Today we launched the latest chapter in the Turbo #RealMoneyTalk campaign to break down the taboo around money as the first step towards financial health. We’ve asked real people from around the country to share their stories — from debt anxieties to feeling insecure — and one thing is clear: we’re not alone in how we feel about money.
Turbo commissioned a survey conducted online by The Harris Poll of more than 3,000 Americans, ranging from Gen Z (age 18-23) to Baby Boomers (age 54-72), to uncover attitudes and behaviors around money — and more specifically, talking about money. The survey found that 70% of Americans consider money an intimate topic, even more so than politics (36%) or religion (40%)!
That’s as intimate as it gets! With nearly 4 in 5 Americans (79%) in debt (excluding mortgage) from things such as credit cards, car loans, and student loans — it’s hard to know where to turn or how to start a conversation. Especially when nearly two-thirds of Americans who have individual debt (63%) are tackling these debts alone.
The survey suggests our money talk taboo is often passed down through generations. For nearly half of Americans (47%), the topic of money was never or rarely brought up in their household when they were growing up. Today, more than half (51%) say they do not talk about money with their friends or family.
The future is promising though. Gen Z is more likely to say they are comfortable talking about money with their friends than other generations (71% vs. 61% Gen X [age 38-53] and 48% Baby Boomers). But nearly all Gen Z adults (96%) have money lessons they wished they had learned more about growing up, which indicates a real need for more #RealMoneyTalk.
The journey to financial health isn’t easy. That’s where support is essential. It’s a powerful thing when we come together. When we share our experiences with our community and support one another, anything is possible. Turbo can help you unlock your financial potential and empower you to take charge of your credit and financial health. You can see all your income, credit and loan details in a single account dashboard, and get personalized advice to help you reach your goals, whether that is improving your credit score or paying off debt sooner.
It’s time to talk about money. Really talk. Join our community and share your story with us with the hashtag #RealMoneyTalk. Learn more about the campaign at turborealmoneytalk.com.
Survey Method: This survey was conducted online within the United States by The Harris Poll on behalf of Intuit Turbo from January 23-25, 2019 among 3,050 U.S. adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Intuit Turbo.