By Emma Marshall on March 23, 2010
Estimated reading time: 1 minute

Young couples keeping separate bank accounts

By Emma Marshall on March 23, 2010
Estimated reading time: 1 minute

One-in-three pairs prefer to keep their finances to themselves.

This article is 9 years old. Some details may be outdated.

When it comes time to balance their checkbooks, 34% of Canadian couples prefer to be financially independent of their partners, a recent RBC poll revealed. Individuals between the ages of 18 to 35 cited a desire to be self-sufficient and differing financial needs as the main motivations behind holding separate bank accounts. However, with 50% of these couples wanting to have a child within the next five years, and 41% wanting to buy a home, experts are urging like-minded pairs to start discussing joint financial planning. RBC says talking openly with your partner, deciding on key issues as a team, and reviewing your financial arrangements together are all positive ways to improve planning.