Financial Problems That Can Kill Your Marriage

Financial problems are among some of the biggest marriage killers and, unfortunately, many couples neglect to discuss their financial goals, habits, and needs before tying the knot. Whether one spouse is a saver and the other is a big spender or you both simply cannot see eye-to-eye on how to use your funds, these issues can ultimately result in a divorce.

Money Issues and Divorce

There are many ways in which finances can disrupt a marriage, creating a rift so deep that the marriage may no longer be salvageable.

Here are some of the biggest marriage killers:

  • Bill splitting: Although it sounds reasonable to split everything equitably, it also divides a couple’s spending power and their ability to fulfill joint financial goals. Moreover, when spouses keep their assets separate, it may result in one hiding money, which can irreversibly break trust. If one partner ends up needing to leave the workforce to care for children or to return to school, this arrangement will be impossible to keep up. It is best to work as a team.
  • Debt: Most people have debt, whether it be student loans or credit cards, but when one spouse has substantially more debt than the other, it can lead to questions about spending habits and financial responsibility. Massive debts can put a damper on a marriage and the debt-free spouse may even begin to see it as a burden.
  • Personalities: If you are a saver and invest in a retirement account while your spouse is a risk-taker and prizes immediate gratification over long-term goals, it can create a lot of problems and lead to constant arguments.
  • Extended family: Some couples provide a lot of financial assistance for their extended family members and, when there are disagreements regarding whose financial needs should be prioritized, it can create a lot of issues. For example, if your spouse’s brother needs help paying for a car, but you have some other pressing expenses in your household, it could spark an argument, especially if issues like this regularly come up.

Schedule a Case Evaluation with an Experienced Divorce Lawyer Today!

If you cannot make your marriage work, do not hesitate to retain skilled legal representation. At Ford & Friedman, our skilled family law team has what it takes to guide you through your divorce and will work tirelessly on your behalf to obtain the best possible outcome.

Reach out to our legal team today at (702) 904-9898 to schedule a consultation with one of our attorneys!