Gen Z demands honesty on finances but hides more money secrets than other Canadians
Canadians want financial honesty in love – but many still avoid the “money talk” until it’s late in the game.
A new TD survey shows money now plays a central role in how Canadians date, argue and choose long-term partners – and Gen Z is at the sharp edge of that shift.
Canadians are cutting back on pricey dating and quietly reshaping their relationship criteria.
Nearly three in 10 Canadians (30 percent) say they now go on fewer dates because they’re expensive, while 29 percent have switched to more low- or no-cost options.
Gen Z leads the move to frugal dating, with 36 percent opting for cheaper outings.
The same economic pressure is pushing money conversations earlier into relationships.
One in four Canadians (25 percent) now prioritizes financial transparency sooner, and 22 percent focuses on finding someone who shares their perspective on finances.
Others are sharpening their filters: 18 percent prioritise a partner who is good with money, 16 percent prioritise secure financial standing, 11 percent report more arguments about money, and 9 percent say they are putting off considering having kids.
Canadians are navigating an evolving economic landscape and shifting their priorities, says Jeet Dhillon, senior portfolio manager at TD Wealth.
She explains that adapting to these new realities in relationships means “reassessing what truly matters” – from how people spend and save to how they connect with one another.
Gen Z is both the most demanding about money and the most likely to bend the rules.
More than half of Gen Z Canadians (54 percent) rank lying about money as their top financial relationship dealbreaker, yet four in 10 (40 percent) admit to keeping a financial secret from their partner – 13 percent higher than the national average.
Gen Z also leads in maintaining separate bank accounts in relationships (54 percent versus 32 percent of Canadians overall).
Economic uncertainty appears to be hardening Gen Z’s expectations.
Nearly one in four Gen Z Canadians (24 percent) now puts greater emphasis on seeking partners with sound financial habits, compared with 18 percent of other generations.
For the second straight year, a majority of Gen Z (51 percent) say they would want their partner to sign a prenup if they get married or enter a common-law relationship, far above the national average of 28 percent.
Across age groups, Canadians say financial transparency and behaviour now carry real weight when choosing a partner.
More than half of respondents point to financial transparency (52 percent), spending habits (51 percent) and having similar financial goals (51 percent) as big factors, while 41 percent consider debt levels important.
Top dealbreakers include lying about finances (53 percent), bad spending habits (43 percent), never offering to pay for anything (41 percent), making risky investment decisions (28 percent) and refusing to save for mutual goals (25 percent).
Yet many couples still delay frank conversations about money.
Two in five Canadians (39 percent) say they only had the “money talk” after moving in together or at later milestones such as marriage or entering a common-law arrangement, and 15 percent have not had that conversation at all.
A full 35 percent say they do not have a shared budget with their partner, and among those who do, three in 10 (29 percent) struggle to stick to it.
Thirty-five percent of Canadians want a shared financial plan with their partner, showing that “transparency and boundaries around money are top of mind for singles and couples alike,” Dhillon says.
She adds that “building a strong financial future together starts with honest conversations and professional advice” to lay the foundation for lasting resilience.
