Divorce happens for many reasons, but it’s clear that financial reasons are often cited. They can create a lot of marital stress, and couples will often bring them up when deciding that it is time to end their marriage.
But even within this broader category of “financial issues,” there are many specific reasons why a couple finds themselves facing divorce. Below are a few examples of how this could happen.
First and foremost, some couples will find themselves moving toward a divorce because one person is creating a lot of debt or financial insecurity for the family. In fact, the majority of Americans say that a partner with excessive debt is a good reason to at least consider getting a divorce. This could happen if that person has a gambling addiction, an alcohol addiction, a significant amount of student loans or simply frivolous spending habits.
Another potential issue is financial infidelity, which is when someone is spending the couple’s money in secret. Maybe they try to disguise their spending or lie about it. Perhaps they just don’t tell their spouse how they’re using the money – this is especially common when only one person tends to handle all of the financial decisions for the couple. Financial infidelity can also expose other issues – such as communication and trust issues – within the relationship. The financial issues may just be a symptom of these deeper problems, which are actually the reason for the divorce.
Spending vs. saving
Finally, some people view money differently. One person may focus on saving money, while the other person doesn’t hesitate to spend money. Both people just view money differently and feel that their view is correct. But those views may not be fully compatible in a marital relationship. Over time, each person starts to feel like their spouse is working against them – someone who is trying hard to save for retirement feels like their spouse is ruining those efforts with every purchase they make, for example.
These are just three examples of the financial issues that can lead to divorce. Those going through this process should be well aware of their legal options at this time.