Stable finances are central to maintaining a marriage. However, couples often consider it a sensitive topic and opt not to discuss it until much later when issues are already piling up.
A Harris Poll survey shows that money, whether having or saving enough of it, is a significant stressor. Due to differing views on how to use it, it can cause tension among families. Unfortunately, when fights about financial matters escalate to substantial complications, a marriage can collapse into divorce.
Confronting financial disputes
Families have varied financial circumstances. Some couples do not have a child but have numerous assets and liabilities. In some cases, one spouse significantly earns more than the other. Then, there are those who always split the bill and never pool their resources.
While multiple scenarios can play out, the following are just some of the common monetary problems that potentially ruin a relationship and lead to divorce:
- Financial infidelity: A spouse hides sources of income or old debts, such as student or credit card loans
- Contrasting spending behavior: A spouse may be frugal or used to living within their means, while the other is accustomed to overspending or living extravagantly
- Disparate budgetary decision-making: A spouse may want to provide for their extended family, while the other would rather focus on their immediate family’s needs
These financial struggles can make for endless arguments and result in emotional distress. As couples break apart, they may experience losing intimacy and a meaningful connection that can ultimately end their marriage.
Communicating before it’s too late
Financial transparency in the initial stages of the relationship can make all the difference. Keeping each other aware of habits and values regarding money can develop honest conversations and prevent serious breakdowns. However, divorce may be inevitable if the red flags become too overwhelming despite exhausting viable options. When this happens, a North Carolina legal counsel can help make the process bearable. They can make things more understandable, set reasonable expectations and work toward desired outcomes.