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How can financial issues lead to a divorce?

On Behalf of | Feb 21, 2024 | Firm News

If you ask divorced couples why they divorced, money issues will often appear as one of the factors. Understanding more about this can help you assess the state of your marriage.

Here are some of the factors that could make a divorce more likely:

You have different attitudes to money

Are you a spender or a saver? What about your spouse? If you sit too far apart from each other on the scale between spending and saving, it could soon prove problematic. One of you might feel the other is irresponsible for wanting to spend on something, while that person might feel the other is so focused on saving for retirement they have forgotten how to enjoy life.

You come under severe financial strain

Modern-day living costs mean many couples struggle to make ends meet. They may have to cut down on occasions like going out for a meal with friends or taking a vacation that help them relax and enjoy life as a couple. It might feel like the relationship is no fun anymore.

Unexpected costs such as medical bills can also add huge financial pressure. As can debts. All these things can affect peoples’ enjoyment of life, their patience, mood and ultimately their marriage.

You are not honest about your finances

How would you feel if you discovered your spouse has secretly been losing your joint savings at the local casino? Or if you discovered they had been investing in cryptocurrency which you consider too great a risk? You’d likely consider it a grave breach of trust, and trust is crucial in a marriage.

If the money is on your marriage ending in a divorce, then it’s wise to learn more about how that will play out.