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How can money can lead to a divorce?

On Behalf of | Jan 8, 2024 | Family Law

Money plays a huge role in marriage regarding stability and happiness. That’s why it’s among the top things couples argue about, and it can potentially lead to a divorce.

Here is how money can lead to the dissolution of a marriage:

Different beliefs about money

People have different beliefs about money influenced by parents, school, media and so on. Some people believe money is abundant and they will always have enough so they do not need to save. Others believe money is scarce and they will never have enough; hence, they need to save religiously.

People with opposing views about money can have a successful marriage if they communicate their concerns earlier. If they fail to do so, they may constantly fight about money, which can negatively affect their marriage.

Not talking about money

Money discussions are uncommon. Not everyone comes from a family that openly discusses money. And some carry this to their marriages. If a couple avoids discussing money, particularly financial stresses, issues can arise in their marriage.

Financial infidelity

Like sexual infidelity, financial infidelity can end a marriage. Examples include one spouse having secret bank accounts, failing to disclose debts, hiding a gambling addiction or secretly making big purchases. It’s beneficial for a couple to inform each other about financial moves that can affect both of them.

Living beyond their means

When a couple gets married and combines their income, they may able to upgrade their lifestyle. While this is possible, if they make mistakes in their calculations or their adherence to their new budget, they may end up in debt, which can put a strain on their relationship, increasing the chances of divorce.

If you are going through a divorce, obtain adequate information for a more manageable process.