Older Couples Less Likely To Work Together In Money Matters

Younger couples are more likely to make financial decisions as a team than older couples, according to a survey by TD AMERITRADE.

One reason may be due to more women active in the workforce in the 1970s and 1980s, resulting in their having more of a role in their families' financial matters.

Results also suggest the idea of just one family member being responsible for taking care of the finances has changed. Another finding is younger generations have recognized the need to be more collaborative regarding financial matters in a recession. 

26% of couples ages 65 and older report the breadwinner alone makes decisions about paying bills, compared to 17% of couples ages 18-34 who reported the same.
 
28% of couples ages 65 and older report the breadwinner alone is responsible for making decisions about how to manage debt, compared to 13% of couples ages 35-44.

94% of those ages 55-64 who are single report making decisions about managing debt alone, compared to 76% of those ages 35-44 who are single.

97% of those ages 65 and older who are single report making decisions about paying bills alone, compared to 76% of those ages 18-34 who are single.

20% of those ages 35-44 who are single report making decisions about paying bills with someone else, compared to 3% of those ages 65 and older who are single.

Source: TD AMERITRADE