Gen Z, Millennial Couples Prefer Financial Autonomy

Gen Z, Millennial Couples Prefer Financial Autonomy

March 05, 2024

Over the years, I've come to believe that learning to navigate financial discussions and events in a relationship is a "must" that transcends generations. However, recent data shows that Gen Z and Millennial couples are forging their financial path once again.

In fact, 43% of Gen Z and 31% of millennials say they prefer to keep their financial accounts separate from their partners' to maintain financial autonomy— And for many, this may be what's best for their financial situations. However, this approach will almost always require extra structuring when considering investment, retirement, or estate strategies.1

Fortunately, the same communication lessons seasoned investors (and couples) learned in their younger days still apply when maintaining separate accounts.

Here are some of my favorite time-tested strategies for maintaining open financial communication with one's partner:

  • Identify Shared Expenses — Shared expenses include housing, utilities, and groceries. Coming to a mutual understanding about what costs are shared and how they are split is key.

  • Consider Income Differences — If there's a significant income difference, some couples opt to divide expenses in proportion to their incomes to ensure a balanced financial load.

  • Establish Transparency — Even with separate finances, transparency is crucial. Some have found luck in creating a single joint account for shared expenses to foster transparency and trust while keeping all other accounts separate.

As always, I'm here to help, whether it's facilitating a discussion around shared accounts, maintaining financial autonomy, or any other financial questions you (or your loved ones) may have.

About Terrell Dinkins, MBA, ChFC®, RICP®


Terrell Dinkins, MBA, ChFC® , RICP® is an investment adviser representative of and offers investment advisory services through OBN Wealth Advisors, LLC, a registered investment adviser offering advisory services in the State of Georgia and other jurisdictions where registered or exempted. Main Office: 950 Eagles Landing Pkwy, Suite 216, Stockbridge, GA 30281. Tel: 404-723-9780. Website: OBN Wealth Advisors. Image courtesy of Canva.

1., November 16, 2023. "Gen Z and millennial couples are more likely to keep their finances separate."