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How money conflicts lead to divorce

On Behalf of | Sep 26, 2022 | Divorce |

Money is often cited as one of the main reasons for divorce. Financial troubles are at the heart of the problems in the relationship, causing people to end it.

This may be true, but it can happen in many different ways. Let’s consider a few of the different conflicts people run into and how they may contribute to the end of a marriage.

A difference in values

For one thing, some people value spending money, having experiences and buying new products. Other people value saving money and having financial stability. Both of these outlooks have their own merits and faults, but problems come when one person is a spender and the other is a saver.

Significant financial stress

Financial stress happens when a couple simply doesn’t have enough money to make ends meet. This is one of the reasons that young marriages are more likely to end in divorce. Things can be especially problematic if one person is unemployed. Job loss has been seen to cause an increase in divorce odds.

Financial infidelity

In some cases, one person simply doesn’t tell their spouse about all of their financial activities. They may hide money or spend money in a way the other person doesn’t approve of. They may have secret funds or hidden investments. They could simply try to keep their assets and earnings from their spouse. If all of this activity comes to light, it can lead to divorce.

Splitting up and dividing assets

If you and your spouse do end up getting divorced, whether it’s for financial reasons or not, just be sure you understand all of your legal options. You’ll need to divide assets, among much else, and you must know what steps to take.