SAN FRANCISCO (PRWEB) MAY 22, 2018 Mobile banking company Varo Money, Inc. has announced the results of their “Talk Money to Me” survey. The survey of more than 1,000 U.S. adults age 18+, conducted by Propeller Insights on behalf of Varo Money in March of 2018, revealed that money is not a major consideration for Americans when picking a partner—except for millennial men. The survey also revealed that women are increasingly out-earning their partners, that many women hate the term “girl boss,” that the vast majority of Americans (88%) think women are as effective—or more effective—than men in the political arena and Americans’ feeling about the pay gap.
Gender equality in the workplace continues to be hot-button topic, but the data shows that people are more interested in doing a job they love than closing the pay gap: two-thirds (65%) of men would accept their dream job even if they knew they’d be paid less than someone of the opposite sex, as would 55% of women. The percentages are even higher among millennial men (71%) and women (64%).
Having said that, 36% of American women make more money than their partner, and this figure is even higher among millennial women (40%). More than half of women (52%) have also completed a higher level of education than their partners.
Most Americans (73%) say they do not care if their significant other makes more or less money than them, and more than half (53%) say wealth is not a consideration when they are picking a life partner. Women are twice as likely (10%) as men (3%) to say that if their partner earns less money than them, it negatively impacts the relationship. Only 5% of Americans would prefer to marry someone who earns less than they do.
Money seems to be a bit more of an aphrodisiac for millennials, however: 29% would like to marry someone who earns more money than they do, and more than a quarter say it affects their relationship and romantic dynamic “positively” when their partner earns more money than they do. This is especially true of millennial men:
About a third (36%) of millennial women would marry someone who earns more in order to be a stay-at-home parent.
On the other hand, money also seems to be a point of greater stress for younger generations. Nearly 20% of millennials and Gen Xers have ended relationships because of “money issues” compared to just 5% of Americans over the age of 55. Also in stark contrast to older Americans, the majority of millennials (60%) have not held a job for more than three years.
“Millennials have a lot of unique money issues that other generations have not faced—student loans, housing costs, a changing economy—and that means they must be on top of their finances,” said Emily Brauer Gill, Director of Brand & Communications at Varo Money. “At Varo, we offer our customers a solution for managing their money without adding stress to their lives.”
When it comes to politics, the majority of Americans—regardless of gender—feel that women politicians are just as effective as men (68%). Another 20% feel that women are more effective.
Men believe that women make more effective politicians because they are “more caring” (35%), more level-headed (31%), and more willing to compromise (26%). On the other hand, women believe women make more effective politicians because they are harder working (35%) and care more about results than status (35%). Only 12% of Americans believe women make less effective politicians.
When do Americans graduate from “girls” and “boys” to “women” and “men”? Most Americans (51%)—and even more millennials (62%)—feel that they are all grown up by age 18.
Varo Money, Inc. (“Varo”), is changing the future of banking with their mobile app: a frictionless bank account offered through The Bancorp Bank that also helps customers do more with their money. Varo is building a mobile banking experience that helps customers cover their expenses, pay their bills and build their wealth over time — so they can stop worrying about money and go live their lives. Unlike traditional banks or other fintech apps, Varo offers a complete solution with integrated deposit, budgeting, savings, and lending products that aim to help customers bank with ease and achieve better financial outcomes. There’s no reason for a bank branch on every corner anymore: all that customers need is an iPhone to bank seamlessly. Based in San Francisco and privately held, Varo has raised $78M to date, led by Warburg Pincus. Varo Personal Loan and Varo Backup Line are offered by Varo Money, Inc., under state licenses, subject to application approval. For more information, please visit https://www.varomoney.com and follow Varo on Facebook @varomoney or Twitter @varomoney.
Varo Bank Accounts are provided by The Bancorp Bank, and deposits are FDIC-insured up to $250,000 through The Bancorp Bank; Member FDIC.