When money divides spouses 

On Behalf of | Jun 14, 2024 | Divorce

Maintaining a healthy relationship can be challenging. Some couples manage to navigate obstacles and build a stronger bond, but others find disputes impossible to overcome. While divorce rates have fallen overall, a significant number of marriages still end this way. 

The causes of divorce are numerous, but arguments over money are a common factor. Outlined below are some of the most common sources of financial arguments between spouses

Undisclosed debts 

At the beginning of any relationship, it’s natural for people to try and portray themselves in a positive light. For example, a person may be ashamed of being in debt and may not disclose this to their partner. However, when a relationship becomes serious, it’s important to be completely truthful. Undisclosed debts can cause tension between couples because paying off these debts can limit how a couple can spend their money. 

Pooling resources 

While each spouse should retain some independence, married couples need to work as a team. Often, this involves opening joint bank accounts and pooling resources. This can be a big adjustment, and it’s one that some spouses just never get used to. 

Different priorities 

There are more important things in life than money, but it plays a significant part in almost every action we take. For example, buying a car or house, starting a family or going on vacation requires a lot of money. If one spouse wants to start a family, but the other wants to spend the next year traveling, this is a clash of priorities. Clashes like this have the potential to cause serious disagreements. 

If divorce is on the horizon, then it may benefit you to start looking into your legal options.