I love when couples and money studies come out because that’s one area in which I feel as if my husband and I have a pretty good handle. Recently, TIME Money released the results of its Boomers vs. millennials poll, and while I don’t fall into either of those categories (I’m a Gen Xer), it’s always interesting to get in the heads of other couples and learn from them.
The big takeaway is that couples who manage their money well together are more likely to be maintain marital bliss. It even goes as far as saying that financial compatibility is sexy, and might be integral to helping couples stay connected in the bedroom. 
That does seem like a bit of a leap, but it makes sense. Money arguments are very common in marriages. Couples who don’t fight about money probably fight less than other couples. And couples who fight less probably enjoy each other’s company a bit more, which leads to intimacy. In short, finding ways to work through the tough money conversations can actually bring you closer, as the ReadyforZero blog points out.
Here are some other observations from the poll that were no-brainers:
- Younger couples are more tolerant of poor credit and bad money management than older couples. For instance, when meeting a potential mate with $50,000 in student loan debt, 20 percent of millennials said it would be a deal breaker versus 30 percent of boomers who said the same. But that makes sense — if you’re over 50 and have that much student loan debt, it’s a sign of bigger financial problems.
- When it comes to extravagant spending, 69 percent of boomers are turned off completely, while millennials are slightly more tolerant at 49 percent. The older set is also more likely to find someone who has a lot of debt unattractive (61 percent vs. 41 percent of millennials).
- What millennials are looking for in a mate, however, is income potential — 32 percent said it’s an important quality in a partner versus 18 percent of boomers. Again, with the biggest earning years in front of the younger group and boomers being near retirement, the disparity here is expected.
- Finally, millennials argue more (47 percent) about money than boomers (37 percent). One would hope this to be the case. After a certain point, couples will either learn to respect each other’s money styles or give up the fight.
Now, for what surprised me
Sixty-two percent of millennials think it’s perfectly fine to join their finances before marriage, and think they’ll have a stronger relationship because of it, while only 43 percent of boomers feel the same. I’ve always thought of this younger generation as more credit savvy and financially educated (thanks to learning from the mistakes of my generation), so to see non-married young couples coupling their cash seems off to me. Then again, in the expensive world we live, maybe they’re onto something — combining incomes might be the only way to achieve home ownership or live a certain lifestyle, but they don’t necessarily want to rush into the foreverness of marriage.
And finally, my one gripe
What about Gen Xers like myself? It seems as if we’re the forgotten middle child when it comes to generational studies lately, but then again, maybe I’m better off not knowing where we stand. When I went searching online to see how my fellow X-couples might compare, I stumbled onto the 2015 Fidelity Investments Couples Retirement Study. Apparently, my generation is the most clueless when it comes to being on the same financial page as our partners. When the survey asked respondents how much money their spouses earned, 4 in 10 couples got it wrong and 1 in 10 were off by $25,000 or more. Of all the generations that took part in the study, Gen X couples had the most discrepancies. Not having any inkling as to what your spouse earns means you probably have no idea what they spend, or what they have saved up for retirement either. Scary thought!
No matter which generation you’re part of, if you’re part of a couple, it’s important to communicate and compromise. As this blogging couple at TheSimpleMoneyBlog explain, there’s no right or wrong way to handle money in your marriage the key is finding a method on which you both agree.