Money and its role in divorce

Money and its role in divorce

Money is said to be the cause of most fights between married couples. Spouses do not always have the same ideas when it comes to spending and saving, which can add a lot of stress on daily life. There are many couples in Michigan who have filed for divorce, or will end up doing so, due to their inability to agree on money issues. Here are some of the top reasons couples end up fighting about finances.

Number one: Varying financial priorities. When married, it is necessary to get on the same page about a lot of things, including money. Having a shared goal brings a couple together. For example, if the goal is to save up a significant downpayment for a home, each spouse has to stick to a budget to make it work. If one spouse is continually going over budget, it can make the other feel he or she is the only one who cares about reaching the goal.

Number two: Financial infidelity. A lack of honesty can harm any relationship. When one spouse holds a secret bank account, hides purchases or tries to hide debt — among other things — and the other finds out about it, because that’s what usually happens, it can be difficult for the offended party to trust his or her partner again.

Number three: Loss of ability to control finances. In some marriages, spouses are both equally involved in financial planning, earning and making budgeting decisions. Then there are others whose spouse leaves them out of the money matters. Losing the ability to control one’s finances or have a say in what happens with shared money can be challenging to take.

No one wants to stay in a marriage with someone who is unwilling to work on shared goals or who is not trustworthy. Some couples can bounce back when money or other troubles arise, but it takes a lot of work. For Michigan residents who feel that their marriages are beyond repair, a divorce law attorney can help them get through the dissolution process as quickly as possible while still achieving balanced divorce terms.

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