Couples and Banking Behavior: To Share or Not to Share?

Sinead Burnett is an intern at RDW and a rising senior at Northeastern University studying Digital Communication and Media. She recently completed summer studies in Consumer Behavior.

Gone are the days when joint saving and checking accounts were the default for married partners. Today, couples are blending shared and separate finances, or managing them entirely independently. As banks and credit unions seek new ways to differentiate, this phenomenon presents a great opportunity for marketing new financial products and services.

Societal shifts are reshaping banking behavior

According to a 2025 Bankrate survey, 62% of couples keep at least some money separate, with 34% using a mix of individual and joint bank accounts, and 27% opting for complete financial separation.

Generational values play a role. The trend toward separate accounts is especially pronounced among younger generations: 88% of Gen Z (born 1995 to 2010) and 70% of Millennials (born 1981 to 1995) maintain some financial autonomy, compared to 59% of Gen X (born 1965 to 1980) and 52% of Boomers (born 1946 to 1964) (Babin & Harris, 2022, pp. 217–218). 

Several societal factors are driving this shift:

• The trend toward delayed marriage means young adults are experienced in managing their own money and frequently have well-established balances in their accounts before tying the knot.
• With relationship dynamics evolving, many couples are choosing separate finances to promote autonomy. Notably, about 41% of first marriages in the U.S. end in divorce, making autonomy and clear financial boundaries increasingly important.
• More couples (~70%) are living together before getting married, which often leads to complicated financial arrangements.
• Women, in particular, are leading the charge toward financial equity and empowerment. Among women under 50 years old, 61% now feel confident managing their finances independently, a significant jump from 48% in 2018.
• Digital banking tools make it easier than ever to manage multiple accounts and transfer money.

As discussed in our blog on relationship banking, standing out in a crowded financial landscape requires a deep and current understanding of these kinds of evolving customer needs and values.

Real conversations about relationships

To learn firsthand how these trends are playing out across demographics, we conducted a staff focus group comprised of participants spanning from Gen X to Gen Z who have been or are soon to be married. We explored how colleagues manage their finances within their own relationships. Participants echoed many of the national findings:

• There are clear generational differences in expectations about how money should be managed.
• There is a strong desire for individual financial autonomy.
• Digital tools are making it easy for couples to manage and transfer among multiple accounts.
• There is a need for flexible banking products that support both individual and shared financial goals.
• Having children was noted as an event that prompted many couples to open joint savings and investment accounts to fund education and other expenses. 
• There is a strong desire to avoid the hassle of moving accounts and banks, particularly in regard to paying bills.

While there is a lot of momentum behind the demand for separate accounts, our respondents shared a longing for greater simplicity and control. Some lamented the demise of using cash, and others fondly recalled using the old “envelope” system to budget and limit expenditures. 

Catering to couples’ banking behavior

As couples increasingly balance between joint and separate finances, financial institutions have a unique opportunity to become trusted partners in this cultural shift. 

Working with a strategic agency partner like RDW can help financial institutions stay ahead of the curve through research, innovation, and incorporating targeted messaging into your marketing campaigns, such as:

1. Use customer and prospect data and psychographic segmentation to focus on relevant values and to design new products and services.
2. Publish informational resources that help couples understand how to maintain independence while managing shared goals. Use blogs, videos, and infographics to explain the pros and cons of different financial models for couples, and feature common approaches they might consider.
3. Host workshops and webinars on topics like “Joint vs. Separate Finances,” “Budgeting for Two,” “How to Talk About Finances,” “Financial Compatibility,” “Wedding Budgeting & Financial Planning” (timed for wedding season), or “Dealing with Debt” (advice on managing pre-existing student or credit card debt as a couple).
4. Focus on financial literacy, particularly involving children. Investing in financial literacy programs and marketing them creates a family banking experience and introduces future customers into the pipeline. 
5. Maintain the option for couples to get in-person guidance from professional and knowledgeable staff who can help navigate the complexities. For complex and high-stakes situations, these face-to-face interactions remain an invaluable way to improve customer loyalty. 
6. Educate clients on how your specific product offerings can support various financial arrangements, whether joint, hybrid, or separate. 
7. Promote specific account features your bank offers like savings buckets for shared or larger goals (vacations, weddings, home down payments, etc.).
8. Create a mobile app or account feature that tracks shared vs. personal expenses.
9. Use social media to feature couples as influencers discussing their ups and downs in managing their financial relationship.

All of the above may particularly apply to women, for whom greater autonomy and improved (if not perfect) financial equity are relatively recent developments. Many women might appreciate the support you can offer as they navigate and exercise their voice and influence in financial decisions.

What this means

It’s clear that changing societal and relationship values are predictive when it comes to personalized banking preferences. Use your customer data and be responsive to the desires of couples in different life stages. Making their financial lives easier is a great way for your financial institution to set itself apart, improve customer experience, and cement long-term relationships. 

Footnote:

Babin, B. J., & Harris, E. G. (2022). CB9 (9th ed., pp. 217–218). Cengage Learning.