Six financial reasons why people get divorced

Some people say money makes the world go around, but it does more than that. It drives people through their careers and relationships. And apparently, it also tears some marriages apart, according to Business Insider.

Most common money-related reasons for separation

Often, finances cause significant marital strife, but what specific reasons cause couples to finalize their divorce? Some of the most common issues include:

  1. Opposite perspectives on money – most married couples are aware of their significant other’s spending habits. However, they may not agree on what practices are good or bad. Most spouses with opposing views on money will engage in more fights surrounding finances.
  2. Inability to compromise on spending – along with spending habits, some spouses will have difficulty finding a balanced approach to spending their money. If a couple cannot compromise on a daily budget, they may resort to divorce instead.
  3. Challenges with combining accounts – after marriage, most couples will combine their assets, including their money. But there’s a possibility for fights if one spouse tends to spend more from the shared account, especially if one person makes significantly more than the other.
  4. Unexpected major expenses – medical bills, travel expenses or home repairs may be large, unexpected costs for most spouses. It adds additional stress if both spouses do not agree to the extra cost.
  5. Impulse purchasing – if one partner has significant issues with impulse purchasing, it leads to problems within their relationship. For example, if the partner stats making significant purchases without consulting their spouse.
  6. Overspending on the shared budget – like impulse purchases, couples who consistently overspend on their budget creates additional stress on themselves and their relationship. They will likely put themselves into debt and in an unhappy marriage.

There are ways to prevent financial burdens from impacting your marriage. For example, investing in a financial advisor or pre-planning your accounts before the wedding helps alleviate any issues in your future. It depends on what you and your partner are willing to do to help your relationship.

However, there are circumstances where marriage is not meant to last. Don’t be afraid to take a step back and do what’s best for you and your financial future.

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