Your Family Matters

Divorce may center around money issues

On Behalf of | Jan 22, 2020 | family law

Financial issues can and do lead to divorce, and it’s often because the family simply does not have enough money. They feel stressed. One spouse may feel like it is the other person’s fault. Even if they don’t feel that way, the couple may decide a fresh start can help.

Financial concerns are very real, and they can massively impact a relationship that is otherwise healthy. Some reasons people head for divorce include:

  • One spouse has a lot of outstanding debt
  • One spouse has poor spending habits and spends more than they can afford
  • One spouse likes to save, and the other likes to spend, so they never see eye-to-eye
  • One spouse has an expensive addiction, like gambling or drinking
  • One spouse takes far more risks with money than the other
  • One spouse is very controlling with the money and never lets the other person have a say
  • One spouse uses all of the family’s money for their own ventures, such as starting a business

Often, couples who decide to get married do not spend much time talking about their individual finances. As important as money issues are, they get overlooked as people concentrate on other things — marrying for love, sticking to the “schedule” they have for their lives or giving a child a standard family life.

It’s not that these things — family, love, etc — are not important, but money problems can eventually erode them all and lead to divorce. That’s when these couples need to know about all of the legal options they have and the steps they should take to get divorced.