Family Law Blog

Divorces caused by financial complications

Money and how it is used and saved is one of the biggest topics of conversation and argument in any marriage. There is no easy solution to solving financial differences. It can take time before couples find a solution or compromise when discussing finances.

There are some financial complications that can severely impact a marriage. Savings and investment differences may not immediately appear to affect a marriage. Yet, they can eventually lead to divorce as a result of resentment, distrust, or frustration. Here are a few common causes:

Disagreement about investment of savings

When couples share savings, both partners may not be of the same opinion about how the savings will be used. Some people save money for “rainy days,” such as to repair a roof or service a vehicle. Others may save money for larger goals, such as for a new home or vehicle. If couples are not on the same page about their savings, it could lead to difficulties.

Habitual unemployment

Many people are facing unemployment right now. If a spouse is unemployed and is either unwilling to find work or can not keep a job, it can severely affect a family. The other spouse may be responsible for financially carrying the family, which can overburden and frustrate that spouse.

Debts and spending addiction

Addiction is a severe issue that can harm relationships. A shopping addiction can not only cause a spouse to spend funds allotted for bills and savings, but it could also lead to a large amount of debt. A spending addiction and high debt can fracture a marriage.

How can you protect your interests?

Legal guidance can provide strategies to help people protect their finances in a divorce.