Tying the Knot Leads to Better Financial Decisions, Study Finds
Tying the knot triggers Americans to focus more on their finances, according to a TD Ameritrade study.
According to their “Marriage & Money” survey, 37 percent of Americans say after marriage they paid closer attention to their finances. 30 percent reported saving more money after getting hitched. Another financial benefit of getting married? 30 percent of respondents said the moral support that keeps each other on track and on budget is the biggest financial benefit of getting married.
But, there are some financial negatives to tying the knot. 44 percent of married Americans have argued about money in the past year. Married couples are more likely than singles to hold mortgage debt -- 50 percent versus 29 percent.
When it comes to retirement, married men are more likely than married women to expect their spouse to outlive them and 14 percent of married couples plan to spend their retirements funds, rather than save it for an inheritance.