TD Bank, America’s Most Convenient Bank, released data today from its  Love & Money Study, which found 70 percent of Hispanics in relationships believe discussing money and finances is imperative – on par with the general population. The study found that although 16 percent of Hispanic couples argue about money on a weekly basis, the majority of them (72 percent) are happy in their relationships and are more likely (71 percent) to be saving towards something special together than the general population (60 percent).

As part of the TD Bank Love & Money Study, the bank polled 1,339 Americans, including 219 Hispanics who were either married, engaged or in relationships to explore the impact finances have on relationships.

“Many of us are taught from a young age that money is a taboo topic of conversation, but when it comes to romantic relationships, discussing finances needs to happen sooner or later,” said Ryan Bailey, Head of Deposit Products, Payments and Non-Real Estate Lending at TD Bank. “Couples who are hesitant to talk about money should be encouraged to see that doing so could result in a happier relationship.”

When asked about their approach to sharing or merging money with their significant other, more Hispanic respondents (41 percent) reported having their own accounts, but combined some when compared with the general population (34 percent). Additionally, the study found that 46 percent of Hispanics in relationships consider their money to be completely shared.

Value of Money Talk

Hispanic couples understand the significance of discussions on money and many make it a regular conversation. When Hispanics were asked how often they talk about money with their significant other, the survey found:

• ·         90 percent discuss at least once a month
• ·         63 percent discuss at least once a week
• ·         17 percent discuss on a daily basis34 percent argue about the topic on a monthly basis

Most Hispanic couples (62 percent) start talking about money and finances with their significant other before they get engaged, followed by those (37 percent) who talk about money and finances before they start living together.

Major Financial Decisions Shared

When it comes to making major financial decisions, the survey results found that 77 percent of Hispanic couples decide together, yet only 15 percent of Hispanic couples sit down and pay their bills together.

The top goals Hispanic couples say they are saving together towards include:

• ·         Vacations (26 percent)
• ·         Major purchases such as  a new car, home, home repairs, etc. (24 percent)
• ·         Children’s education (12 percent)

Less Concern about Overspending

The survey also found that Hispanics are less likely (69 percent) than the general population (63 percent) to feel their significant other overspends. However, when asked what their significant other overspends on, Hispanics responded with the following top categories:

• ·         Clothing/shoes (23 percent)
• ·         Hobbies/interests (22 percent)
• ·         Dining out/restaurants (21 percent)
• ·         Technology/electronics (18 percent)

“These results showcase that overall, Hispanics maintain a healthy relationship, even when sharing finances, and are less likely to assign blame on their partner for overspending, although there are a few areas of concern within their budgets,” said Bailey. “The key to managing these budget concerns successfully is to make financial goals and expenses a regular and healthy conversation among couples.”

In the area of parenting, Hispanics (34 percent) are more likely than the general population (25 percent) to feel they spoil their children with money than their significant other (16 percent).

For special occasions, Hispanic couples typically spend the most on the following:

• ·         Holidays ($199)
• ·         Anniversaries ($142)
• ·         Birthdays ($113)
• ·         Valentine’s Day ($64)

Employment and Earnings Differences

More than half of Hispanics responded that they (54 percent) or their significant other (64 percent) are employed full-time. This is higher than general population respondents, who are more likely to have a significant other (56 percent) employed full-time than themselves (47 percent). Only 10 percent of Hispanics responded they or their significant other (11 percent) are employed part-time.

In addition nearly half (43 percent) of Hispanic respondents feel their expenses are evenly split as a couple, while 32 percent said they pay more than their significant other and 24 percent said their significant other pays more. Only 9 percent of Hispanic respondents earn the same amount of money as their significant other.

While more than half (64 percent) are employed full-time or part-time, Hispanics surveyed are significantly less likely (11 percent) to be retired than the general population (23 percent).

Survey Methodology

The total sample includes 1,339 respondents who are in a relationship (not single). The National sample size of 1,339 has a margin of error of +/- 2.9%. Data has been weighted by age, gender and region to reflect the population. The survey was fielded May 28 – June 3, 2015.