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What types of money issues are common in divorces?

| Jan 10, 2020 | Uncategorized |

They say money makes the world go ’round, and they have a point. It’s needed for everything you do. Without it, you probably wouldn’t have a roof over your head, food in your pantry and clothes on your back. For these reasons, it’s no wonder that money troubles cause a great deal of stress.

If you are married, then you already know that money can be a source of contention for couples. These concerns don’t discriminate based on income, socioeconomic status or any other factor for that matter. Couples who seem to have it all financially may argue about money more than couples who live paycheck to paycheck, and vice versa. The question is, what kinds of money issues cause some couples to consider divorce?

Money woes common in divorce

Certain situations tend to cause more contention in a marriage than others do. Below are some of the more common money woes that could lead to divorce:

  • If one of you takes control of the money away from the other, that could lead to ill feelings.
  • If you and your spouse have different attitudes about money, it could cause problems.
  • If you spent a significant amount of money on your wedding, starting out with that debt could create tension.
  • If your financial priorities differ, you could end up arguing about money more often.
  • If you encounter major expenses that you didn’t anticipate, it could cause stress in your relationship.
  • If you have significant credit card debt, it could cause tension between the two of you.
  • If you hesitate to combine your bank accounts or can’t understand why your spouse doesn’t want to do so, it could cause issues.
  • If one of you secretly spends money, hides purchases, fails to tell the other about debt or otherwise keeps financial secrets, it could breed distrust.
  • If you or your spouse make large impulse purchases without the other, arguments could follow.
  • If you stretch your budget to the brink, the associated stress could adversely affect your relationship.
  • If you and your spouse aren’t willing to compromise when it comes to your spending, you will undoubtedly end up arguing about it.

Any of the above circumstances would test your marriage. In some cases, the stress is simply too much to sustain the relationship. While people will say to celebrate the differences in your relationship, some differences are too much to overcome.