Gen Z Couples Keep Separate Accounts at 34% as Experts Warn of Hidden Financial Risks
Updated
Updated · USA TODAY · May 27
Gen Z Couples Keep Separate Accounts at 34% as Experts Warn of Hidden Financial Risks
4 articles · Updated · USA TODAY · May 27
Fidelity’s survey of 3,000-plus couples found 34% of Gen Z and 26% of millennials keep finances completely separate, versus 19% of Gen X and 15% of boomers.
42% of millennial couples now use a mixed system of joint and individual accounts, a shift tied to later marriage, dual incomes, student debt and unequal assets entering relationships.
44% of respondents avoid money talks for fear of arguments, and about one-quarter admitted hiding a financial secret; 68% said they lacked a full picture of a partner’s finances until after moving in together.
Advisers said separate accounts can cause missed payments, slower progress toward goals like homebuying or debt payoff, and harder access to funds after incapacity or death if partners are not named beneficiaries.
The trend also overlaps with rising prenups—29% among Gen Z—and persistent gender imbalance, with 46% of women saying they feel financially dependent versus 16% of men.
Could separate bank accounts be the secret to a stronger, more equitable modern marriage?
With a $124 trillion wealth transfer underway, how can couples protect inheritances without sacrificing financial unity?
As fintech makes sharing money easier, is the traditional joint bank account becoming obsolete?