Same-sex couple families with kids are emerging leaders when it comes to success with their finances, according to an Allianz Life LoveFamilyMoney Study of 4,500 Americans.
When asked how financially secure they feel, almost four in 10 (37 percent) same-sex couple families with kids reported feeling a high level of financial security, a very similar level to traditional families (41 percent) and significantly higher than each of the other modern family types identified. In the study, same-sex couple families were the only modern family type that included respondents with and without kids because of their developing and unprecedented family structure.
The Allianz LoveFamilyMoney Study also discovered that same-sex couple families with kids have a similar financial profile as traditional families. When asked to describe their current financial situation, half of same-sex couple families with kids (50 percent) and traditional families (52 percent) described themselves as either wealthy/affluent or financially comfortable. This was much higher than all other modern family types who reported the same current financial status.
Same-sex couple families with kids and traditional families report having lower levels of debt than other modern families. An equal proportion of same-sex couple families with kids (22 percent) reported having no debt (not including mortgage) as traditional families. In contrast, only 16 percent of other modern family types reported having no debt.