#RelationshipGoalsHow American Couples

are Saving Together

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The ways we couple-up, cohabitate and balance responsibilities in relationships

have changed dramatically in the past decade.

Not only are Americans getting married later,1 but more couples are moving in together before making a lifelong

commitment,2 and a growing number of families are dual-income.3 All of these changes have continued to

complicate what is already a challenging aspect of any relationship: managing money, together.

Countless surveys have shown that money is a top source of conflict and stress in relationships, and that hiding

purchases or keeping secret bank accounts from your spouse or partner happens more often than you think.4

But the reality is that across the United States, an estimated 73 million people report finding it “difficult to get

by” financially.5 Real wages are not much higher than they were in 1989,6 and without much financial literacy,

we’re responsible for navigating the complex world of saving and investing on our own.

For most of us, money is just a means to an end. That end is a life full of dreams achieved, and time spent with

family and friends. There shouldn’t be constant worry about finances, but rather spending time - and money - on

what brings you joy and meaning.

Most people who manage their family’s finances have

both big and small goals they’re constantly working

toward. Beyond setting yourself up for a comfortable

retirement, there are weddings, dream vacations and your

“forever home,” among other aspirations for the future.

To better understand how Americans are saving together,

Twine partnered with Equation Research to ask 1,000

adults ages 25+, who are in long-term relationships, how

they save collaboratively with their partner and

exactly what they are saving toward.

This report shares insights into how modern couples are

saving, goal-setting and communicating about their life

dreams.

Overview

FOR THIS REPORT, A

LONG-TERM RELATIONSHIP

IS DEFINED AS A

COMMITTED RELATIONSHIP

THAT THE RESPONDENT HAS

BEEN IN FOR TWO YEARS OR

MORE. THIS INCLUDES

SERIOUS RELATIONSHIPS,

MARRIAGES, DOMESTIC

PARTNERSHIPS, ENGAGED

COUPLES, ETC.

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44%30% 62%F

ive

Sta

ts

to

Kn

ow

30%

of millennials in relationships

report keeping a financial

secret from their partner7

41%

44% have less than $400

saved for emergencies8

62%

of Americans cite

“money” as their top

source of stress9

Young couples are

MORE LIKELY THAN EVER

to be earning similar incomes10

Only 41% of Americans have a

budget11

Key Takeaways

Impatience doesn’t pay off.

While most people in

relationships have life goals, they

are likely to drop them when

priorities change or something

else comes up.

Does collaborative saving give

you cold feet? While many

couples combine finances,

almost one-third feel stressed,

anxious, annoyed or confused

when it comes to saving money

with their partner.

Can we talk? Communication

is the biggest challenge when it

comes to saving money

together. A whopping 70 percent

of couples said they are just

talking to their partner

sporadically in conversation

about finances, and few are

regularly consulting financial

professionals for advice.

ONE. TWO. THREE.

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01. Setting #GoalsYou don’t need your whole future mapped out to have life goals.

When asked if they have a life goal,

88 percent of respondents

indicated they have one or more.

Here are the most common goals:

Most Common Financial Life Goals

37%

Emergency fund28%

Vacation24%

Home renovations22%

New car19%

College tuition for kids

15%

Down payment6%

Second home5%

New gadgets3%

Wedding

LIFE GOALS, ALSO CALLED MEDIUM-TERM GOALS,

ARE FINANCIAL MILESTONES FAMILIES WORK

TOWARD BEFORE RETIREMENT AND ARE

TYPICALLY ACHIEVED BETWEEN 3-10 YEARS. THIS

COULD INCLUDE GOALS LIKE BUYING YOUR FIRST

HOME, SAVING TO START A FAMILY, PAYING FOR A

WEDDING, OR GOING ON A DREAM VACATION.

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More people are focused on near-term goals

(achieved within the next 1-3 years), that offer

immediate gratification, with a majority of

respondents saving for emergency funds and

vacations. It makes sense that the more

immediate needs take priority - you might be

planning to take a vacation before buying a house

a few years down the road. That said, people still

have the future in mind. According to the results,

62 percent of respondents (and 74 percent of

millennials) are currently contributing to a 401(k).

PICK A GOAL YOU’RE WORKING TO ACHIEVE IN THE

NEXT ONE, FIVE, 10, EVEN 20 YEARS, AND FIGURE

OUT HOW MUCH TO SAVE MONTHLY. ESTABLISH A

TIMELINE FOR WHEN YOU WANT TO ACCOMPLISH

YOUR GOAL, THEN COMMIT YOURSELF TO AN

AUTOMATIC SAVINGS PLAN SO YOU CAN SET IT

AND FORGET IT.”

- Uri Pomerantz, CEO, Twine

S AV I N G S H AC K :

Saving for goals can be tough. When asked why life goals are abandoned, most respondents indicated that life and unexpected expenses

simply get in the way.

Most Common Reasons Goals are Abandoned

#1

Something else comes up (34%)

#2

Personal priorities or goals change

(27%)

#3

Change of circumstance

(divorce, job loss, etc.) (17%)

#4

Not enough money to save (11%)

#5

Takes too long to achieve goal (3%)

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02. Saving TogetherAmericans have ambitious savings goals.

Americans have ambitious savings goals, which may explain why our findings showed that many couples do

combine their finances - especially to reach a life goal - and the majority approach the idea of doing so with

excitement and optimism. Reasons for taking the plunge included, “that’s what families do (55 percent),” it

“makes life easier (28 percent)” and it “avoids arguments over money (7 percent).”

How Couples are Saving Together

74%

share a checking account 68%

share one or more credit cards

68%

share a savings account

Despite the willingness to pool finances to buy that new car or put a down payment on a house, there isn’t much

patience when it comes to the amount of time people are willing to actually save for those goals. Thirty-nine

percent of respondents will only save for one year before throwing in the towel - a short amount of time when it

comes to building significant savings, especially for things like a home.

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To really pull the curtain back on saving versus spending, respondents were asked to share how they allocate

extra funds - whether they are gifted, received as a bonus, or won. The results showed that the likelihood to

impulse purchase or splurge when a little extra money comes in may be causing set backs toward achieving life

goals:

Where Would You Put Extra Cash?

$50 $100 $500 $1,000 $5,000

Spend it on myself

Towards a shared life goal

In a savings or retirement account

66%

42% 55%

56% 69%

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In reality, how often do we receive large sums of

money at once? Relying on a yearly tax return,

holiday bonus or birthday gift to reach financial

goals will delay crossing the finish the line, and

given that many are only willing to save for about

a year, the chances couples will actually achieve

their goals declines.

SAVE IN SMALLER, CONSISTENT AMOUNTS. IT’S MORE

SUCCESSFUL, AND FAR MORE PREDICTABLE.

S AV I N G S H AC K :

Not everyone is as willing and optimistic about their finances and saving. Fear and confusion can plague people

about personal finances, saving and investing. That fear creates roadblocks for those working towards a

financial goal, and ultimately deters people altogether from combining finances with their partner. According to

our survey, nearly one-third of U.S. men and women noted fear, confusion and anxiety when thinking about

saving with a loved one.

Reasons Couples Hold Off on Combining Finances

We made a joint

decision and

prefer to manage

everything

separately

We haven’t had

the time to

combine

everything

It’s too

complicated

I don’t know

where to start

with combining

our finances

I don’t trust my

partner to have

access to a

shared account

I’m embarrassed

to share my

finances with my

partner

51% 20% 14% 7% 5% 3%

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03. Getting on the Same Page — #RealTalk

Talking about money is rarely comfortable.

Talking about money is rarely comfortable, especially when it happens between couples who may have

conflicting viewpoints on how that money should be saved and spent.

The results of the study suggested that there is room for improvement when it comes to talking about financial

goals. As noted in previous sections, couples are on the right track in setting goals and saving together, but it’s

the communication that appears to be a barrier to aligning and achieving those goals.

While 43 percent of respondents indicated they talk to their partner about financial goals daily or weekly, it’s the

how and where they are talking about these goals that may be impacting getting on the same page and working

toward achieving these goals.

Most common places couples talk about their financial goals

#1

Sporadically during casual

conversation (70%)

#2

Over a meal at home (52%)

#3

Over a meal in a restaurant (20%)

#4

Over text or email (11%)

#5

A predetermined meeting time (9%)

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It’s not terribly surprising to see that couples who are managing busy work and life schedules aren’t setting up

time to sit and talk about their finances. However, when you consider that 52 percent have never consulted a

financial professional about their goals, it raises a red flag that the serious conversations about goal setting and

planning aren’t happening at all.

CONSIDER USING TECHNOLOGY TO HELP KEEP YOU MOVING IN THE RIGHT DIRECTION AND STAY ON THE

SAME PAGE ABOUT YOUR GOALS. OF THE 38 PERCENT OF SURVEY RESPONDENTS WHO ARE USING AN

APP OR TECHNOLOGY TO MANAGE OR SAVE THEIR MONEY, A STRONG MAJORITY (84 PERCENT) SAID IT HAS

HELPED THEM IN SOME WAY - WHETHER THAT’S SAVING MORE MONEY, SAVING FASTER OR FORCING YOU

TO SAVE.

S AV I N G S H AC K :

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After analyzing the views of 1,000 consumers in long-term relationships about

their collaborative savings habits, a few key trends emerged.

By far the biggest challenge that couples face is communication. Only four in 10 couples discuss their financial

goals with each other and for the vast majority (70 percent), the conversations are sporadic and casual,

rather than planned discussions. Only a small sliver (nine percent) of couples discuss their finances during

pre-planned meetings.

While couples struggle to communicate effectively about their finances, the good news is that the desire to

save together is there. Most couples share both a checking and savings account, citing the fact that combining

finances is convenient and simply ‘what families do.’ Most couples feel optimistic and motivated to save with

their partner.

The reality is that combining and managing finances alone or as a couple is complicated. Couples need better

education, support and real world tips about how to maximize family funds in order to manage and reach their

life goals all in one place.

Technology that taps into behavioral finance and machine learning algorithms, nudging people along in their

savings journey, is the next generation of saving. Technology can make it easy and painless to save. Even when

something unexpected pops up (the top reason people abandon financial goals) they should still be able to work

toward those goals because they have a plan set.

Looking Ahead

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A B O U T T W I N ETwine is the first savings app built for two. It simplifies saving for major milestones like weddings, down

payments and vacations. With a simple interface and intuitive dashboard, Twine makes it easy to open and

manage goal accounts and keeps you and your partner on the same page. Twine is backed by John Hancock,

leveraging the company’s 150 years of stability and expertise to provide bank-level security to keep user

information and accounts safe. Twine is currently available for iOS in the App Store. To download, visit

http://apple.co/2BZWCjJ. Twine is a service provided by John Hancock Personal Financial Services, LLC, an SEC

registered investment adviser.

A B O U T J O H N H A N C O C K A N D M A N U L I F EJohn Hancock is a division of Manulife Financial Corporation, a leading international financial services group

that helps people achieve their dreams and aspirations by putting customers’ needs first and providing the right

advice and solutions. We operate primarily as John Hancock in the United States, and Manulife elsewhere. We

provide financial advice, insurance and wealth and asset management solutions for individuals, groups and

institutions. Assets under management and administration by Manulife and its subsidiaries were over $1 trillion

(US$806 billion) as of September 30, 2017. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and

PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.

One of the largest life insurers in the United States, John Hancock supports approximately 10 million Americans

with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and

college savings plans. We also offer advice through Signator, a network of independent financial advisors.

Additional information about John Hancock may be found at johnhancock.com.

M E T H O D O LO GYThis report was commissioned by John Hancock/Twine and fielded by independent research firm Equation

Research in November 2017. The responses were generated from a survey of 1,013 people ages 25+, who

self-identified as being in a committed relationship for two years or more and have a household income of at

least $50,000.

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S O U R C E S

1. Cohn, D., Passel, J. S., Wang, W., & Livingston, G. (2011, December 14). Barely Half of U.S. Adults Are Married

– A Record Low. Pew Research Center. Available Here.

2. Koebler, J. (2013, April 4). More People Than Ever Living Together Before Marriage. U.S. News & World Report.

Available Here.

3. Wang, W., Parker, K., & Taylor, P. (2013, May 29). Breadwinner Moms. Pew Research Center. Available Here.

4. Mecia, T. (2016, February 2). Poll: 13 million Americans commit financial infidelity. CreditCards.com.

Available Here.

5. Report on the Economic Well-Being of U.S. Households in 2016. (2017, May). The Federal Reserve.

Available Here.

6. U.S. Bureau of Labor Statistics, Employed full time: Median usual weekly real earnings: Wage and salary

workers: 16 years and over. (2017). Federal Reserve Bank of St. Louis. Available Here.

7. TD Bank Love & Money Report. (2017, July). TD Bank. Available Here.

8. Report on the Economic Well-Being of U.S. Households in 2016. (2017, May). The Federal Reserve.

Available Here.

9. Stress in America: The State of Our Nation. (2017, November 1). American Psychological Association.

Available Here.

10. Wives’ Earnings Make Gains Relative to Husbands’, Census Bureau Reports. (2015, November 23). U.S.

Census Bureau. Available Here.

11. 2016 U.S. Bank Possibility Index. (2016). U.S. Bank. Available Here.