Over one in three (37%) young Americans are putting off getting married because of debt, according to new research. A poll of 1,000 millennials and 1,000 Gen Zers found — of the younger generations with debt — 84% have considered delaying or holding off on taking their relationship to the next level because they want to pay off their debts first.
Due to debt, 37% are delaying engagements, while a further 37% are holding off on getting married. Another 25%have put on hold moving in with their partner, while 29% have delayed purchasing a home. At the same time, debt is no longer taboo among younger generations. Conducted by OnePoll in conjunction with Laurel Road, a digital lending platform, the survey explored the relationship dynamics and financial habits of 1,000 millennials and 1,000 Gen Zers.
Results uncovered that 81% of respondents understand debt is common amongst their peers — and don’t want to let it negatively affect their romantic relationships. The results also revealed that a third (33%) of respondents currently have debts they are working to pay off, but younger generations are trying to be proactive and seek advice about how best to handle their finances.