Money plays an integral part in marriage. Accordingly, it can lead to a divorce. Many divorce cases are caused by money-related factors, both the existence and lack of it.
Here is how money can result in the dissolution of a marriage:
Debt
A spouse with low or no debt might feel dissatisfied in a marriage with time. They may believe their spouse’s debt prevents them from living the life they want, perhaps they are unable to go on vacations or increase their investments.
Further, if the spouse with low or no debt is helping the other pay off their debt, they may feel like they are making considerable sacrifices in the marriage. Such emotions can lead to disagreements that can negatively impact the marriage.
Couples with debt should communicate effectively on how to pay it off without sacrificing the life they want.
Financial infidelity
Financial infidelity can happen at any point in a relationship. A party may intentionally conceal debt incurred before or during the marriage. One may also hide purchases or habits, such as a gambling addiction. It’s also not uncommon for spouses to have secret banking accounts.
If the other party discovers any form of financial infidelity, a marriage is likely to be affected.
Different money beliefs
A marriage may experience problems stemming from different money beliefs. For example, one party prefers spending while the other wants to save. Or one party wants to save, whereas the other is more risk-tolerant and wants to invest in stocks and shares.
Partners should discuss money beliefs or financial goals before marriage to avoid fights that could lead to divorce.
If you and your spouse are going through a divorce for a money-related matter or any other reason, learn more about the process to make informed decisions.