Experian recently surveyed newlyweds nationwide to see what role credit and finances play in establishing a life together and achieving long-term financial goals, such as buying a home. The results suggest financial discussions should take place before saying “I do.”

1. 1
EDELMAN BERLAND
Experian Credit Score
Newlywed Survey Report
February 2016

2. 2 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
WHO HOW MANY ACCURACY WHEN HOW
Newlywed Adults
Nationwide
(Have been
married within
the past year)
n=1,002
Margin of Error:
+/- 3.1%
Data Collection
Occurred
January 21 -
February 1, 2016
Online Survey
Methodology
Results are compared with those of an online survey of n=1,010 married adults ages 30-
49 nationwide conducted April 16-19, 2014.
Demographics

3. 3 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Key Findings
• Finance and credit play a bigger role in the modern-day marriage
• Today’s newlyweds are more likely to have discussed long-term financial goals and credit
scores with their spouse before getting married
• A potential partner's credit score was more important to today’s newlyweds when selecting
their spouse than it has been to other married couples
• Still, newlyweds may be in for a few financial surprises
• Although most newlyweds discuss finances before getting married, one in three are still
surprised by their spouse’s financial situation and spending habits
• On average, newlyweds would spend more than $800 without telling their spouse, and
15% report having a financial account that their spouse does not know about
• Credit becomes critical within the first year of marriage
• Newlyweds’ say credit already plays an important role in their marriage – mostly in getting
good interest rates and securing a loan to buy a house, which is newlywed’s top financial
goal
• Credit scores are already a source of stress in 39% of newlywed marriages

4. THE MODERN MARRIAGE

5. 5 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
98% 95%
77%
86%
95% 92%
86%
82%
Personality Compatibility Financial Responsibility Career Ambition Physical Attractiveness
Attribute Importance
(Shown: % Important)
Married Newlywed
Similar to married couples overall, newlyweds value financial
responsibility over physical attractiveness in a spouse
Q7: How important are each of the following attributes in a spouse?

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79%
73%
69%
60%
55%
43%
76%
69% 68% 69%
55%
60%
Annual income Student loan debt Bill payment history Long term financial
goals
Retirement savings Credit score
Learned about Spouse Before Marriage
(Shown: % Learned about Spouse)
Married Newlyweds
Today’s newlyweds are more likely than married couples overall to
discuss long-term financial goals and credit scores before their
wedding
Q10: Please indicate when, if ever, you learned each of these things about your spouse. His/her…

7. 7 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
49%
33%
60%
56%
Important Agree
Married Newlyweds
Credit scores are more important and top-of-mind for newlyweds
today when they are selecting a spouse
Q16: When choosing your spouse, how important was it for him/her to have a good credit score?
Q20: To what extent do you agree or disagree: “Before I was married, I considered how a potential spouse’s credit score could affect my finances.”
Credit Score Importance when
Choosing a Spouse
Considered the Impact of
Spouse’s Credit Score Before
Marriage

8. 8 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Newlyweds discuss their financial goals more frequently and are
more likely to discuss even small, everyday purchases with their
spouses
Q13: Approximately how often do you discuss financial goals with your spouse?
Q11: How likely are you to discuss the following financial topics with your spouse?
64%
96%
75%
92%
Small, everyday
purchases
Large investments
Purchase Discussions
(Shown: % Likely to Discuss)
Married Newlyweds
30%
12%
50%
59%
20% 29%
Married Newlyweds
Financial Goal Discussions
(Shown: % Frequency of Discussions)
Weekly Monthly Less often
70% Monthly+ 88% Monthly+

9. 9 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Despite having more manageable financial situations than married
couples overall, newlyweds are more debt-averse
Q15: Please indicate whether you would agree with that statement and whether you think your spouse would agree.
61% 59%
34% 36%
Our bills are overwhelming We feel comfortable taking on more debt
Financial Decision-Making Statements
(Shown: % I would agree)
Married Newlyweds

10. FIRST YEAR FINANCIALS

11. 11 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
ONE IN THREE NEWLYWEDS
SAY THAT THEIR SPOUSE’S
ARE DIFFERENT THAN WHAT
THEY EXPECTED BEFORE
MARRIAGE
Q10A: To what extent do you agree or disagree with each of the following statements?
Q12: What is the maximum amount of money that you would spend before discussing it with your spouse?
While most newlyweds talk about finances before their wedding
day, many still end up surprised by their spouse’s finances and
spending habits
FINANCIA
L
SITUATIO
N
SPENDIN
G HABITS
33% 36%
$808
AVERAGE AMOUNT
NEWLYWEDS WILL
SPEND BEFORE
DISCUSSING IT WITH
THEIR SPOUSE
MEN
$1,259
WOMEN
$383

12. 12 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Some newlyweds even have secret financial accounts that their
spouses do not know about – particularly new husbands
Q15A: Which of the following types of financial situations do you have?
Q15B: You mentioned that you have a joint account with your spouse. Have you opened a joint financial account, merged financial accounts or
both? (Asked if have a joint financial account, n=741)
16%
74%
A secret financial account my
spouse does not know about
A joint financial account with
my spouse
Credit Card & Banking Accounts
(Shown: % Currently Have)
46%
28%
26%
Financial Account Discussions
(Shown: Among those with joint
accounts)
Opened a joint financial account
Merged a financial account
Both
MEN
20%
WOMEN
12%

13. 13 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Q14A: When you think about your first year of marriage with your spouse, what do you consider to be your biggest financial concern?
12%
13%
14%
16%
19%
23%
Having to merge financial accounts
Not being able to save enough money for
retirement
Managing joint financial accounts
Not being able to support a family
Not being able to pay off debt
Developing a shared budget
Top Financial Concern
In their first year of marriage, most couples are most concerned
about creating a shared budget with their spouse and paying off
their debt
DEVELOPING A SHARED
BUDGET
is the top financial concern for all
newlyweds regardless of age and
gender or whether this is their first
marriage or they are remarried
NOT BEING ABLE TO PAY OFF
DEBT
is the top financial concern for less
affluent newlywed couples
(combined household income less
than $50,000)

14. 14 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Q14: Which of the following do you consider to be your and your spouse’s biggest financial goal [in your first year of marriage]?
Q13A: How do you and your spouse plan to use the money that you received at your wedding?
Newlyweds’ biggest financial goal is saving to buy a home, and
most plan to put their wedding money toward a starter home
5%
6%
7%
7%
13%
19%
20%
Paying off student debt
Paying off a home loan
Paying off wedding debt
Saving for retirement
Saving for a vacation
To save to provide for
family
Saving for a home
Plans for Using Wedding Money
13%
33%
18%
9%
7%
9%
1%
33%
12%
10%
10%
10%
9%
6%
Saving for a home
Saving for retirement
Paying off a home loan
Saving for college
education
Saving for a vacation
Paying off student debt
Paying off wedding debt
Top Financial Goal
Married Newlyweds
SAVING FOR A
HOME
is the top financial
goal for all
newlyweds
regardless of age,
gender and
household income or
whether this is their
first marriage or they
are remarried

15. 15 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
33%
32%
29%
28%
24%
24%
18%
Getting good interest rates
Securing a loan to buy a house
Getting good insurance rates
Securing a loan to buy a car
Managing a joint credit account
Saving for retirement
Saving for children’s college
education
Role of Spouses’ Credit Score in Marriage
(Shown: % Has Played an Important Role in
Marriage)
Already, newlyweds report that their spouses’ credit score plays an
important role in their marriage – and is a source of stress for some
Q19: In which of the following ways has your or your spouse’s credit score played an important role in your marriage?
Q20: To what extent do you agree or disagree : “My spouse’s credit score OR My credit score has been a source of stress in our marriage.”
39%
61%
Credit Score as a
Source of Stress in
Marriage
Yes No
80%
ANY OF
THESE

16. 16 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Q21: Please indicate whether you and your spouse have ever encountered each of the following financial situations since getting married:
Required a co-signer
Q22: Which of the following describes the reason(s) you needed a parent or in-law to co-sign on your behalf? [Asked of those who have required a
co-signer since getting married, n=188]
19%
HAVE REQUIRED
A PARENT OR IN-
LAW TO CO-SIGN
ON THEIR
BEHALF AFTER
GETTING
MARRIED
Many newlyweds still need a co-signer even after their wedding day
because they have a brief employment history or insufficient
income
25%
34%
35%
36%
Debt from previous marriage
Poor credit
Insufficient income
Not been employed long enough
Reasons for Needing a Co-Signer
(Shown: Among those who Required a Cosigner)

17. IDENTITY THEFT &
PROTECTION

18. 18 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Q18A: How, if at all, do you monitor your personal credit?
Q18: How knowledgeable do you feel about credit scores and reports?
35%
47%
18%
Knowledge of Credit Scores &
Reports
Very knowledgeable
Somewhat knowledgeable
Not knowledgeable
Newlyweds claim to be well-informed about credit, yet many do not
engage in credit monitoring activities
14%
17%
27%
28%
33%
41%
42%
Enrolled in paid credit
monitoring service
Use a financial app
Receive fraud alerts from bank
Enrolled in free credit
monitoring service
Review credit report annually
Check credit score annually
Check financial statements
regularly
Credit Monitoring Practices
38%
ENROLLED IN
CREDIT
MONITORING
SERVICE

19. 19 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
22%
28%
33%
17%
Identity Theft Impact on Financial
Goals
(Shown: Among victims of identity theft)
Impacted a great deal
Impacted somewhat
Not impacted too much
Not impacted at all
Identity theft has a significant impact on newlyweds’ financial goals
Q21: Please indicate whether you and your spouse have ever encountered each of the following financial situations since getting married: Identity
theft
Q23: To what extent has identity theft impacted your family’s financial goals? [Asked of those who have been / whose spouses have been victims
of identity theft, n=149]
50%
IMPACTED
15%
OF NEWLYWED
MARRIAGES
HAVE AT LEAST
ONE SPOUSE
THAT HAS BEEN
A VICTIM OF
IDENTITY THEFT

20. APPENDIX

21. 21 © Copyright 2014 Daniel J Edelman Inc. Intelligent Engagement
Categor
y
Subcategory
Tot
al
Gender
Male 49%
Female 51%
Age
18-24 14%
25-34 48%
35-44 23%
45+ 15%
Region
Northeast 18%
South 37%
Midwest 22%
West 23%
Race
White 74%
African-
American
13%
Asian 7%
Other 6%
Ethnicit
y
Hispanic 21%
Non-Hispanic 79%
Category Subcategory Total
Children
Yes 35%
No 65%
Previous marriage 9%
Education
HS or less 14%
Some college 29%
College graduate 40%
Graduate school 17%
Previously
Married
No 74%
Yes, Once 18%
Yes, 2+ times 7%
Knowledg
e of own
credit
score
Yes 79%
No 14%
Unsure 7%
Totals may not add up to 100 due to rounding
Category Subcategor
y
Self Spous
e
Credit
score
Poor 9% 11%
Average 14% 13%
Good 23% 25%
Very Good 33% 31%
Exceptional 19% 18%
Unsure 2% 1%
Employme
nt
Employed 80% 86%
Retired 3% 3%
Unemployed 3% 3%
Student 4% 2%
Homemaker 8% 4%
Individual
annual
income
< $25K 29% 22%
$25K - $49K 26% 33%
$50K - $74K 19% 22%
$75K - $99K 13% 12%
$100K+ 9% 7%
Refused 4% 4%
Demographics

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