All manner of money issues can lead to divorce, and it’s often cited as one of the most common reasons for a marital split. Couples that may otherwise feel like the relationship works can see everything fall apart when they run into money trouble.
But it’s not just the stress of not having enough money or the allure of a more affluent lifestyle that will end a marriage. Two of the biggest problems couples face are:
- High debt. Debt is incredibly stressful, especially when it feels like it is getting out of control and impacting other areas of life. A couple may be facing foreclosure, for instance, or collection agencies may be calling every day. Debt is also an issue when it is more tied to one person than the other. For example, if one person has a gambling addiction that creates the debt and uses up the little money the couple has, the other person may choose to leave, know that’s simply not a way they have to live.
- Lack of communication. Couples need to be on the same page with money. Communication issues can cause all manner of problems in a marriage, and money is just one example. If one person spends family money without telling the other, for instance, it could cause disagreements and an eventual divorce. If the two people have different financial goals and they never talk about it, they may wind up ending the marriage.
Money is an important part of the modern marital experience, and you need to know the risks that this creates. If you do get divorced, make sure you also know what legal rights you have.