RBC Finds Canadian Couples Talk More About Money

Royal Bank of Canada (RY) has conducted a survey among Canadian couples who married recently, or are thinking about getting married.

According to the RBC Love, Money & Marriage poll, finance is a hot topic for those Canadian couples as the pandemic sparks more financial conversations. (See Analysts’ Top Stocks on TipRanks)

The poll looked at the finances of Canadians planning to get engaged or married in the next five years, those who were engaged and had to change their marriage plans, and those who got married during the pandemic.

The majority (68%) of respondents indicated that they have talked more about finances with their partner since the start of the pandemic, and almost half (47%) of them admitted that finances are one of the most important stressors in their relationship.

For many respondents, financing a wedding is a big source of stress. A third of them find financial planning for a wedding stressful. Two-thirds say they would delay their marriage so they could buy a house sooner.

“It’s not uncommon to find couples don’t always have the same comfort level when it comes to finances. We also know, however, that being on the same page financially and making money decisions together can go a long way toward reducing stress and helping couples build a strong future together,” says Stuart Gray, Director, Financial Planning Centre of Expertise, RBC.

On September 1, Credit Suisse analyst Mike Rizvanovic kept a Buy rating on RY with a C$144 price target. This implies 10.2% upside potential.

The rest of the Street is bullish on RY with a Strong Buy consensus rating based on eight Buys and two Holds. The average Royal Bank of Canada price target of C$143.97 implies 10.2% upside potential to current levels.

TipRanks’ Smart Score

RY scores an 8 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock returns should outperform the overall market.