligned about their financial goals for the future. The majority of survey participants share the details about the debt they owe and their credit scores. And 41% said they rarely disagree about finances.

However, respondents also acknowledge that they don’t always agree on money issues and struggle with a number of financial challenges, including saving for the future. Opening a joint bank account to save for emergencies and other goals is one way couples can take charge of their finances.

About the Survey

SoFi’s Love & Money Survey was conducted on August 22-23, 2024 and included 450 U.S. adults aged 18+ who were living with their partner, had discussed marriage with their partner, and were likely to get married within the next three years.

Percentages were rounded to the nearest whole number so some percentages may not add up to 100%.

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The Big One

The wait is finally over. President Trump’s “Liberation Day” has arrived, with investors braced for the tariff package he has dubbed “the big one.” The impact of these tariffs is uncertain, as is whether there is room for negotiation. One thing is clear however: Global commerce may never be the same.

In just the first three months of the year, the average tariff rate has increased from 2.4% to 6.6%. The political rumor mill on where it would end up has swung between two ends of a spectrum: targeted reciprocal tariffs or a broad universal tariff.

Either outcome (or a mix of each) would push the average tariff rate significantly higher, bringing the overall level to above 15%, and possibly even as high as 32%. Interestingly, investors have appeared more optimistic, with a recent Goldman Sachs Investment Research survey showing investor consensus expected a final tariff rate of 9.3%.

That could be because they had expectations for an underwhelming announcement or thought that countries would be able to secure exemptions through negotiation. But that consensus raises the risk that the market could be in for a negative surprise with higher tariffs.

Past, Present, Future

Of course, where markets go will depend on how the U.S. economy copes with the global trade upheaval. To state the obvious, this isn’t like your founding father’s economy when tariffs were the primary revenue generator for the government. Still, the past has some useful lessons for us.

Trade has always played an important role in economies, consistently accounting for a sizable chunk of GDP despite the occasional disruption. Yet as U.S. industries developed in the early history of the country, trade became relatively less important to the economy. With less need for protection from foreign countries, tariffs generally trended lower as well.

That changed when the Great Depression hit and the Smoot-Hawley tariffs were enacted in 1930, raising tariffs on thousands of goods to record levels. That led to boycotts and retaliatory measures from trading partners, which exacerbated the global recession. From 1929 to 1932, total goods traded fell 69% while GDP contracted by 43%. Rough to say the least.

While the current tariff push shares some similarities with the Smoot-Hawley era, they would be occurring in a completely different economic landscape. The biggest difference is that unlike in the early 1930s, today’s global economy isn’t already in the throes of a devastating recession. On the other hand, goods imports account for a much larger share of GDP today than they did in the past (over 11% now versus less than 3% then). Because of how interconnected today’s global supply chain is, inflationary effects from tariffs would likely spread more quickly than in the past.

Trust the Process

How this all shakes out is anyone’s guess. Is it just the mother of all negotiations? One big ploy to try and lower trade barriers with other nations? Maybe. Anything is possible, but it seems like the protectionist genie is out of the bottle. Putting it back in probably won’t be so easy.

When the Smoot-Hawley tariffs were enacted, it wasn’t until a change in government control after the 1934 elections that the Reciprocal Trade Agreements Act was passed and the import taxes began to be lowered.

Moments like this are an important reminder that investing is a long-term game. The market environment isn’t always positive, and stocks don’t only go up. It can be uncomfortable, and sometimes scary, to invest when the world is in turmoil, but part of what investing is about is being compensated for taking on risk. For years, high-flying tech stocks outperformed the broader market during a long period of U.S. dominance, but in times like this, the benefits of diversification become apparent, not only across sectors but regions and factors as well.

International markets are fresh off one of their best quarters relative to the U.S. in many years, while stocks seen as lower volatility and higher quality (i.e. less debt, higher profit margins, steady cash flows, etc.) trounced stocks with the opposite characteristics. It’s possible that this represents the beginning of a longer-term shift in market leadership as investors react to a changing world, but it will take years to know for sure. In the meantime, the most successful investors will likely be those who maintain discipline while strategically adjusting to realities.

Trust the process.

Want more insights from SoFi’s Investment Strategy team? The Important Part: Investing With Liz Thomas, a podcast from SoFi, takes listeners through today’s top-of-mind themes in investing and breaks them down into digestible and actionable pieces.

SoFi can’t guarantee future financial performance, and past performance is no indication of future success. This information isn’t financial advice. Investment decisions should be based on specific financial needs, goals and risk appetite.

Communication of SoFi Wealth LLC an SEC Registered Investment Adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Mario Ismailanji is a Registered Representative of SoFi Securities and Investment Advisor Representative of SoFi Wealth. Form ADV 2A is available at www.sofi.com/legal/adv.

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March delivered a stark illustration of evolving market dynamics. International markets dramatically outperformed their U.S. counterparts by one of the widest margins in history, as the Magnificent Seven stocks suffered their worst quarter since 2022. Federal Reserve officials downgraded their growth forecasts while expecting higher unemployment and inflation, and consumer confidence and deteriorating business surveys suggest economic headwinds are intensifying. Bond markets reflected the growing caution, with high yield credit spreads widening by the most in a single month since September 2022.

Macro

•   The Federal Reserve left the fed funds rate unchanged at a target range of 4.25%-4.50%, citing an uncertain outlook.

•   The Fed revised its quarterly economic projections to show lower growth (2.1% to 1.7%), higher inflation (2.5% to 2.7%), and higher unemployment (4.3% to 4.4%) in 2025.

•   Unemployment ticked up from 4.0% to 4.1% in February, below expectations.

•   Inflation reports were mostly cooler than expected, with the February Consumer and Producer Price indices coming in at 0.2% m/m (2.8% y/y) and 0.0% m/m (3.2% y/y), respectively.

•   March consumer confidence plunged to multi-year lows, according to data from both the University of Michigan and the Conference Board.

•   Regional Fed bank surveys of executives from manufacturing and service firms indicated the sharpest slowdown in economic activity since 2022.

Equities

•   The Magnificent Seven stocks returned -10.2% in March, bringing their quarterly return to -16.0%. Both period returns rank as the worst since 2022.

•   International markets’ beat the S&P 500 by 5.1 percentage points in March, one of the biggest outperformances in two decades.

•   For a second straight month, forward 12-month earnings expectations rose (+0.7%) while the forward P/E ratio contracted (-6.4%).

•   Cyclical stocks underperformed defensive stocks by 2.2 percentage points, the third straight month of underperformance.

Fixed Income

•   Short-term Treasury yields fell by 5-10 basis points in March, while longer-term yields were flat-to-up.

•   High Yield corporate bond spreads widened by 67 basis points, the most since September 2022, as tariff fears weigh on profit outlooks.

•   While inflation-adjusted 10-year yields ended the month where they began in the U.S., they increased by 13-25 basis points in international markets on increased government spending expectations.

Going International

The first quarter of 2025 presented a notable shift in global market dynamics, with international markets outperforming their U.S. counterparts in a departure from recent trends. This divergence can be attributed to several key factors, including heightened fiscal spending initiatives across European economies, and investors pricing in the impact of tariffs on consumer spending.

While this burst of outperformance has prompted some discussion about a possible regime shift in global market leadership, it’s important to maintain perspective. This quarter’s results occurred in the aftermath of a decade and a half of U.S. market dominance.

Of course, every trend begins somewhere. Before the United States’ recent dominance, emerging markets led during the 2000’s commodity supercycle, a period of surging commodity prices driven by China’s rapid development. Sustained leadership transitions often occur alongside big structural shifts that, while not immediately recognizable in the moment, are undeniable after the fact.

Are we on the precipice of such a transition? A potential restructuring of global trade certainly could qualify, but only time will tell if we’re witnessing the early days of a new market regime.

Uncertainty Hits the Fed

It’s early in the year, but “uncertainty” is in the pole position for word of the year in finance. Consumers and investors alike have become gripped by it, and the Federal Reserve is not immune. In their quarterly Summary of Economic Projections, Fed officials also included a qualitative assessment of how uncertain their projections are relative to the average of the last 20 years. What they said probably won’t surprise you.

After declining over the last year or two, officials’ assessments of uncertainty have spiked the most since the initial COVID-19 crisis. History suggests that the Fed is less likely to make interest rate adjustments when the direction of the economy is this unclear. Recent Fedspeak underscores this dynamic, with officials signaling no interest rate changes while the broader economic and regulatory environment remains in flux.

The central bank is stuck between a rock and a hard place. While a “wait-and-see” approach is understandable, it raises the odds that the Fed falls behind the curve if economic conditions deteriorate quickly. That could mean a continuation of the market volatility investors have already been dealing with, and possibly more sharp corrections if the risks of higher unemployment and inflation are realized.

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Performance data quoted represents past performance. Past performance does not guarantee future results. Market returns will fluctuate, and current performance may be lower or higher than the standardized performance data quoted.

If you’re in the market for a house, it’s the time of year you’d normally get excited to start searching.

But between the price of real estate and the cost of borrowing, buying a home in 2025 is expensive. And the latest economic headwinds could wind up making a purchase feel even more out of reach.

So how can you adapt? One increasingly popular option is to house more family under the same roof.

A survey released this week by the National Association of Realtors shows 17% of homes purchased between June 2023 and June 2024 were for some combination of parents, grandparents, adult children and/or adult siblings. That’s up from 14% in each of the previous two years and the most since NAR started measuring in 2012.

While multi-generational living is hardly a new trend, it’s become steadily more common in recent decades. A big factor is the growth in racial and ethnic groups that are more apt to live in multi-generational houses, according to Pew Research.

But an increase in job losses and foreclosures during the Great Recession of 2007-2009 also accelerated the movement toward pooling financial resources.

Similar economic factors would appear to be at play now, with saving money being cited most often among the latest batch of multi-generational buyers surveyed by NAR, particularly Millennials.

In fact, 36% of buyers said they bought for “cost savings,” up from 22% in the previous 12 months. (In contrast, there was a slight decline in the percentage of buyers who attributed the purchase to caring for aging parents or because adult children or other relatives were moving back home.)

So what? Millennials had been the biggest contingent of homebuyers for years, but are now behind baby boomers. Without proceeds from the sale of a previous home to rely on, high rents, student loan debt and child care costs have made it difficult for many of them to come up with a down payment.

But thinking outside the box can help. There are still creative ways to adapt to this daunting housing market.

Related Reading

•   One Answer to High Mortgage Rates: A Smaller Home (SoFi)

•   Under One Roof: The Secrets to Success for Multi-Generational Living (Ikea)

•   Rent vs Buy Calculator (Trulia)

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

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