A recent survey indicates that financial secrecy is prevalent in the United States, with six in ten Americans admitting to keeping financial secrets from others. This hidden information can potentially jeopardize dating lives and relationships.
The study, which surveyed 2,000 Americans and was conducted by Talker Research on behalf of TD Bank U.S., found that 59% of respondents confess to having a financial secret. Among these, 11% revealed they maintain a separate bank account unknown to their partner. Further details show that 21% secretly have a poor credit score, 16% struggle with undisclosed credit card debt, and 14% hide their gambling habits.
Nearly a third of those polled (30%) admitted to hiding a purchase or financial decision from a spouse, partner, or family member, while 23% reported that someone close to them had done the same.
Financial stability is a crucial factor for many Americans when seeking a serious relationship, with 72% considering it important in a partner. Specifically, 41% stated that it is very important for a partner to be financially stable and capable of contributing to household expenses. Only a small fraction, 6%, reported that a potential partner's financial situation does not influence their decision to pursue a relationship. Almost half of respondents (46%) indicated that a partner's debt or financial habits would affect their willingness to start or continue a relationship. This sentiment was more pronounced among younger generations, with millennials (51%) and Gen Z (49%) expressing this view more frequently than Gen X and baby boomers (both 39%).
The survey also touched on the merging of finances, with most Americans believing couples should combine their finances at some point. However, opinions vary on when this should occur: 30% suggest marriage as the appropriate time, 13% after moving in together, and 12% while seriously dating. Conversely, 13% believe couples should maintain completely separate finances.
Additionally, over half of respondents (54%) indicated they would consider signing a prenuptial agreement.
"The survey suggests money isn’t just influencing financial decisions; it’s influencing relationship dynamics, major life milestones and overall confidence," said Marc Womack, Head of Client Experience, Strategy and Governance, TD Bank U.S. "Financial education and planning may help people better navigate these pressures, have more productive conversations and make more informed decisions about their future."
The research also explored financial support networks. Sixty-seven percent of respondents reported receiving financial assistance from loved ones. Common forms of support include everyday bills (24%), emergency expenses (21%), debt payments (15%), and rent or mortgage payments (15%). Younger generations, Gen Z and millennials, were more likely to have received financial help compared to older generations.
The average amount of financial support received since becoming financially independent was $12,252. However, nearly a third (31%) received less than $1,000, while 17% received $25,000 or more.
Financial support also flows in the other direction, with 71% of respondents having provided financial assistance to family or close friends, primarily for everyday expenses (28%), emergencies (24%), and housing costs (15%).
"Whether it’s navigating financial conversations with a partner, reaching a major life milestone or leaning on loved ones for support, confidence can be strengthened from understanding your financial situation and making informed decisions," said Mandy Kelso, Head of Financial Education, TD Bank U.S. "The survey shows that while many Americans face real financial pressures, they’re also focused on taking meaningful steps toward a stronger financial future."
The top financial secrets Americans keep hidden include a bad credit score (21%), significant credit card debt (16%), a gambling hobby (14%), and a secret bank account (11%).