Money issues and arguments are a leading cause of divorce. Despite changes in the economy, financial issues that cause marital problems persist. It’s not a surprise that money-related topics, which impact nearly every decision throughout the day, could lead to problems.
Marital Money Issues
- Adhering to traditional roles – Many couples continue to grapple with role stereotypes. A man who believes he is the provider for his family can suffer depression if he loses his job. A woman making more money may resent an unfair balance if she’s also responsible for grocery shopping, laundry, housework, and cooking. These money issues often begin with little comments that escalate into arguments. Over the years, they may increase until a relationship is beyond repair.
- Change in income – Rather than jumping into “damage control” mode, many couples assume an income loss is only temporary. Whether it’s due to illness or downsizing, “temporary” money issues can quickly escalate. Before you know it, divorce seems the only solution to the problem.
- Children – The unexpected costs of having a child can push a couple beyond repair if they’re already on shaky financial ground. Children need more than love and care. On average, it costs about $250,000 to raise a child before college.
- Conflicting money values – Spenders and savers have different monetary “personalities.” It’s a good idea to discover each other’s money values before marriage. Learning to communicate about spending and saving will save you headaches down the road. Spenders and savers have some differences that could complement each other if they learn how to work together.
- Alimony, child support, extended family – It can be defeating to send alimony payments to your partner’s ex, while you’re struggling to pay the bills. Even the regularly-occurring child support payments can seem like too much. While family is important, a financially irresponsible brother-in-law who consistently needs monetary bail-outs gets old fast.
- Ineffective money management – When one partner controls bill-paying and debt management and the other has no information about household finances, it’s a formula for failure. This can lead to secrets and surprises, which are never good for a relationship. Couples should regularly review the family’s debt and assets before money issues demand attention.
When Money Issues Become Paramount
From the moment you wake up and into the tossing-and-turning night, money issues seem to control your life. Your sleep is affected. You’re distracted at work and short with the kids. Are money issues ruining your marriage?
Addressing money issues can be a part of the Arizona collaborative divorce process. A family-oriented collaborative divorce can help you avoid a lengthy, adversarial experience. During a collaborative divorce, a neutral financial professional can help both spouses discover and achieve financial priorities. Your improved communication skills can make interacting after the marriage more productive as well.
Customize Collaborative Divorce to Work for You
Collaborative divorce professionals can help find solutions that will work for your changing family. If money issues are leading you to consider divorce, the neutral financial professionals at Best Legal Choices can offer suggestions. Money issues may never disappear, but they can be managed. Contact the professionals at Best Legal Choices to learn more.