Summary
New data shows that nearly a quarter of married couples in the U.S. no longer use shared bank accounts. The trend of separate finances among couples has increased from 15 percent in 1996 to 23 percent in 2023.
Key Facts
- Nearly 25% of married couples in the U.S. don't have joint bank accounts in 2023.
- The percentage of couples without shared accounts increased from 15% in 1996 to 23% in 2023.
- The number of joint bank accounts has been decreasing since 1996.
- In 2023, 77% of married couples had at least one shared bank account, down from 85% in 1996.
- The median age for first marriages is now higher, with women marrying at 28.4 years and men at 30.2 years in 2023.
- Many couples prefer financial independence and less oversight on their spending.
- Legal factors in states like Texas affect how assets and accounts are managed in marriages.
- Separate accounts may reduce financial conflicts but could lead to issues if one partner overspends.
