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How can money differences lead to divorce?

On Behalf of | Sep 14, 2023 | Divorce |

When couples get divorced, they often refer to money as the reason for the split. Maybe they disagreed about major purchases and couldn’t get over it. Maybe one person committed financial infidelity. Perhaps they ran into struggles with money when one person lost their job. These issues can come about in many different ways.

But one thing to keep in mind is that the views that two people have about money, even before marriage, could lead to a divorce. These perspectives may not be compatible and can lead to unnecessary stress.

The debate between spending and saving

Most couples try to find a balance between saving money and spending it. But that doesn’t necessarily mean that they agree on what their goals should be.

One person may enjoy spending their money, purchasing the newest gadgets, having fun experiences and traveling the world. If the other person tries to stop them from doing that, they feel like it is inhibiting their life.

But that other person may simply value saving money, putting it aside for retirement and creating financial stability. It is the spending itself that stresses them out because they want to plan for the future.

Both people can be right. It’s not as if saving is wrong or spending is wrong. But when two people view money so differently, that can lead to a lot of stress in their relationship and may cause them to get divorced.

Dividing assets

When a couple does decide to split up, financial assets need to be divided. This becomes a major part of the divorce process, and those involved need to know exactly what legal options they have.