Same-sex couple families with kids have lower debt levels

“When it comes to managing family finances, the study revealed that same-sex couple families, which combine those couples with and without kids, have more in common with traditional families than any other modern family type,” said Allianz Life Vice President of Consumer Insights Katie Libbe. “The financial services industry should take note that same-sex couple families are the most financially prepared type of modern family.”

The Allianz LoveFamilyMoney Study was designed to seek insights into the unique financial needs of today’s families. The other modern family types identified beyond traditional and same-sex couple families include single-parent households, those with adult children returning home (boomerang families), multi-generational families, blended families and families with older parents and young children. Survey participants were between 35 and 65 years old with household incomes of at least $50,000. 

Same-sex couple families with kids were just as likely as traditional families to report that it is easy to discuss family finances with their spouse or significant other (87 percent) compared to other modern family types (82 percent). Yet, significantly more same-sex couple families with kids describe their family as able to adapt to change (89 percent), when compared to both traditional families (80 percent) and other modern family types (81 percent). What’s more, when same-sex couple families with kids compare their current family to the one they grew up with, their current family is less sheltered (33 percent) compared to traditional families (24 percent).