Experiencing money problems within a marriage can be the source of frequent and heated arguments. Many separated couples who experienced prolonged financial stress cite this issue as the root cause of divorce. This is true at any income level because disagreements over money often stem not from how much money a couple has but rather how the individuals choose to manage it. Marriage money problems can be caused by many factors.
Sometimes one person is focused on paying bills and saving for the future while the other is busy spending every dime as soon as it hits the joint account. In other cases, a spouse may keep tight control over the shared finances or even hide money from their partner. The common theme among these and other examples of marriage money problems is that one of the spouses exhibits behavior that leaves the other feeling out of control.
The Biggest Mistake
Not talking about money and each partner’s philosophy on how to spend or save it before committing to marriage can result in a lot of misunderstandings between spouses. It’s important for couples to communicate transparently about financial issues and to regularly check-in with one another on the issues of budgeting and financial planning to make sure they’re on the same page.
Resentment over money can build up and put tremendous stress on the marriage, and the same control issues that cause money problems during a marriage can become even more exaggerated during a divorce. Despite the fact that both parties are required to file a full and accurate Financial Disclosure Form, it’s not terribly uncommon for people to leave out or under-report their current financial position.
Because this information is used to arrive at a fair division of assets and debt, it’s advisable to retain the services of an attorney before agreeing to a settlement. A divorce attorney can ensure that the opposing party hands over a truthful and thorough accounting of all marital assets. And if the opposing party fails to do so in a timely manner, they can request that a judge compel compliance.
Taking the Next Step
The existence of serious or constant money problems in a marriage puts a heavy strain on the relationship, which is why it’s one of the most common causes of divorce. Should you find yourself in this situation and if you suspect your spouse is not being truthful about the finances, retain the services of a divorce attorney and communicate your concerns. Buncher Family Law, resolute divorce attorneys in Irvine, CA, is a great next step.